CBS is in talks to rebrand its Hollywood newsmagazine The Insider. The change will see the show rebranded as OMG Now, which is the name of a popular Yahoo vertical. Yahoo will pay CBS about $10 million dollars, according to speculation.
Brad Bessey, who had worked on Entertainment Tonight (which CBS produces), is in talks to return as show runner of the revamped daily show and Linda Bell Blue, longtime executive producer of both E.T. and The Insider, is expected to have the same title on OMG Now.
Insider, hosted by Kevin Frazier and Brooke Anderson, is in its ninth season. Both Frazier and Anderson are expected to return to the revamped show, which should hit the air in January 2013.
CBS held discussions with various media outlets about co-branding The Insider, but now it appears it will focus entirely on Yahoo. It is a good move for Yahoo. Ten million dollars is nothing for the kind of access and advertising this will bring.
The deal could be closed within a week, according to sources.
The Insider debuted in 2004 as a spinoff of E.T. It has changed formats a few times, including a tabloid approach and a roundtable-style presentation like The View. Nothing seems to really stick, though. It has been a traditional newsmagazine since September 2010.
Frazier was named co-anchor of Insider in March 2011 and shortly after that Anderson replaced Laura Spencer.