"Late-night talk show host Jay Leno took a 50% pay cut as part of
NBC's budget-chopping effort last month at "The Tonight Show," the
network said, detailing the scope of the changes for the first time as
well as the reasoning behind them.

The outsized pay cut, which took Mr. Leno's salary down to around $15
million, helped NBC slash the show's $100 million annual budget by
about 20%, the network said. At the same time, Mr. Leno, the leading
late night host, extended his contract for another two years to May
2014."

http://online.wsj.com/article/SB10000872396390443589304577635841079042920.html

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