NEW YORK CITY, NEW YORK: MSNBC anchor Rachel Maddow has reportedly agreed to a $5 million reduction in her salary as the network's ratings decline following the 2024 election victory of Donald Trump.
Comcast, the parent company of NBC, made the announcement while revealing the detailed plans to separate MSNBC and CNBC from NBC News as part of its strategy to establish a new spin-off entity that will include various other Comcast-owned cable networks.
Rachel Maddow takes $5M pay cut after MSNBC ratings decline
Rachel Maddow, 51, currently earns a salary of $30 million per year at the network. However, following renegotiations, her new contract stipulates a salary of $25 million per year for the coming five years, The Ankler reported.
"This is a difficult time, and they needed to keep her," an executive told the media outlet. "No one else can do what she does. You can't build a brand like it overnight," they added.
Maddow, who became part of MSNBC in 2008, is the network's most prominent news anchor and spearheaded its election night coverage.
Under the terms of her new contract, Maddow will remain the anchor of her Monday night show while also producing podcasts and documentaries. MSNBC has not yet responded to a request for comment.
Executives at MSNBC have observed a significant decline in the network's ratings following Trump's victory in the presidential election on November 5.
An insider at MSNBC revealed that executives have found it challenging to accept Vice President Kamala Harris' defeat, characterizing the network as a "safe space for liberal TV audience."
"We were so Harris propaganda that when she lost, viewers were shocked," an on-air pundit told The Ankler. "It turned into one giant circle jerk and echo chamber. If MSNBC wants to be of service to its viewers, they can't keep them in fantasy land."
Internet claims Rachel Maddow is still being 'overpaid'
After the news about Rachel Maddow's pay cut circulated on social media, many critics of the news anchor brutally slammed her and claimed that she is still being "overpaid" by the network.
One person wrote on X, "Still overpaid! Imagine being paid that much money to bulls**t America on a daily basis!"
Still overpaid! Imagine being paid that much money to bullshit America on a daily basis!
— James (@Dean_James_1) November 21, 2024
Another said, "She’s still waaayy overpaid and overrated."
She’s still waaayy overpaid and overrated
— Downtown Fairy (@Downtownfairy) November 21, 2024
One commentator remarked, "She still makes 25 million too much. She's a hack Journalist, not an athlete, how the heck do they justify paying this kind of money?"
She still makes 25 million too much.
— Proud Deplorable (@pchunter69) November 21, 2024
She's a hack Journalist, not an athlete, how the heck do they justify paying this kind of money?
"Hard to believe that clown was getting paid that much to be a professional liar," another critic wrote.
Hard to believe that clown was getting paid that much to be a professional liar
— MAGA PAPA 🇺🇸 (@Sp0reWarden) November 21, 2024
One individual noted, "He should have been reduced to a $30k/yr salary to understand how some people struggle to live."
He should have been reduced to a $30k/yr salary to understand how some people struggle to live.
— Ella Vation (@skillet76568197) November 22, 2024
Another chimed in, "She still males like a gazillion dollars for minimal work."
She still males like a gazillion dollars for minimal work
— 𝕁𝔼𝔽𝔽𝔼ℝ𝕊𝕆ℕ’𝕊 𝕍𝕀𝕆𝕃𝕀ℕ (@Rust_And_Decay) November 21, 2024