Mike Francesa has agreed to a 20% pay cut through July, he confirmed on Friday, joining WFAN’s other highest-paid hosts in seeking to help the station through a business downturn caused by the COVID-19 pandemic.
Entercom, WFAN’s parent company, announced Thursday that it would institute company-wide furloughs, layoffs and pay cuts, starting with CEO David Field taking a salary reduction of 30%.
Those Entercom employees approached about pay cuts were asked to take reductions ranging from 10 to 20%, based on salary level.
The FAN’s highest-paid hosts — believed to include Francesa, Boomer Esiason, Gregg Giannotti, Evan Roberts and Joe Benigno — were in the 20% range.
A source familiar with the process said all of the highest-paid hosts are believed to have agreed. Esiason told The New York Post on Thursday that he would do so.
Because the hosts are under contract, the pay cuts were not mandatory.
It appears WFAN’s production side will be spared layoffs for now.
Two longtime update men, John Minko and Harris Allen, accepted buyouts this week. Minko’s final shift was 11 a.m. to 5 p.m. Friday. He has been at the station since it launched on July 1, 1987.