NEW: Joy Reid Forced To Take Pay Cut To Keep Her Job

Amid a tightening landscape for cable news, MSNBC host Joy Reid is expected to take a pay cut to remain at the network, according to reports. The decision comes as the network grapples with declining ratings and broader economic pressures affecting much of the media industry.

Reid, a prominent progressive voice and host of “The ReidOut,” reportedly earns around $3 million annually. Sources close to the situation suggest her contract renewal is contingent on a salary reduction. She joins a growing list of MSNBC anchors feeling the squeeze, including 11th Hour host Stephanie Ruhle, who is also expected to see her compensation cut, according to The Ankler. However, the financial belt-tightening extends beyond MSNBC. Newsroom staff at rival networks like CNN, ABC, CBS, and NBC are bracing for additional layoffs as executives forecast further industry headwinds in the new year. Such moves come despite the networks’ reliance on high-profile talent to drive viewership.

Once buoyed by wall-to-wall political coverage during the Trump administration and the 2020 election, MSNBC, along with the other legacy networks mentioned, has struggled to maintain its audience amid a fragmented media landscape. On cable, ratings are plummeting across the board, with the exception of Fox News. Conversations with 20 network journalists and executives reveal a pervasive sense of exhaustion and a longing for 2024 to end, tempered by anxiety about the future.

“It’s pretty bleak,” said one seasoned cable network producer to The Ankler. “It’s past the point of hard alcohol.”

LOS ANGELES, CA. January 26, 2023: Joy-Ann Reid at the premiere for “The 1619 Project” at the Academy Museum of Motion Pictures.
Picture: Paul Smith-Featureflash

The cuts have not spared even MSNBC’s flagship stars. Rachel Maddow, widely regarded as the network’s biggest draw, reportedly accepted a $5 million pay cut to retain her reduced but influential presence on air.

Following the recent presidential election, MSNBC has experienced a significant drop in ratings. The network’s primetime viewership declined by over 60%, with “The ReidOut” losing approximately 47% of its total audience, averaging 759,000 viewers, down from 1.4 million before the election, according to Fox News. MSNBC’s primetime lineup has seen a significant decline, losing 53% of its total viewers and averaging 621,000. Even more striking is the loss of 61% of viewers in the key demographic, with the network now averaging just 57,000.

Reid has also faced backlash for recent on-air comments. She referred to Florida as an “extremist right-wing fascist” state following the failure of Amendment 4, which sought to enshrine abortion rights in the state constitution. The remarks sparked outrage on social media, with some viewers calling for her removal.

In addition to current challenges, Reid has a history of controversies. In 2018, past blog posts containing homophobic content resurfaced, leading to public criticism. Reid initially claimed her blog was hacked but later apologized, stating that the posts were “insensitive, tone-deaf and dumb.”

Pay cuts, coupled with anticipated staff reductions across the industry, underscore a sobering trend for cable news giants. While MSNBC remains a player among left-leaning audiences, the network—like its competitors—is not immune to the economic pressures reshaping media.

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