Gayle King has inked a deal to renew her contract as the star anchor of “CBS Mornings’ — ending months of speculation as the network undergoes a headline-grabbing revamp under editor in chief Bari Weiss.
As previously reported by The Post, King’s current contract is up at the end of May and is worth between $13 million and $15 million. The terms of her deal could not immediately be learned, but King typically signs one-year deals.
According to one source, chatter was circulating on Wednesday that King took a steep pay cut — as much as 50% — to remain at the network.
CBS News did not return requests for comment.
Weiss said in a townhall meeting in January that CBS News president Tom Cibrowski, a former ABC News exec who played a major role in making “GMA” a top morning show, was working on the revamping the show.
At some point, that included refreshing the talent—King and potentially her co-host Nate Burleson—according to a source with direct knowledge.
Cibrowski said in a statement Wednesday that King and Burleson will continue as co-anchors of “CBS Mornings,” calling the duo “fantastic partners.”
“We are excited to continue to evolve ‘CBS Mornings’ and can’t wait for what’s to come,” he added.
King’s decision to stay at CBS News, which is expected to get hit by layoffs in the coming weeks. lends stability to the network after longtime “60 Minutes” correspondent Anderson Cooper recently said he would be leaving the marquee show.
Sources mused that Weiss and Cibrowski were rattled by Cooper’s decision to leave the network, which increased the focus on retaining stars.
“There was no plan B that was feasible,” a CBS insider told The Post when asked why top brass appears to have doubled-down on the co-hosts.
“This was a game of chicken and Gayle won,” the insider said, adding that the journalist will “keep doing the show as long as they pay her.”
King’s high salary had been a point of contention as her show’s ratings have slipped below 1.8 million in recent weeks, trailing behind NBC’s “Today” and ABC’s “Good Morning America,” which average around 3.2 million and 3.1 million, respectively.
“The perception of losing Anderson Cooper and then losing Gayle King would have been decimating,” a media source told The Post.
“Rumors of my demise were inaccurate and greatly exaggerated,” King said in a statement Wednesday. “CBS News is my longtime home, and I am committed to our mission. I’m excited about continuing at ‘CBS Mornings.’ As always, I’m open to new adventures here and ready to go. It took a minute, but we got there. And now that we are here, I am all in.”
King’s last-place morning show is expected to get an overhaul since her co-host Tony Dokoupil was elevated to anchor of the network’s “Evening News” program in January.
Weiss has been working on plans to overhaul the network since she joined in October.
“There is only one Gayle King,” said Weiss. “We’re so proud that she’ll continue to call CBS home. We’re thrilled to have her on in the morning — and equally excited to work with her on new, enterprising projects that bring her talents to new audiences.”
The move comes as CBS parent Paramount Skydance recently inked a $110 billion deal to acquire CNN parent Warner Bros. Discovery.
Budgetary and contract constraints have made it increasingly difficult for CBS News to attract top talent. For instance, Weiss had reportedly circled Fox News anchor Brett Baier to host “Evening News” but it was revealed that he was under contract until 2028, putting a pin on her overtures to join the embattled network.
The insider admitted to having no knowledge of the terms of King’s new contract.
