Matt Lauer Announces New Deal to Remain on TODAY Show

It's official! Matt Lauer announced live on this morning's TODAY show that he has signed a new long-term contract with NBC News to stay on as anchor of the popular morning news show.  "This is my family," said Lauer, as the crew and co-anchors erupted into applause. "I love this job, I love working with you guys."

Joked the host, "Truth be told, I was developing an idea for a new show, where viewers could tune in every morning and see someone they know lose a little more of his hair every single day right in front of their eyes. But then I thought, I could just stay here and do that."

Lauer has co-anchored the show since January 6, 1997. He joined the morning program in January 1994 as the news reader.