Matt Lauer Announces New Contract on 'Today,' Al Roker Lampoons Keith Olbermann (Video)

The long-running host of the No. 1 morning program re-upped at NBC on Thursday, and was humble and cheerful during the Friday broadcast.

Matt Lauer is staying at the Today Show -- even if his hair may not abide by the terms of his new contract.

The 15-year anchor of NBC's No. 1-rated morning show formally announced his new deal during Friday's broadcast, which is said to be worth around $25 million a year. 

Calling the Today team his "family," Lauer was more self-deprecating than boastful.

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"Truth be told," he laughed, "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."

He was one-upped in the comedy department, though, by colleague Al Roker, who broke into a spirited, mocking impersonation of former NBC family member, the recently-fired (and now litigious) former Current TV anchor, Keith Olbermann.

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