Multiple sources tell FTVLive that executives at ABC News are "in a panic" over Good Morning America losing in the demo ratings to NBC's Today Show.

"They are totally freaking out," says one ABC sources to FTVLive.

When GMA passed the Today Show, spirits were high at ABC, that high spirit has been replaced by panic. A number of meetings have been held behind closed doors and "everything is being looked at," another source tells FTVLive.

NBC played it smart.

While they did not go after ABC's locked in main players, they picked off a few second teasers and it seems to have hurt GMA.

NBC hired away Josh Elliot and banished him to NBC Sports where he is rarely seen.

NBC owned Weather Channel plucked away Sam Champion, where he will now be seen just one day a week on a prime time show that no one will watch.

NBC stayed the course and when their ratings bottomed out, they continued with minor tweaks and addition of second string talent. It seems that the Peacock learned their lesson after the Ann Curry fiasco and is now back in the ratings driver seat.

ABC suits are working hard to figure out how to get their hands back on the wheel. 

Stay tuned.....