CNN’s new top-ranking executive, Mark Thompson, plans to cut anchor salaries, which currently exceed $50 million, as part of a strategy to transform the network into a U.S. version of the British Broadcasting Corporation (BBC).
Thompson, former head of the BBC and The New York Times, is reportedly planning a “revolution” at CNN, with no talent spared, including high earners such as prime-time anchor Anderson Cooper, who earns an estimated $20 million a year, and Wolf Blitzer, who receives about $15 million annually. Other co-anchors, including John Berman, Kate Bolduan, and Sara Sidner, earn between $1 million to $2 million per annum.
Thompson also plans to trim production costs “that now look difficult to support,” according to a staff memo. Media experts and former staffers suggest these cuts will impact salaries. However, the contracts of stars like Cooper and Jake Tapper won’t expire until after the presidential election.
Thompson’s actions come amidst low ratings and increasing competition from rivals Fox and MSNBC. He announced the removal of hosts Poppy Harlow and Phil Mattingly from their show, “This Morning,” and a reshuffling of “CNN News Central.” The network will cease production of morning programming from New York and move production to Atlanta. CNN’s parent company, Warner Bros. Discovery, has been urged to sell the network while it maintains significant TV distribution.
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