New York Magazine reports that CBS News and CNN are deep into talks that would see a merger of resources between the news divisions. This isn’t the first time we’ve heard rumors to this effect. But New York says the talks have been going on for a couple of months now:
This time around, television executives speculate that the economics make too much sense. CBS News has previously expressed interest in recruiting CNN star Anderson Cooper, who already appears as a contributor to 60 Minutes. And next May, Katie Couric’s reported $15 million annual contract with CBS is up for renewal. A combined CBS-CNN might offer more possibilities to negotiate Couric’s new deal while giving her additional opportunities to showcase her interviews.
When you read “the talks revolve around how the two news divisions can combine operations in a bid to cut costs…” you can only assume that means one thing: layoffs.