GAYLE KING LOSING THRONE!

Ratings, rivalries cut anchor adrift

GABBY Gayle King’s anchor gig at “CBS Mornings” is hanging by a thread — due to slumping ratings and her failure to best her broadcast rivals, insiders dished.

Gayle, 67, recently marked a decade with the network. But sources snitched her $11 million-ayear contract is up for renewal and spies said news honchos Neeraj Khemlani and Wendy McMahon are aiming to ruthlessly slash budgets!

“To be expensive and have no one watching isn’t a winning formula in the TV business,” squealed an insider.

The tipster pointed out despite Gayle’s talents, the show is still languishing in third place behind NBC’s “Today” and ABC’s “Good Morning America.”