The newswoman and ABC Domestic Television have pulled the plug on her daily talk show, “Katie,” which will not return for a third season next year.
“While production will continue on ‘Katie’ through June 2014, we’ve mutually agreed that there will not be a third season of the show,” reps for Couric and the show’s distributor ABC Domestic Television said in a joint statement. “We’re very proud of everyone’s contributions to making Katie the #1 new syndicated talk show of 2012-2013, and we look forward to the rest of the season.”
Show insiders told The NY Daily News that the problem with the show was not its ratings, but more the economics of the deals that got “Katie” on the air in the first place: “According to reports, “Katie” cost an eye-popping $50 million to produce when it launched in 2012, and while the budget fell to $35 million for season two, it still costs more to make than an average $20 million talk show. In fact, Couric was paid $20 million herself as part of the show’s current two-year deal.”
Couric is now expected to draw an annual salary of as much as $6 million a year in her new role as “Global Anchor” for Yahoo, a source close to the deal told the Daily News.