Smith news: cable's biggest salary

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Fox News Channel anchor Shepard Smith has re-upped with the network.

Financial terms of the deal weren't announced, but reports said the multiyear deal would put him about $7 million a year, which would be more than anyone else on cable news. It would also put Smith, who has been with Fox News Channel since the beginning, in the salary range of network stars. Katie Couric is probably the highest-paid anchor in television, with an average salary of $15 million a year.

Smith has been a face of Fox News through his two weekday news shows: "Studio B With Shepard Smith" and "The Fox Report." "Fox Report," which airs at 7 p.m. ET, is a fast-paced news show that has gained a loyal following and recently moved into new high-tech quarters.

"Fox Report" is up 14% year-to-year in November with an average of 1.5 million viewers nightly, according to Nielsen Media Research.

The former local TV reporter from Mississippi joined Fox News Channel in 1996 and has anchored "Fox Report" since 1999. He covered such events as the Sept. 11 terrorist attacks and the Clinton impeachment before shooting to stardom in 2005 with his coverage of Hurricane Katrina in his native Gulf Coast region.
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