The new executive producer of 60 Minutes, Nick Bilton, is reportedly set to earn an annual salary of $2.5 million, according to sources familiar with CBS News' business operations. The details were provided to The Daily Beast on Tuesday by two insiders.
While substantial, the sum is still less than what some of the program's highest-paid correspondents earn, the sources noted. However, Bilton, aged 49, comes with no prior broadcast experience, which has raised eyebrows within the industry.
Bilton was handpicked for the role by CBS News Editor-in-Chief Bari Weiss, who also lacks television experience. Weiss, 42, defended her choice in an interview with The New York Times on Thursday, praising Bilton's forward-thinking approach. 'He has been the one to see the tsunami before the wave hits the rest of us,' she stated.
Bilton himself emphasized the need for external perspectives, telling the publication, 'When you take an insider and you put them inside a company, nothing changes. There are all these approaches and ideas that we can do that I couldn't be more excited to jump into. And I think you need that outside vision to be able to do that.'
Internal Reactions and Staff Changes
Bilton's appointment was met with open hostility from veteran correspondent Scott Pelley during an all-hands meeting on Monday. During the gathering, Bilton remarked, 'Broadcast is an ice cube that is melting, OK?' He also assured staff that Weiss 'loves 60 Minutes', despite a series of firings that occurred on Thursday.
The dismissals included correspondents Sharyn Alfonsi and Cecilia Vega, as well as top producers Tanya Simon and Draggan Mihailovich. Following these exits, the remaining correspondents are Lesley Stahl, Bill Whitaker, Jon Wertheim, and Scott Pelley. Anderson Cooper had already decided not to renew his contract last month after two decades with the program.
Salary Comparisons and Production Costs
Sources told The Daily Beast that correspondents on 60 Minutes can earn up to $5 million per year. Senior producers earn between $200,000 and $300,000 annually, while associate producers make up to $150,000. Each story produced costs approximately $75,000, covering expenses such as production and travel.
The Daily Mail has approached CBS News for comment. Before his appointment, Bilton authored two New York Times bestselling books and worked as a correspondent for the Times and Vanity Fair.
