Matt Lauer on NBC News' 'Today' show. Credit: Peter Kramer/NBC/NBC NewsWire via Getty Images

Two more years of Matt! Today cohost Matt Lauer has signed a massive new deal at the morning show. 

A source confirms to Us Weekly that Lauer extended his contract with NBC to keep him at the position for at least two more years at $20 million per year. The journalist, who first joined the Today show in 1994 as news anchor and became a coanchor in 1997, last renewed his contract in 2014.

“The new deal will take him well into 2018,” a source told the New York Post, which was first to report the news. Multiple sources also told the paper that the contract has been signed for months.

Lauer’s renewed agreement will keep a familiar face at the talk show amidst several changes. Cohost Savannah Guthrie will be on maternity leave soon as her December due date approaches. Billy Bush also abruptly exited the Today show in mid-October after his involvement in the lewd Access Hollywood conversation with Donald Trump.

The move also comes after Lauer, 58, was heavily criticized for his moderation of the Commander-in-Chief Forum with Trump and Hillary Clinton back in September. Viewers were disappointed that he spent a good portion of the limited time grilling Clinton about her email scandal and that he failed to fact-check Trump on his claims about the Iraq War.

Reps have not yet responded to requests for comment by the New York Post or Us Weekly

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