By Joe Flint and Isabella Simonetti

Many TV anchors are taking pay cuts these days. ESPN's Stephen A. Smith is getting a raise.

Smith, a featured commentator and executive producer of the sports network's morning sports talk show "First Take," signed a new five-year deal with the network, the company said Friday. It is worth more than $100 million, according to a person familiar with the agreement, a sharp jump from his current $12 million-a-year deal.

Smith hasn't been shy about advocating for a substantial payday. "First Take" is among ESPN's highest-rated studio shows, and Smith has built a significant audience on social media thanks to a seemingly never-ending stream of hot takes on everything from the NBA to Donald Trump.

"I'm fully aware of what I'm worth and I will never apologize to that for anybody," Smith told Chris Wallace on CNN last year.

Smith's pay increase comes as big media outlets, including NBC and CBS, are trimming costs for talent and behind-the-scenes producers.

Earlier this week, ESPN parent Disney cut nearly 6% of staff across its ABC News Group and Disney Entertainment Networks operations. ESPN itself has parted ways with on-air talent in recent years, including basketball anchor Jeff Van Gundy, analyst Jalen Rose and reporter Suzy Kolber.

Still, ESPN has invested heavily in personalities who reliably drive eyeballs and headlines. In 2023, the network signed a five-year deal valued at more than $85 million to license the show of YouTube star Pat McAfee.

News of Smith's new deal was previously reported by the Athletic.

While fewer people are tuning into cable TV these days, sports continue to draw a consistently large audience -- as do shows about sports. So far this year, "First Take" averages just over 500,000 viewers per episode, according to Nielsen. That makes it the most popular non-news program on cable in that hour.

"Fans are captivated by his deep sports knowledge, strong opinions and unmistakable flair," said ESPN Chairman Jimmy Pitaro. "Stephen A. works incredibly hard to elevate the sports conversation day-in and day-out and we are grateful he will remain at ESPN."

Deal negotiations went on for months, and were led by Pitaro and Smith's team at Endeavor and Envisionary. Last week, Smith accompanied Pitaro to a gathering of ABC advertising executives and partners, which Disney executives saw as a sign the deal was close to being finalized, a person familiar with the event said.

With his hot takes on political and cultural issues and bold social-media persona, Smith stands apart in his ability to draw audiences far beyond sports fans. "The Stephen A. Smith Show" podcast has more than 1.1 million subscribers on YouTube, with people tuning in for his barbs -- and then for the backlash to those barbs. He recently appeared on Bill Maher's HBO show "Real Time," and has been a guest on Sean Hannity's Fox News program.

"He's polarizing, but people will still tune in," said B.J. Schecter, a veteran sports journalist and executive director of the Center for Sports Media at Seton Hall University. "He knows exactly where that line is, and I think for the most part, he goes right up to that line without getting himself in too much hot water."

Smith has considered a career beyond sports media as well.

"I have no desire to be a congressional figure or a senator," Smith said on a November episode of ABC's "The View." "But if you came to me and you told me I had a legitimate shot to win the presidency of the United States of America, I would definitely consider it."

Write to Joe Flint at Joe.Flint@wsj.com and Isabella Simonetti at isabella.simonetti@wsj.com

(END) Dow Jones Newswires

March 07, 2025 10:17 ET (15:17 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.