Paramount Global for sale latest - Variety: CBS News Plans Third Hour of ‘CBS Mornings’ for Streaming, Stations

Story from Variety:

“CBS Mornings” may soon have more time in the sun.

Executives at CBS’ news-and-stations unit are developing plans for a third hour of the A.M. news show, according to a memo issued to staffers Friday by Shawna Thomas, the executive producer of the weekday morning program, which is co-anchored by Gayle King, Tony Dokoupil and Nate Burleson. “A few of our colleagues and I have been working on developing a third hour of CBS Mornings that we think will hit the airwaves at the end of September,” Thomas said. “It is being developed for a few of our owned stations and will simulcast on CBS News 24/7.”

The third hour, she added, “won’t look or feel exactly like the first two hours. Yes, the talent will be a little different and the name will be a little different, but it will still be the smart and engaging content everyone expects from the CBS Mornings family.” Tony Dokoupil and Adriana Diaz are believed to be in line to host the new edition of the show, according to a person familiar with the matter. CBS News declined to comment on the potential talent line-up for the new concept.

Lunch of a third hour could prove ambitious. After all, many CBS stations and affiliates already take a syndicated half-hour talk show hosted by Drew Barrymore following the end of “CBS Mornings.” Yet both NBC and ABC have extended their flagship morning programs, “Today” and “Good Morning America.” NBC offers hours of “Today” that are much lighter in tone from the show’s flagship 7 a.m. to 9 a.m. show. ABC runs a third hour of “GMA” in the early afternoon.

CBS has long been mired in third place among morning-news broadcasters. Even so, the show has enjoyed some tailwinds in recent months, notching gains among viewers between the ages of 25 and 54 — the demographic most coveted by advertisers in news programming. Meanwhile, “Good Morning America” has seen its standing in that category — typically dominated by NBC’s “Today” — erode in the recent past.

There are good reasons for CBS to expand morning-news hours. The “CBS Mornings” concept is one that many advertisers recognize and the news hours are likely cheaper to produce than a talk show, game show, or soap opera. NBC has found traction by broadcasting some hours of its NBC News Now live-streaming service in afternoons for stations that wish to take them in programs packaged as “NBC News Daily.”

Launch of the new hour is the latest shake-up at the Paramount Global news division since executive Wendy McMahon took sole oversight of the business in August of 2023. McMahon also runs CBS’ local stations and syndication businesses. In recent weeks, CBS News has announced plans to overhaul “CBS Evening News” with a format that relies on a team, rather than a sole anchor.

The moves come as the news unit’s corporate parent has come under tremendous financial pressure. Paramount last week wrote down nearly $6 billion of the value of its cable networks and unveiled plans to cut 15% of its employee base and cut $500 million in costs. Paramount has a deal to be acquired by Skydance Media, but remains in the midst of a transition period during which its controlling shareholder, National Amusements, can entertain rival bids.