From a partial transcript, h/t Mediaite (I don’t know who did this transcript, but I tried to fix it as much as possible for spelling and punctuation errors.):

Barbara Walters: It’s why I sometimes have trouble here and don’t give my opinion because I’m also with ABC news. If you are a commentator and you’re giving opinions, you’re in one category.

Sherri Sheppard: Is that a pundit?

Walters: You can call it a pundit. If you are giving the news straight, you’re not supposed to give your opinions. Now, that’s changed so much. We’re in a whole other time now. Everybody has an opinion. If you don’t make more noise or scream louder or so on, you don’t get the ratings. So it is a funny blurred line. They said he’s a journalist, he’s a correspondent, and he’s not supposed to give opinions. But when he goes on another cable show like Fox and does it — so it’s a very blurry line. In the meantime, we hope he’ll come on with us and, if nothing else, give Joy and Whoopi 10%.

Sherri Sheppard: Bring your checkbook with you.