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Ratings aren't everything, however. Nightline's demographics have aged into Matlock territory, and annual profits have declined from a reported $30 million in 1997 to $13 million last year. (Letterman's show brings in an estimated $25 million in annual profits.) ABC corporate executives also grumble that Koppel makes $8 million a year and is contractually obligated to work just three nights a week...
Though it hurts ABC News staff members to hear it, especially from the lips of a powerful and secretive (or at least anonymous) network executive, Nightline does have a relevance problem. Television has changed significantly since the show debuted during the Iranian hostage crisis 22 years ago. Cable news provides a 24-hour outlet for wonky debate, and the Internet brings headlines home in something akin to real time. Koppel and his producers have wisely adjusted the show's format, shifting from headline news to more in-depth, prerecorded pieces. "The result has been a set of brilliant programs," raves...
...WILL ABC TOPPLE KOPPEL...
DAVID LETTERMAN has often had high praise for one of his late-night rivals, ABC's Nightline anchor TED KOPPEL. But, hey, Dave, what's all this about a possible move to ABC, presumably to take Koppel's long-held time slot? When reports leaked out that ABC was negotiating with Letterman, whose CBS contract expires in six months, disgruntled ABC News staffers (are there any other kind?) hit the roof. Nightline's ratings have been sagging, and ABC is under pressure from corporate parent Disney to boost its profits. But top news execs were miffed that they hadn...
...flooding the market with discounted furniture. "It was as bad an industry downturn as we've experienced in our careers," says Joel Havard, vice president of equity research at BB&T Capital Markets. Amid that wreckage, Mitchell Gold is opening its very first store, a self-contained shop at ABC Carpet & Home, the upscale New York City clearinghouse for fine housewares of every kind...