NBC refusing payout for Matt Lauer

Matt Lauer is reportedly seeking $30m following his termination from NBC -but the network won’t pay him a brass razoo.

The Today host was making anywhere from $20 million to $25 million a year and still had 18 months left to run.

But Lauer’s contract also included a morals clause and the network will not pay beyond his last day. This contrasts with payouts given to Roger Ailes and Bill O’Reilly both reaching settlements worth tens of millions of dollars with left FOX News Channel several months ago.

Two people close to Lauer expressed doubt that he would play hardball with his former network. Given reports about his yearly salary over the past decade, he has likely already been paid well in excess of $100 million during his time at NBC. He has multiple properties and investments.

In a statement this week, Lauer said he was “truly sorry” for the pain he has caused.

Source: CNN

9 Comments:

  1. In this economic climate networks have not been reluctant to shed expensive talent as soon as they risk causing damage to their brand. What’s Lauer going to do? Sue forcing NBC making all the details of the allegations public in the court records. Fox had just agreed to a $US 25m contract with O’Reilly, when they knew about the sexual harassment allegation and O’Reilly’s private settlement of them, so had to pay that out. Ailes was Chairman and CEO of Fox and had performance based stock contracts. He denied the allegations, which were 30+ years old and was going to fight them in court. Fox reached a $US 40m settlement for him to go quietly.

  2. He’s clearly breached the terms of his contract and one would imagine the NBC code of conduct, surely that renders the remainder of the contract void?

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