TELEVISION'S first wage war since the global financial crisis is set to erupt after game-show and morning-television host Larry Emdur re-signed with Seven on a deal worth well in excess of $800,000 a year.
The new contract prevents the popular Morning Show co-host from defecting to rival Nine. It is expected to put pressure on TV executives to bump up salaries for other top-line on-air talent.
Emdur, 46, is now in the same pay bracket as stars including Sunrise host David Koch, A Current Affair's Tracy Grimshaw and The X Factor judge Kyle Sandilands.
The Sunday Telegraph understands Emdur's contract includes continuing his Morning Show co-hosting duties with Kylie Gillies.
Channel 9 had been aggressively pursuing Emdur for its Today show, and Nine chief executive David Gyngell recently held "informal chats" with his "surfing buddy".
This followed current Today host Karl Stefanovic publicly discussing his desire to move to Nine's flagship current-affairs program, 60 Minutes, after six years in the morning chair.
Sources at Nine said they believed Seven had offered Emdur $1 million a year to stay - a figure denied by Seven Network spokesman Simon Francis, who confirmed the counter-offer had been made late on Friday.
Francis refused to discuss details of Emdur's new contract, but the figure signals that recent fiscal woes are over, especially as networks open up revenue streams via added digital channels.
A senior Seven source said Emdur's new salary package set a "dangerous precedent" that could prompt disquiet among network talent.
"There are other people working just as hard in roles that are, if not harder, then certainly more high-profile," the source said.
"This pushes everything over the edge a bit. People can be funny about how much their colleagues are making."
Emdur's package follows Nine's recent plundering of Seven presenters Jennifer Hawkins and Jamie Durie.
Last week, The Sunday Telegraph revealed comedians Hamish Blake and Andy Lee had signed to Nine. They were said to have been in Seven's sights for some time.
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Television commentator David Knox said: "The way some moguls are investing in television, it's pretty clear the industry has turned a corner.
"If you're in a strong position, with a proven track record, you're well placed to benefit from any bidding war."
A close friend of Emdur said his new contract was "a s***load of money", adding that his decision to remain at Seven was built on "loyalty as well as opportunity".
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