Katie Couric leaving NBC in May

Danny Diamond

Founder/Admin

LOS ANGELES, California (Reuters) -- Katie Couric is expected to announce her departure from NBC's "Today" show Wednesday, paving the way for her to join rival CBS and become the first woman sole anchor of a major U.S. network evening newscast, people close to the situation said.

The sources, speaking on condition of anonymity, said Tuesday Couric would announce her departure from NBC during a "Today" show broadcast marking her 15th anniversary as co-host of America's No. 1 morning program.

They added Couric, 49, has agreed to replace veteran CBS News correspondent Bob Schieffer in the CBS Evening News anchor chair he assumed on a temporary basis in March last year after Dan Rather stepped down.

Rather had come under fire for a botched "60 Minutes II" report on President Bush's military record. Before Rather's 25-year tenure, the CBS anchor seat was held by pioneering broadcaster Walter Cronkite.

One well-placed source said Couric would likely mention her move to CBS when her exit from "Today" is announced on Wednesday's telecast. But a formal announcement by CBS is expected later.

Couric is one of the most highly paid figures in U.S. television, signing a 4 1/2-year renewal deal with NBC in December 2001 that sources said was worth about $60 million.

Couric's contract with NBC expires on May 31, but sources said the network allowed her to enter into early direct negotiations with CBS as part of an amicable parting of the ways.

Speculation about Couric's future has generated intense media attention due to her enormous popularity, the economic interests at stake for all three major networks and the landmark nature of the move.

Three women -- Barbara Walters in the 1970s on ABC, Connie Chung on CBS in the 1990s and more recently Elizabeth Vargas on ABC -- have been appointed alongside men as co-hosts of a weeknight newscast on one of the major networks. But Couric would be the first given the anchor job permanently in her own right.

Sources said she also would contribute to CBS' weekly prime-time news magazine "60 Minutes," as Rather did.

There was no immediate word on who would replace Couric as "Today" co-host with Matt Lauer. But speculation has centered on two NBC News colleagues, Campbell Brown and Natalie Morales, as well as Meredith Vieira, co-host of ABC's talk show "The View."

Keeping Couric in place had been seen as vital to efforts by "Today" to hold its own against ABC's "Good Morning America," the No. 2 network breakfast show, which narrowed the ratings gap between the two last spring.

"Today" has ranked as the No. 1 network show in morning ratings for more than a decade, making it one of NBC's most important assets. The news program generates about $250 million in profit for NBC annually.

Couric's expected move marks a major coup for CBS chief Leslie Moonves, who is eager to revamp the evening newscast to lure younger viewers.

But industry analysts have noted that the third-ranked network evening newscast has shown marked ratings growth in the year since Schieffer, 69, took over from Rather.

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