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Couric announced on April 5, 2006 (her 15th anniversary as permanent co-host of Today), that she would be leaving the show, despite a 20 million dollar a year salary offer. “I wanted to tell all of you out there … that after listening to my heart and my gut, two things that have served me pretty well in the past, I've decided I'll be leaving Today at the end of May." she said. “I really feel as if we’ve become friends through the years”. Couric appeared emotional at times as she made the announcement on Today. “Sometimes I think change is a good thing,” she said. “Although it may be terrifying to get out of your comfort zone, it’s very exciting to start a new chapter in your life".

CBS officially confirmed later the same day that Couric would become the new anchor and managing editor of the CBS Evening News with Katie Couric with her first broadcast set for September 5, 2006. Couric would also contribute to 60 Minutes and anchor prime time news specials for CBS. Couric would remain the highest-paid news anchor at $15 million per year.

Many criticized the move by CBS to promote Couric to the broadcast chair. The criticism centered on Couric's lack of experience in hard journalism and credentials necessary to be a sole anchor of the CBS Evening News, when compared to previous anchors such as Dan Rather and Walter Cronkite, who was named in multiple viewer polls "The Most Trusted Man in America". Beginning in 2005 and through 2006, the Today program faced increasing competition from Good Morning America, which became more popular when Robin Roberts joined Charles Gibson and Diane Sawyer as co-hosts. Thus, Couric had a choice to either continue as host of the Today show or take the risk and go on the CBS Evening News where she gambled that she would be successful.

On July 20, 2006, Access Hollywood (an NBC Universal program) reported that Katie intended to avoid certain anchoring situations that previous anchors have taken on. When asked about traveling to the Middle East, Katie was quoted as stating, "I think the situation there is so dangerous, and as a single parent with two children, that's something I won't be doing". Access Hollywood later corrected this report, saying it was misleading and was based on a statement made by Couric after CBS correspondent Kimberly Dozier was injured in Iraq in May while Katie Couric was still co-hosting at Today.

Couric anchors her first broadcast of CBS Evening News on September 5, 2006Couric made her first broadcast as anchor and managing editor of the CBS Evening News with Katie Couric on Tuesday, September 5, 2006. The program featured a new set, new graphics, and a new theme (composed by prolific movie score composer James Horner, and featuring a voice over from Walter Cronkite). It was the first evening newscast to be simulcast live on the Internet and local radio stations. Critics gave mixed reactions about the first broadcast, which drew around 13.6 million viewers, the highest ratings for the CBS Evening News since February 1998 and double the usual number of viewers. On September 19, 2006 the program placed first in weekly ratings. However, Couric's second week as anchor pulled in a close margin between rival NBC Nightly News with CBS's 7.9 million viewers compared to NBC's 7.3 million viewers for the week of September 11 – September 15, 2006. (Couric fell to third place on September 11, 2006 for that particular day with NBC, and ABC respectively taking first and second place, yet CBS remained at first place for the remainder of week.) By October 6, Couric had slipped to third place for the second week in a row, trailing ABC News by more than a million viewers. The CBS Evening News with Katie Couric continually finishes last in all major markets.

CBS News executives, along with those close to Katie, have stated that it is "very likely" that Couric will vacate the anchor chair as early as January 2009 — two years before her contract expires, according to the Wall Street Journal.

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