CBS News has appointed Nick Bilton as executive producer of its flagship program 60 Minutes, offering him a reported annual salary of $2.5 million despite his complete lack of experience in broadcast news.
The specifics of Bilton’s compensation were disclosed to The Daily Beast on Tuesday by two sources familiar with CBS News’ business operations.
The amount is below the top earnings of some of the program’s established correspondents, who can receive up to $5 million per year.
Bilton, 49, previously worked as a tech journalist and correspondent for The New York Times and Vanity Fair.
He is the author of two New York Times bestselling books and has credits as a filmmaker. He has no prior experience producing or working in traditional television news.
The appointment was made by CBS News Editor-in-Chief Bari Weiss, 42, who herself has no previous executive experience in television news.
Weiss defended the hire in comments to The New York Times, citing Bilton’s understanding of emerging technologies and his ability to tell stories across multiple platforms.
“He has been the one to see the tsunami before the wave hits the rest of us,” Weiss said.
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Bilton told the publication that bringing in outsiders is necessary for change. “When you take an insider, and you put them inside a company, nothing changes,” he said.
“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.”
During his first all-hands meeting with correspondents and producers on Monday, Bilton stated that “broadcast is an ice cube that is melting.”
He also addressed recent staff changes, saying, “For me, the journalism is the journalism. That is why I am here. That is why we are all here.”
As reported by the Daily Mail, the appointment and Bilton’s remarks came after a round of firings at the program on Thursday. Correspondents Sharyn Alfonsi and Cecilia Vega were let go, along with the show’s two top producers, Tanya Simon and Draggan Mihailovich.
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With those departures, 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.
One of the program’s top correspondents, Scott Pelley, greeted Bilton’s arrival with open hostility during the Monday meeting, according to reports.
Senior producers at the show earn between $200,000 and $300,000 annually, while associate producers make up to $150,000. Each story produced by 60 Minutes costs roughly $75,000, covering production and travel expenses.
Bilton’s selection is part of broader changes at CBS News following its acquisition by Skydance Media. Weiss was installed as Editor-in-Chief to overhaul the division.
Bilton has not previously held a senior production role at a major news organization. His background is primarily in print journalism and digital storytelling focused on technology.
CBS News did not immediately respond to a request for comment at the time of publication.
