Cable News Network is wrapping up a four-year contract extension with talk-show host Larry King, reportedly paying him close to $30 million.
The deal will give King, who has been CNN's top-rated host for years, $6
million to $7 million per year, plus periodical access to a private jet and stock
options in CNN parent AOL Time Warner Inc.
Speaking at the Television Critics Association tour, Turner Broadcasting System Inc. chairman Jamie Kellner
said, "For the viewers, for Larry, for us, for everybody, it's a great decision
to know that Larry will be there in that position for years to come."
The 68-year-old King is vying with Fox News Channel's Bill O'Reilly as the
highest-rated cable talk-show host.
Losing King would dramatically disrupt CNN's schedule and ratings