In the wake of a significant ratings slump following the recent election, MSNBC is reportedly in talks with its prime-time anchors, Joy Reid and Stephanie Ruhle, to accept reduced salaries to remain in their current positions. This news comes on the heels of star anchor Rachel Maddow agreeing to a $5 million cut from her previously reported $30 million annual earnings.
According to insights from The Ankler, the negotiations with Reid and Ruhle were expected, especially after Comcast, the parent company of MSNBC, announced plans to spin off MSNBC along with other NBCUniversal properties into a new standalone entity. This strategic move has raised questions about the future direction and financial stability of the network.
The urgency for these salary negotiations has been underscored by drastic declines in viewership. Nielsen ratings, as cited by The Wrap, indicate that MSNBC’s prime-time audience has decreased by a staggering 55% between November 4 and December 15, 2024. This drop is somewhat mirrored by CNN, which saw a 46.7% decline over the same period, highlighting a broader challenge for cable news networks post-election.
Joy Reid, host of “The ReidOut,” and Stephanie Ruhle, who anchors “The 11th Hour,” have both seen their viewership numbers fall in line with the network’s overall downturn. Despite their salaries being significantly less than Maddow’s, the pressure to adjust compensation reflects the network’s need to adapt to its current market position.
Additionally, Jonathan Lemire, recently promoted to co-host on “Morning Joe,” has also been offered a new contract with a reduced salary, as per The Ankler’s reports, indicating a broader cost-cutting measure across the network’s on-air talent.
An MSNBC spokesperson, when approached for comments on these negotiations, stated that the network does not publicly discuss personnel matters or contract negotiations, leaving much speculation about how these changes might reshape the network’s lineup and content strategy moving forward.
This development marks a critical juncture for MSNBC as it grapples with not only maintaining its roster of prominent anchors but also rethinking its approach to attract viewers in an increasingly fragmented media landscape.