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Australian television personalities face massive salary cuts as networks slash costs amid financial squeeze

BBG News

Several popular television figures in Australia are anticipating significant salary decreases, as the country’s largest broadcasting companies plan substantial budget cuts aimed at reining in escalating expenses.

Regardless of having limited screen time, various prominent celebrities are receiving six-figure paychecks – some even making more for each minute they’re on screen than what the typical Australian earns in a full month.

But all that is about to change.

Due to a significant decline in advertising income, broadcasters such as Channel Seven, Nine, Ten, and the ABC are now faced with the necessity of making substantial budget cuts. This situation has led to a significant reorganization within their national news departments and on-screen personnel. As reported by The Australian, this could result in major changes across their teams and talent pools.

A high-ranking source within the company has verified that significant agreements are currently being scrutinized, as top management is required to explain each expenditure due to mounting pressure from shareholders.

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Tracy Grimshaw, a seasoned broadcaster and former host of A Current Affair (who stepped down at the end of 2022), is one of the well-known figures receiving attention. Since then, she has rarely been seen on screen.

For approximately six years now, the well-known figure from television has allegedly been receiving a decreasing salary of $500,000 per contract, down from her initial $1 million, yet she’s only made one screen appearance during the past half year.

Tracy’s 16-minute conversation with advertising tycoon John Singleton equates to a whopping $16,000 per minute for airtime – sparking rumors within the network that Grimshaw’s contract may not be extended at its present conditions.

Some people believe that Tracy is Nine’s strongest interviewer, but it’s causing internal concern with her high salary considering the limited results she’s producing.

Instead of casually declaring “the budget-focused experts have triumphed,” it’s essential to understand that each second of TV airtime is under careful examination. The reason behind this close scrutiny is that the company must account for every penny spent and demonstrate its financial prudence to the shareholders.

The practice of maintaining employees as idle resources, preventing them from joining competing networks, is no longer common.

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It used to be common practice to keep workers on payroll without work, to stop them from moving to other networks, but those days are gone now.

Simultaneously, Karl Stefanovic, who is estimated to earn approximately 2.8 million dollars annually as the host of the Today show, is rumored to be advocating for an expansion of his wealthy contract.

In my role as a lifestyle expert, I must say that these economic times have placed immense pressure on leaders to cut costs, and it seems that even Karl’s potential agreement within the network might come with some restrictions.

Despite his salary, Karl is considered one of the more cost-effective stars on a per-minute basis.

As a devoted follower of mine, I’d put it this way: During my weekday morning stints, on average, I make about $58 for every passing minute, in contrast to my esteemed colleague Sarah Abo.

At ABC, it’s thought that Leigh Sales, the former 7.30 host, is receiving nearly $400,000 annually, even after leaving her position in the second half of 2022.

In the current year, Sales has limited public appearances to a single significant one: a 14-minute conversation with ABC’s election expert, Antony Green. Additionally, there have been brief 30-second introductions to episodes of Australian Story, which together equate to approximately $8,000 per episode.

However, ABC bosses are said to be more relaxed about her deal.

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2025-06-10 04:33

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