Sawyer, along with the likes of Peter Jennings, Tom Brokaw, Dan Rather and Ted Koppel, had long ago jumped out of the status of mere reporter and into the realm of superstar draw. But the wooing revealed how the networks are counting on news-magazine shows – and marquee talent like Sawyer – to stop the decline in prime-time viewers. Facing viewers who are increasingly fickle and full of options, the networks are concluding that a news show hosted by a brand name like Sawyer will fare better than the typical hour of drama. The potential drawbacks are evident. The truism that news shows are cheaper to produce than drama is threatened by the rising salaries. But for now the networks are convinced. Sawyer’s courtship, says media expert Betsy Frank, “is comparable to a network in years past making a high-ticket decision to lock up Bob Hope for a long time.”

Sawyer, of course, was no stranger to the reporter-as-star trend. She bolted CBS and its “60 Minutes” in 1989 for ABC to coanchor “PrimeTime Live” with Sam Donaldson for a reported $1.5 million. The show was a disaster at first, deadened by a live audience and an on-camera rapport between Sawyer and Donaldson equaled today only by Nancy and Tonya. But the news magazine gained its footing – the two were separated and Sawyer given a larger role-and today ranks in the top 20. While the research isn’t nearly as straightforward, in the eyes of TV executives Sawyer had done the one thing that counts – deliver an audience – while cementing her status as a star. “You look around and say, who’s in this arena who can bring us something,” says an executive. “There’s Sawyer, Walters, Koppel and few others.”

CBS and broadcast chief Howard Stringer were first to the table, dangling the idea of Sawyer anchoring a news magazine to air weeknights at 7 after “CBS Evening News.” The pay: at least $4 million a year and an ownership stake. But the show would have been syndicated, which meant CBS couldn’t guarantee that affiliate stations wouldn’t run the program earlier than 7 p.m., meaning Sawyer would have to scramble to tape at around 2.

Scratch that one. Sawyer, said one executive, didn’t consider the CBS offer seriously, nor one from Fox Broadcasting. Having agreed to pay an estimated 830 million over four years to former CBS sports announcer Madden, Fox head Rupert Murdoch offered $7 million to $10 million to Sawyer for a Sunday news magazine that would follow the network’s football broadcasts-and compete with “60 Minutes.” Executives said Sawyer didn’t want to join a start-up news organization.

It was NBC’s offer that most intrigued. NBC News president Andrew Lack offered Sawyer unprecedented exposure: lead anchor for a news show that would run Tuesday through Friday from 10 to 11 p.m. The “historic” concept, said an executive, would allow the show to stay atop news stories. The offer was appealing to Sawyer, executives said, in part because she was growing frustrated competing not only with the other networks but with ABC’s shows. “If a story breaks, You have four anchors making the same phone calls to some assistant district attorney,” said a network executive.

ABC News boss Boone Arledge countered the NBC offer by promising to coordinate news-gathering among the network’s news shows-“20/20,” “Day One” and a new one starting in March, “Turning Point” – so Sawyer and others won’t trip over each other when pursuing stories. Plus, Sawyer will alternate with Walters and Jennings on “Turning Point” – which had already been agreed upon – and join the lineup on “Day One,” which the network agreed to shift from 8 p.m. to 10 p.m. Mondays starting in January. Sawyer will now be on prime time three nights a week.

If Barbara Walters started it all, Diane Sawyer won’t end it. NBC is reportedly seeking to placate “Today’s” Katie Couric with a more generous contract. At the risk of irking lesser stars and draining resources, the networks will continue the care and feeding of its brand names, just like soap and toothpaste. The question remains whether these brand names perform as journalists – or products.