ABC News were willing to spend $5 million to keep the 42 year-old on 'GMA', but he has chosen to go for NBC sports which offered a $4 million annual deal.
Josh Elliot will no longer be appearing on 'Good Morning America.'
The 42 year-old, who has been considered a key member of 'GMA's team since joining in 2011, is leaving the morning show to join NBC Sports.
However, interestingly Elliot will be getting paid less than he would have if he chose to stay with ABC.
Multiple sources have told The Hollywood Reporter, the television journalist will stand to make $4 million annually in a long-term contract at NBC. This differs from the $5 million ABC offered in an attempt to keep him on their network.
Elliot was allegedly asking for $10 million per year, but ABC was definitely not willing to shell out that amount of money.
In a rare and very open memo, sent on Sunday night (March 30th), ABC News president Ben Sherwood acknowledged the departure of Josh.
"Josh Elliott let us know today that he is going to NBC Sports. As many of you know, we have been negotiating with Josh these past several months," he wrote in the memo. "In good faith, we worked hard to close a significant gap between our generous offer and his expectations. In the end, Josh felt he deserved a different deal and so he chose a new path."
"I want to thank Josh for his many contributions to GMA and ABC News. Later in the week, we will bid him farewell," Sherwood continued. "With Robin, George, Lara, Ginger and Amy, GMA's best days are ahead."
The candid nature of the email is thought to be Sherwood taking a shot at Elliot and his management, for leaving 'GMA' before his contract is over.
The news anchor's terms of his new NBC Sports deal are still unknown but an announcement is likely to take place later this week.
Elliot's replacement has already been announced as Amy Robach, and she will begin her stint as the newsreader and co-host of the morning show immediately.
Elliot took a pay-cut to work for NBC Sports