Barbara Walters 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."