Olbermann seeks pay boost amid steep budget cuts

Ever ask a grumpy boss for a raise when results were going south?  Not a good move.  But that situation doesn't bother Keith Olbermann, host of cable news channel MSNBC's Countdown with Keith Olbermann.

As NBC Universal, parent of MSNBC (and CNBC), is slashing its budget with $750 million in cuts across all divisions and shedding about 700 jobs by the end of next year, Olbermann is seeking a four-fold pay hike "north of $4 million" a year with his contract due for renewal in April, according to Broadcasting & Cable.

Olbermann, who covered sports until 10 years ago, including six years on Los Angeles TV and radio stations, has been bucking the higher ratings of Bill O'Reilly and The O'Reilly Factor on Fox News Channel in the 8 p.m. EST hour.

Restructuring plans of NBC Universal, owned by General Electric Co., include shuttering MSNBC headquarters in Secaucus, N.J. and centralizing news operations in Los Angeles (perhaps elsewhere, too) to serve NBC, MSNBC, CNBC and three local stations.