has signed a new five-year contract with ABC News for a reported $12 million a year. As part of the pact, Walters will continue anchoring 20/20 Friday
and will appear on The View
the morning gabfest she co-owns three times a week. The deal also calls for her to host two primetime specials a year (down from four), one of which will be her annual Academy Awards tie-in. "Barbara Walters is one of the most accomplished journalists ever to work in television news," says ABC News president David Westin
. "Barbara has made extraordinary contributions to the national discourse as well as to ABC News and we look forward to this next chapter in her storied career."