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Peter Jennings Re-upping with ABC?
That's according to the Drudge Report, which claimed Sunday that the ABC World News Tonight anchor is close to signing a deal with the Alphabet network that will reportedly retain his services but won't give him a raise.
Instead, the cyber-gossip site reported that the 64-year-old Jennings will likely keep his current salary estimated at $10 million to $12 million a year, despite rumors circulating last spring suggesting that the newsman and other staffers might have to take a pay cut thanks to the current economic downturn and a decline in network advertising revenue.
"It looks like a pay freeze, but not a dramatic reduction in compensation," an insider privy to negotiations told the Drudge Report. "With more time off."
ABC and Jennings historically have been tight-lipped about contract negotiations.
But a spokesman told the Associated Press over the weekend that ABC looked forward to renewing its relationship with Jennings, who has anchored ABC's evening news broadcasts since the early 1980s.
"ABC executives have repeatedly said they have every hope and expectation that Peter will remain the anchor for many years to come," said ABC News spokesman Jeffrey Schneider on Sunday.
Word first leaked last April that ABC was looking to slash Jennings' salary when parent company, Disney, failed in its embarrassing bid to lure CBS Late Show host David Letterman over to the cash-strapped network.
But according to the New York Times, it's doubtful ABC execs would be willing to risk losing Jennings, given World News Tonight's current ratings.
Jennings' broadcast, which averages 9.1 million viewers, is on the verge of overtaking top-rated NBC's Nightly News hosted by Tom Brokaw, which averages 9.2 million viewers, to reclaim its title as the most popular evening news program.
And considering Brokaw recently announced his impending retirement in 2004 (to be succeeded by 43-year-old CNBC anchor and heir apparent Brian Williams), it's likely Jennings' World News Tonight will vault to number one.
Insiders also told the Drudge Report the two sides are "in the home stretch" as far as negotiations and an announcement is "imminent."
Jennings declined to comment on any deal Monday when he and ABC News President David Westin scheduled a meeting with print reporters to talk about the six-part prime-time series the stone-faced journalist is hosting next month, called In Search of America, based on a book which he coauthored.
That show, which examines America today versus ideals for the country originally laid out by the founding fathers, is set to air over five nights starting September 3.
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