Walters close to closing ABC deal

Barbara Walters is close to signing a new multiyear contract-worth an estimated $12 million a year, according to a story in last Wednesday's New York Post. Barbara Walters' spokeswoman Cindy Berger would neither confirm nor deny the report. But she did tell the Post that the negotiating process between ABC and Walters has "been going very well."

ABC sources confirmed that the ABC News star has "come closer" to terms with the network in the last month. An ABC News spokeswoman declined to comment on the situation. Earlier this summer, Walters issued a statement confirming some interest by an outside party (widely believed to be CBS).

Sources say Walters is privately denying the $12 million figure, although it was unclear how far off that number is. And it was not clear that Walters had given a verbal agreement to stay at ABC as the Post reported. What is clear is that a deal has not yet been signed.

Walters' agent Ron Konnecki could not be reached for comment. Walters is on vacation for the next two to three weeks.