ABC announced the deal today, unveiling the plan which puts Katie in as host and producer. Katie's former "Today" show EP Jeff Zucker -- will be the Executive Producer.
TMZ is reporting Katie will make $20 million, mostly for the talk show but there's a relatively small amount for contributing to various ABC news shows.
ABC will most likey give Katie the 3 PM time slot when the show debuts in September, 2012. That's the coveted slot Oprah owned for a quarter century.
Matt Lauer will NOT be part of the show.
LAMediaWatch.com
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