Ryan Seacrest will probably take a pay cut to host the revived ‘American Idol’

Ray Mickshaw/FOX

Ryan Seacrest on “American Idol.”

Ryan Seacrest is expected to sign on to host ABC’s “American Idol” revival, but he’ll probably have to take a pay cut.

According to The Hollywood Reporter, after a few rounds of negotiation, the offer for Seacrest currently stands at somewhere north of $10 million with an executive producer credit added on, which THR referred to as “coveted.” Discussions involve Seacrest, ABC, and “Idol” producers FremantleMedia North America.

After hosting “Idol” at Fox for 15 seasons, Seacrest was earning $15 million a year. But that didn’t include the status of an executive producer role on the show.

According to the report, a major factor in Seacrest’s reduced offer was Katy Perry’s record $25 million salary to judge the competition. As a result of Perry’s deal, FreemantleMedia offered Seacrest something in the area of $5 million. Seacrest walked away from the negotiations and ABC was forced to up the ante.

While Perry’s price tag is exceptionally high, ABC had to announce a big get. Not only was Seacrest’s deal not closed yet, but “The Voice” slyly signed two of “Idol’s” most successful alums, Kelly Clarkson and Jennifer Hudson, as coaches for its upcoming 13th season. Clearly, that was a blow to the returning “Idol.”

In May, Seacrest started cohosting the syndicated morning talk show “Live with Kelly and Ryan.” He’s also the host and executive producer of E!’s “Live from the Red Carpet” and “Dick Clark’s New Year’s Rockin’ Eve” He also produces E!’s “Keeping Up With the Kardashian” franchise, among other shows. In addition, he hosts and executive produces his syndicated morning radio show, “On Air with Ryan Seacrest,” and his Top 40 radio show.

Representatives for “American Idol” told Business Insider that the show doesn’t comment on negotiations.