CBS 'Ready to Replace' Gayle King and Her $15million Contract with Norah O'Donnell... as Former Evening News Anchor 'Desperate' to Save Her Floundering Career

CBS may already have Gayle King's replacement in mind, as the network's new leaders appear set to let her, and her high-priced contract, hit the road.

And they could be welcoming back a familiar face to take over CBS Mornings.

King's salary currently tops out at a whopping $15million a year. But new network owner David Ellison and CBS News editor-in-chief Bari Weiss are looking to trim the fat at the struggling channel, and King, 70, could soon lose her throne.

According to journalist Oliver Darcy's Status newsletter, Weiss has already met with former CBS Evening News host Norah O’Donnell, who is reportedly desperate to revive her career.

"O'Donnell could return to CBS Mornings," Darcy confided, "particularly as Gayle King's massive paycheck may become difficult to justify in the Ellison era, which is expected to include significant belt tightening."

Ellison's Paramount Skydance acquired CBS earlier this summer for reportedly $150million. After spending so much money, the new executives are reportedly preparing for wide layoffs.

King has also reportedly soured her new bosses after her "woke" sensibilities drove viewers away.

"Letting Gayle turn the show into her personal therapy hour was a fatal mistake," said a TV news insider. "Gayle brought in her people, her politics, her preachy tone – and the audience disappeared!"

In July, her show saw a loss of between 20 and 30 percent of its audience in the advertiser-coveted 25- to 54-year-old demographic.

"They thought her star power would save them – instead, it torpedoed the ratings," the source claimed. "Now they're just trying to cut bait without setting the whole place on fire. She's being phased out and everyone knows it."

Meanwhile, O'Donnell is said to be plotting a major CBS comeback, months after ditching her position as the evening news anchor.

While O'Donnell was no longer behind the nightly desk, she remained at the network working as a senior correspondent contributing to programs like 60 Minutes.

But Hollywood insider Rob Shuter, who writes on Substack, previously revealed O'Donnell's transition earlier this year wasn't solely based on declining ratings – her alleged toxic attitude played a factor in the decision as well.

A veteran producer said: "She was cold, tough to work with, and burned too many bridges."

O'Donnell has reportedly tried to position herself as a "savior" the network desperately needs for the new Skydance team.

"She's been lobbying hard," a source claimed. "But they're looking forward, not backward. And definitely not at her."

As RadarOnline.com reported, CBS has been in a free fall as of late.

The network faced intense backlash after it made the controversial decision to axe beloved late-night host Stephen Colbert days after he criticized Paramount's $16million settlement with Donald Trump, which the host called a "big fat bribe."

The president has been a vocal critic of legacy networks and has specifically called out King and CBS for having "no talent."

He wrote in an unhinged post: "Gayle King's career is over. She should have stayed with her belief in TRUMP. She never had the courage to do so. No talent, no ratings, no strength!!!"

An insider warned the network needs to rethink its programming if it wants to win back viewers.

They explained: "The audience doesn’t want woke. It doesn’t like progressive and provocative bookings. The morning show audience wants optimism and cheer and joy, and what they were producing is at odds with audience expectations."