Katie Couric Turns Down Larry King Job on CNN

[Brian Damage]

Katie Couric has told CNN that she's not interested in taking over Larry King's spot on the cable-news network, and instead is negotiating with CBS to remain after her $15 million-a-year contract ends next year, the New York Post reports.

Couric wasn't interested in joining another network as a white knight, as she did when she joined CBS in 2006 with high expectations that her anchor role would boost the network's ratings, which didn't materialize, the story says. With her negotiations at CBS, she may remain as the evening news anchor, albeit with a smaller salary.

The talks include creating a production company for her, which would allow her to make up the difference in pay while also creating specials and even syndicated daytime shows, the story says. The discussions are touching on an agreement between CBS and CNN to share some news costs and resources, it adds. Also included in the talks is the possibility of Couric stepping down, although given that CBS doesn't have a successor, it's unlikely that will happen, the story says.

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