Katie Couric Quietly Took $1 Million Pay Cut While At CBS To Save Jobs

Shes a cut above the rest.Katie Couric took a $1 million pay cut when she was an anchor at CBS Evening News to prevent significant layoffs, Page Six, The New York Posts gossip column, reported on Saturday.The journalists deed was revealed in Powerhouse: The Untold Story of Hollywoods Creative Artists Agency written by James Andrew Miller. The book mostly details the ascent of the Creative Artists Agency, but one classy tidbit stood out.Couric asked that there be no 'public or private acknowledgment' of the deed. Miller unveiled Courics benevolent gesture after learning about it from Alan Berger, a television agent at CAA.Couric joined CBS in 2006 and three years into working there, found out that the company was planning on letting go a significant number of employees. To spare both high and entry level employees from getting pink slips, she met with Sean McManus, CBS News president at the time, and devised an alternative plan.She offered to slash her salary by $1 million to keep those staff members on board.Couric, whos now a global news anchor at Yahoo,just asked that the money be allocated for the employees who wouldve otherwise been shown the door. She also requested that there be nopublic or private acknowledgment of the gesture.Courics five-year salary with CBS was worth a reported $15 million a year,according to Reuters.This was hardly Courics first foray into helping others.Couric, who lost her sister and husband, Jay Monahan, to cancer, is a major advocate.In 2001, she had a colonoscopy on air on the Today show to encourage others to get screened. Due to the segment, there was a 20 percent spike in colonoscopies in the 10 years that followed, according to Self.In 2008, she co-founded Stand Up To Cancer, a group that awards grants to support cancer research. It has raised more than$370 millionsince it launched. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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