Anchor contract info, please

[Newzie52]

I'm looking for some input from anchors about the terms of employment in your contracts; specifically, how long is the "no cut" portion of your contract, if any; how much notice of termination (60 days? 120 days?) I'm trying to find out what's currently typical, if anything is.

I'm an experienced primary anchor at the #1 shop in a medium market, dealing with new owners/mgmt. for the first time. While the $$$ are fine, it is a decidedly one-sided contract, as offered; I'd be obligated to them for quite a while, but they could release me with just a few months notice. I'm certainly willing to make a long-term commitment, but it would be nice if that were reciprocated to some degree. I've been fortunate to this point with management and owners, so this is an unpleasant change.

At this stage in my career (about 7-10 years to retirement) I really don't want to move, as we have deep roots here.

Any input from other anchors would be most appreciated. I'm just trying to find out if this is the way things are most places. Thanks.

[southwesternguy]

I'm looking for some input from anchors about the terms of employment in your contracts; specifically, how long is the "no cut" portion of your contract, if any; how much notice of termination (60 days? 120 days?) I'm trying to find out what's currently typical, if anything is.

I'm an experienced primary anchor at the #1 shop in a medium market, dealing with new owners/mgmt. for the first time. While the $$$ are fine, it is a decidedly one-sided contract, as offered; I'd be obligated to them for quite a while, but they could release me with just a few months notice. I'm certainly willing to make a long-term commitment, but it would be nice if that were reciprocated to some degree. I've been fortunate to this point with management and owners, so this is an unpleasant change.

At this stage in my career (about 7-10 years to retirement) I really don't want to move, as we have deep roots here.

Any input from other anchors would be most appreciated. I'm just trying to find out if this is the way things are most places. Thanks.


This probably doesn't help that much in your specific situation, but the last two contracts (both at top 15 markets) included 90 day "no cuts" as you put it.

I'm a weekend sports anchor by the way.

[Roy Hobbs]

At this stage in my career (about 7-10 years to retirement)

Given the current trends of the industry that would make you about 18. You can always go back to the school paper and work that newspaper route on the side!

http://images.jupiterimages.com/common/detail/32/70/22857032.jpg

[Newzie52]

Given the current trends of the industry that would make you about 18. You can always go back to the school paper and work that newspaper route on the side!

http://images.jupiterimages.com/common/detail/32/70/22857032.jpg

WAY past 18 (as are my kids!) Sometimes that paper route sounds good, though. I'm thinking law school in my next life. Just got to hang on.

[lilymadison07]

Hi...don't you hate negoiations. I've been an anchor for a long time and contracts are always one sided for the employer. That said , my contract has a one year non-compete if I quit..doesn't apply if I'm fired. And they are required to give me six months notice if they do not intend to renew. Of course, they have outs in their allowing them to fire me but it must be for cause. If you can get the six months notice option, at least it gives you a few months to get your bearings and begin the search for something else. Good luck!!

[Newzie52]

Hi...don't you hate negoiations. I've been an anchor for a long time and contracts are always one sided for the employer. That said , my contract has a one year non-compete if I quit..doesn't apply if I'm fired. And they are required to give me six months notice if they do not intend to renew. Of course, they have outs in their allowing them to fire me but it must be for cause. If you can get the six months notice option, at least it gives you a few months to get your bearings and begin the search for something else. Good luck!!

I hate negotiations so much that I am not doing it myself; I hired someone with negotiating skills to deal with them (not an agent, which I've never had, just someone fairly intimidating and very smart...)

I've always had the non-compete, as well, though I've seen some of those thrown out by courts; takes too long, though. I would have a decent chance of popping up at another station in the market after a year, I believe.

What my station is wanting is an "at any time, with 90 days notice" deal for them - 4 years with no outs for me. One sided to extremes, as you say. I've always had at least 2 years guaranteed up front on 4-5 year deals, with the contract kicking in for another year if they didn't notify me 3 months in advance. I'm not exactly an unknown quantity here. I figure 1) this company sucks 2) they want to cover their asses in case of a sale to some cheap, crappy private equity firm.

I really appreciate the feedback; it shows me how very fortunate I have been to this point, working for decent people for several decades, and how thoroughly miserable this bunch is in contrast.