Matt Lauer’s replacement was officially announced this week: long time anchor-reporter, Hoda Kotb. She has confirmed her salary is “not even close” to what Lauer was making.

According to Page Six, Kotb agreed to a $7 million a year contract. Lauer was getting $25 million before he was fired for inappropriate sexual behavior.

The source notes that Lauer’s salary reflected his 25 years on the Today show.

Kotb has been co-host hour four of Today with Kathie Lee Gifford for nearly a decade.

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