CBS Has ‘Been in Freefall for Years’: ‘Everybody Knows Their Jobs Are on the Line’

Struggling CBS News is about to get an extreme makeover from new owners after tumbling from the glory days of legendary newscasters like Edward R. Murrow and Walter Cronkite to an also-ran in the broadcast network ratings, industry sources predict. The failure of costly talent to attract eyeballs, poor reviews and the division’s constant position as the third horse in a three-horse race behind ABC and NBC news shows could lead to a bloodbath at the once vauntedTiffany network.

The FCC has been reviewing a request from Skydance Productions to purchase, “strengthen and revitalize” CBS — and our sources say that means sweeping changes in the news division. “The place has been in freefall for years, and if the sale goes through there’s no way the new owners will settle for status quo!” an insider exclusively tells In Touch.

The $28 billion deal to buy CBS’s parent company, Paramount, from the Redstone family is due to close in the spring, and sources say Skydance CEO David Ellison and his father — Oracle founder Larry Ellison — are set to “blow the place up.”

The news division has suffered multiple humiliations. Ratings plummeted after Jeff Glor was named anchor of CBS Evening News in 2017. He was replaced by equally unpopular Norah O’Donnell — at a whopping $8 million a year! O’Donnell was forced to take a more than $4 million cut in salary, but she’s still slated be dumped, spies dish.

Meanwhile, $11 million newscaster Gayle King’s CBS Mornings continues to badly trail rival breakfast shows Good Morning America and Today in the ratings. The show recently came under fire when cohost Tony Dokoupil was publicly “reprimanded” by woke execs for the way he questioned a pro-Palestinian author. The knee-jerk rebuke drew backlash from viewers and fellow on-air journalists.

Current network owner Shari Redstone tried to smooth things over by declaring, “I frankly think Tony did a great job with that interview. He showed that there was accountability, that there is a system of checks and balances, and frankly, I was very proud of the work that he did.”

The mixed messages were yet another embarrassing sign of discombobulation at the news division, industry insiders tattle. “Morale is at the bottom,” says the insider. “Everybody knows their jobs are on the line. If this purchase goes through — and there’s no reason it shouldn’t — there’s going to be a massive fire sale in the news division!”