Katie Couric, CBS News to Part Ways Before Contract Expires?:

CBS News may be ready to part ways with ‘CBS Evening News’ host Katie Couric, according to a report in the Wall Street Journal on Wednesday.

CBS executives and people close to Couric say she could leave the network after the presidential inauguration early next year, well before her contract expires in 2011, the Journal reports.

Ratings for the ‘CBS Evening News’ trail rival newscasts on ABC and NBC by wide margins, despite the fanfare that accompanied Couric’s arrival to the network in June of 2006, the Journal reports.

I don't buy this report. This marks about the 7th time in as many months that I've heard a rumor putting Katie and CBS at odds. As we pointed out last week, her ratings have been slowly creeping back and her contract doesn't end for years. The money is already spent and there is no magic resolution to this problem. What's the alternative here? Are they going to put Bob Shieffer back in the seat at 71-years-old? He doesn't even want the job. The other viable options (Anderson Cooper, John Roberts) don't seem like an immediate antidote to their ratings problems. I say Katie stays.

Most of this nonsense is being stirred up internally from people, like Shieffer, who have an axe to grind. CBS should stick to selling the brand over the ratings until they can once again become a viable dog in the race. Katie can make a move to 60 minutes in 2011.

Update: The WSJ also says Couric may replace Larry King on CNN.