Report: Leno To Receive $15m For Stepping Down

NBC agreed to pay Jay Leno $15 million as a sweetener to encourage him to step down in February as host of the Tonight show and allow Jimmy Fallon to take over, the New York Daily News reported on Thursday, citing unnamed industry sources. Leno's current contract expires in September, but NBC reportedly wanted to make the changeover in February so that it could be promoted during its coverage of the Winter Olympics. While the pay-off sounds steep -- it's comparable to what Leno earns yearly to host the late-night show -- it is well known that Leno banks all of his NBC earnings and lives off the fees he receives from appearances in Las Vegas showrooms and comedy clubs. (Even his detractors concede that he is one of the hardest-working performers in the business.) Neither Leno nor NBC officials would discuss the report, but a source close to Leno disputed it, indicating that Leno merely had a play or pay clause in his contract, and that he would be paid until the end of his contract and would receive no severance bonus. Last year he reportedly agreed to cut his pay from $25 million in order to save the jobs of members of his staff. Meanwhile, the London Daily Mail reported that Jimmy Fallon will receive $12 million per year when he takes over Tonight. He currently earns $5 million per year year as host of Late Night.



Contactmusic

Tags: Jay Leno - Jimmy Fallon - Las Vegas

Advertisement

More Jay Leno

Jay Leno Will Be Awarded With Mark Twain Prize For Humour

The now retired 'Tonight Show' host Jay Leno is set to receive the Kennedy Center's 2014 Mark Twain Prize for American Humor.The award is to...

Clive Davis Joins Growing Backlash Against Hotel, After Sultan Owner Introduces Brutal Sharia Law

Record producer Clive Davis has become the latest big name to shun hotels owned by Sultan Hassanal Bolkiah, who announced last week that he would...

Jay Leno Addresses Old Rival David Letterman Retiring

It has only been a matter of days since David Letterman announced that he will retire once his current contract with CBS expires.The longtime 'Late...

Veteran Stand-Up And Touring Comedian John Pinette Dead At Age 50

Veteran US comedian John Pinette has been found dead in his Pittsburg hotel room over the weekend. According to the coroner’s office, via The Hollywood...

Advertisement

Jimmy Fallon Makes Unforgettable Tonight Show Debut

Ladies and gentlemen, meet your new Tonight Show host, Jimmy Fallon. Fallon’s first ever Tonight broadcast, live from New York, finally happened, capping off months...

Jimmy Fallon Stands On The Shoulders Of Giants In "The Tonight Show" Takeover

Jimmy Fallon. The Tonight Show. New York. These three things sound like a great combination, but we won’t know for sure until Fallon actually takes...

Jay Leno Signs Off After 22 year Career On Final 'Tonight Show' In Teary Farewell

The last ever 'Tonight Show', hosted by Jay Leno, aired this past Thursday (Feb 6th).The 63 year-olds stint at the NBC talks-show lasted for over...

A Week In News: A Screen Legend Dies, A TV Legend Makes His Exit, And The World's Weirdest Boxing Match

RIP Philip Seymour Hoffman: The world lost a true talent when actor Philip Seymour Hoffman was found dead in his apartment last Sunday after a...

Advertisement

Comments

Jay Leno Newsletter

Subscribe to this news alert service to receive news and reviews on Jay Leno

Unsubscribe | Unsubscribe All