Karl Stefanovic’s ‘massive payday’: Today host’s rumoured multi-million-dollar deal at Nine raises eyebrows
By MEGAN WATTS FOR DAILY MAIL AUSTRALIA
When it comes to the battle of the breakfast shows, time and time again, Seven’s Sunrise has reigned supreme on the popularity podium.
But despite scoring second place in the AM time slot, it is believed that Today Show’s Karl Stefanovic has been offered a whopping multi-million dollar, multi-year deal by Channel Nine.
The breakfast show host, 50, is poised to cash in on a contract of approximately $3million per year, according to The Australian.
‘Nine sources tell us the network’s top brass have just finished passing a hat around at their Denison St headquarters in North Sydney and have managed to scrape together enough loose change to offer him a contract worth about $3million a year,’ the paper’s Media Diary wrote.
Currently on a $2.8million a year contract, Karl is rumoured to see a significant increase in his pay as he continues to front the second-rating breakfast show.
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Despite scoring second place in the breakfast time slot, it is believed Karl Stefanovic has been offered a whopping multi-million dollar, multi-year deal by Channel Nine
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Currently on a $2.8 million a year contract, Karl is set to see a significant increase in his pay as he continues to front the second-rating breakfast show
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According to the publication, Nine is said to have given in to the TV presenter’s demands after he threatened to walk away if they were to lowball on a new contract.
Daily Mail Australia has reached out to Channel 9 for comment.
The news comes as a shock considering rival breakfast hosts Natalie Barr and Matt Shirvington make a meagre $2million between the two of them.
What’s more, Karl’s Today co-host Sarah Abo makes only $800,000 a year according to Mediaweek, highlighting a stark gender pay gap between the two.
Karl’s massive payday comes as the media industry struggles to keep its head above water, with less and less money floating around and some of Australia’s best-known TV personalities facing the reality of pay cuts in the near future.
The nation’s biggest networks are preparing for sweeping budget reductions in a bid to curb ballooning costs during hard times.
Channel Seven, Nine, Ten and the ABC are now under pressure to implement drastic cost-saving measures as advertising revenue continues to plummet – triggering a major shake-up across their national newsrooms and on-air talent rosters, according to The Australian.
A senior Nine insider has confirmed that major contracts are under review, with executives being forced to justify every dollar spent amid pressure from stakeholders.
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Among the most high-profile names under scrutiny is veteran presenter Tracy Grimshaw, who has barely appeared on air since stepping down as host of A Current Affair in late 2022
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The nation’s biggest networks are preparing for sweeping budget reductions in a bid to curb ballooning costs in hard times
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Among the most high-profile names under scrutiny is veteran presenter Tracy Grimshaw, who has barely appeared on air since stepping down as host of A Current Affair in late 2022.
The 64-year-old TV legend has reportedly been on a rolling $500,000 contract ever since – half of her previous $1million salary – but has only appeared on screen once in the last six months.
Tracy’s 16-minute interview with advertising mogul John Singleton translates to a staggering $16,000 per minute of broadcast time – prompting speculation within the network that Grimshaw’s future contract is unlikely to be renewed under current terms.
While some argue that Tracy is Nine’s most powerful interviewer, the optics for such a salary for such minimal output are raising red flags internally.
‘It isn’t simply a matter of saying ‘the bean counters have won’ – the cost of every minute of television is being scrutinised because the company needs to justify every cent that is spent to shareholders,’ the source said.
‘The good old days of keeping people on the books with nothing to do so they don’t end up on a rival network are over.’
Meanwhile, over at the ABC, former 7.30 host Leigh Sales is believed to be earning close to $400,000 a year, despite stepping down from her role in mid-2022.
This year, Sales has only made one major-on air appearance – a 14-minute interview with ABC election analyst Antony Green – plus brief 30-second intros to episodes of Australian Story, amounting to roughly $8,000 per episode.
However, ABC bosses are said to be more relaxed about her deal.
