Ryan Seacrest and Clear Channel sign $60 million deal

New York: "American Idol" host Ryan Seacrest has extended his contract with Clear Channel Communications with by three years, with an eye on developing new content in the digital space, the company said Tuesday.

Financial details weren`t disclosed, but the New York Times said the deal was worth $60 million over three years. Seacrest`s original three-year deal, signed in 2008, was estimated to be worth $35 million, the paper said.

Some industry pundits had wondered whether Seacrest would reduce his radio commitment when his existing contract expired given his busy producing commitments on such shows as "Keeping Up With the Kardashians."

Instead, he seems to be increasing his commitment in return for more money, agreeing to develop with Clear Channel new radio content for syndication, including digital platforms. Clear Channel and Seacrest will also explore the creation of TV content, a record label, music publishing business and concert series, the company said.

He will also continue to host the daily "On Air With Ryan Seacrest" on KIIS-FM in Los Angeles and host the American Top 40 chart countdown. Additionally, Clear Channel said he will serve as a spokesman and advocate for the firm.

Bureau Report

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