GERRY Ryan has signed up for another five years with RTE in a deal worth over €3m.
The radio and TV presenter will earn "in excess" of €600,000 a year for the next five years working for the station.
Contract negotiations have been ongoing for a number of months for the deal, which will stretch until 2012.
Yesterday, his agent Noel Kelly said Mr Ryan (51) would be earning in excess of €600,000 per annum for the next five years.
This marks a substantial pay rise for the star, with figures for 2005 indicating that he pocketed just over €520,000 that year.
The pay hike also comes at a time when listeners to his flagship 2FM morning show have been dropping.
Recent JNLR figures for April 2006 to March this year show listeners to the 'Gerry Ryan Show' were down 15,000 - from 316,000 to 301,000.
Under the new contract, which follows on from another five-year deal, he will be tied in to his weekday radio show as well as a number of TV commitments.
The TV deal will include another series of 'Ryan Confidential', the talk-show vehicle where he interviews high-profile subjects.
The series is currently being filmed and will return to the screens in September.
The pay hike comes at a time when
listeners to his 2FM morning show have been dropping
Another show is also in the pipeline, which will go out via both 2FM and RTE One television. The entertainment show, the name of which has not been released, is due to go on the air next year with the TV and radio elements interlinked, said Mr Kelly.
He said there would be other TV shows over the period of the new five-year contract.
In a statement yesterday, Ryan said he was "absolutely delighted" at the new deal. "This is probably the most challenging and equally the most exciting time of my entire career, time to ignite the third bar on the fire."
RTE's head of TV Noel Curran said the station intended to develop a number of television shows involving Ryan.
The 2FM show has been running for the past 19 years and he has survived a number of shake-ups at the station over recent years.
But it has faced competition from the commercial stations such as Today FM, where Mr Ryan's former colleague at RTE Ray D'Arcy has been attracting large amounts of listeners.
In the last JNLR figures, Mr D'Arcy was the only big name in radio to turn on more listeners when his audience rose from 244,000 to 248,000.
Mr Ryan has traditionally ranked as one of the highest earning RTE stars, trailing only Pat Kenny in the pay stakes. In 2005, Kenny earned a basic salary of €786,240, down on the previous year when he got €900,000 due to back-pay.
The 2005 figures show Ryan earning €520,685 - a rise of €32,000 on the previous year. He has defended his salary in the past by the amount of advertising which is drawn in by the 2FM show.