CNN and CBS, not immune to the painful economics of the industry, are looking to cut costs in its news-gathering. According to New York Magazine, the two networks are in “advanced negotiations” to sign a partnership which will allow them to combine news operations.
It’s not the first time talk has surfaced of CNN combining news operations with another network. An attempt to partner with ABC failed several years ago. ABC just went through a brutal cost-reduction, which included 400 layoffs from its news division. CNN and CBS have been in on-and-off talks throughout the years, but never reached any agreement, mainly over talent and how to share the resources. But given the state of the industry, they just might reach a common ground.
CNN’s Anderson Cooper already contributes for CBS’s 60 Minutes. There’s talk Katie Couric could be a likely replacement for Larry King.