Rachel Maddow Has to Take a $5 Million Paycut at MSNBC — All Thanks to Donald Trump
Inside Rachel Maddow’s $25M Gamble
Rachel Maddow, one of MSNBC’s most prominent anchors, finds herself at the center of a media storm involving reduced salaries, rating slumps, and critiques from a former mentor. As MSNBC grapples with prominent changes, danger looms on the future of employees. Her reduced role—from hosting five nights a week to a single show on Mondays—poses questions about whether the network can sustain its audience with its in-house restructuring.
Ratings Fall
Maddow recently renegotiated her contract with MSNBC, agreeing to a $25 million annual salary for the next five years— a $5 million reduction from her previous deal. The decision comes as MSNBC experiences a steep 40% decline in viewership compared to last year. Ratings took an even sharper dip— down 54%— in the aftermath of the 2024 U.S. presidential election as Donald Trump defeated Kamala Harris.
The Emergence of SpinCo & Separation from NBC News
The pay cut aligns with MSNBC’s broader financial challenges as its parent company, Comcast, prepares to spin off the network into a new entity, SpinCo, by 2025. Comcast’s decision to spin off NBCUniversal’s cable networks, including MSNBC, CNBC, USA Network, and Oxygen, into SpinCo marks a prominent shift. This restructuring will separate MSNBC from NBC News, potentially leading to a change in branding, location, and operations.
Competition with Fox News
MSNBC’s rating woes are amplified by the dominance of Fox News which commands a staggering 62% share of cable news viewers, averaging nearly 2 million daily viewers, with 3.2 million tuning in during primetime. In comparison, MSNBC and CNN combined failed to match up to these numbers. Shows like The ReidOut and Morning Joe have hit record-low viewership, exacerbating MSNBC’s struggles, as per reports.
Keith Olbermann’s Criticism
Amid the negotiations, Maddow’s former mentor, Keith Olbermann, has been vocal in his criticism. Olbermann, who played a prominent role in launching Maddow’s television career, blamed her for abandoning her principles for financial gain. He remarked, “For [Maddow] to have any credibility going forward, she has to risk $1 for once in her life and publicly demand this. She just re-signed for $25 million. If you think she’d do anything for principle, I’ll light a candle for you.”
NBC Chair Admits Future is Bleak
The creation of SpinCo has left many MSNBC staffers in limbo. NBCUniversal Chair Mark Lazarus admitted to employees, including Maddow, that the details of the transition remain unclear. Executives hope the restructuring will make the network more profitable in a landscape prominently dominated by streaming platforms, However, uncertainty looms large among staff, who fear layoffs and a vague future relationship with NBC News.
What Future Holds for MSNBC Post-Trump Victory
Internally MSNBC faces criticism for liberal views. One on-air commentator admitted, “It turned into one giant circle j–k and echo chamber. If MSNBC wants to be of service to its viewers, they can’t keep them in fantasy land.” They believe this left viewers unprepared for political realities such as Trump’s election victory. The network is debating whether to reintroduce conservative voices or recalibrate its approach entirely.
Executives Gush Over Maddow’s Reach
Despite these setbacks, Maddow remains a vital asset to the network. Described by executives as 'ratings Viagra,' her ability to draw viewers is considered unparalleled. An executive remarked, “This is a difficult time and they needed to keep her. No one else can do what she does. You can’t build a brand like it overnight,” as reported by the New York Post.
