Matt Lauer’s contract known as for him to be paid tens of hundreds of thousands of . However NBC does not count on to pay it now that he is been fired.
Lauer “won’t be paid previous his final day of labor,” a senior NBC supply informed CNNMoney on Friday.
Questions have been swirling concerning the risk as a result of the New York Publish printed a narrative on Thursday that mentioned Lauer’s legal professionals have been angling to get him a payout.
New York Publish’s headline: “Lauer’s legal professionals attempting to get him $30M payout after firing.”
The $30 million determine was predicated on the truth that Lauer was paid about $20 million a yr to co-host the “Immediately” present — a rare sum of cash that displays how worthwhile the morning present is.
The sprawling “Immediately” present franchise makes lots of of hundreds of thousands of a yr in advert gross sales.
Lauer’s contract was believed to run out in late 2018. Nonetheless, the New York Publish indicated that it prolonged by way of the primary half of 2019, resulting in the $30 million determine.
The senior NBC Information supply didn’t dispute that Lauer’s attorneys would possibly hatch a plan to get him paid. However the supply mentioned the community won’t comply with any payout.
Tv information contracts sometimes embody a morals clause, giving a community some flexibility to fireside a high-priced anchor for trigger.
These types of points generally find yourself in arbitration or courtroom, however are often settled privately.
Two folks near Lauer expressed doubt that he would play hardball along with his former community. Given experiences about his yearly wage over the previous decade, he has doubtless already been paid effectively in extra of $100 million throughout his time at NBC. He has a number of properties and investments.
Earlier this week, a supply mentioned that Lauer was accepting of NBC’s determination to terminate his contract, and expressed regret when NBC Information chairman Andy Lack known as him with the information on Tuesday night time.
In a press release on Thursday, Lauer mentioned he was “really sorry” for the ache he has triggered.
Three ladies are identified to have filed formal complaints with NBC this week about Lauer’s alleged wrongdoing. The primary harassment criticism, made on Monday night time, triggered an inside investigation and Tuesday night time’s firing determination.
After his termination was introduced on Wednesday, two different accusers reached out to the community.
In a memo on Friday, Lack mentioned NBCUniversal would conduct a assessment of what occurred and would strengthen its inside processes in order that staffers really feel protected coming ahead with allegations of misconduct.
Paying Lauer an enormous sum of money on the way in which out the door would arguably ship a opposite message.
21st Century Fox was extensively criticized for paying former Fox Information chairman Roger Ailes when he resigned beneath stress amid a sexual harassment scandal final yr. The criticism resumed when Invoice O’Reilly reportedly acquired about $25 million, a severance cost amounting to 1 yr of his four-year contract, when he left Fox earlier this yr.
CNNMoney (New York) First printed December 1, 2017: three:37 PM ET
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