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Matt Lauer announced this morning that he will remain on TODAY after signing a new long-term contract with NBC News.

The TODAY co-anchors and crew broke out in applause when he said, “This is my family.”

Lauer has been a co-anchor in Studio 1A since January 6, 1997, after three years of serving as the news reader.

Rumors have suggested that NBC had their eye on Ryan Seacrest as a potential replacement for the anchor spot if they weren’t able to hammer out a new deal with Lauer.

Earlier this week Seacrest appeared as a guest on TODAY to announce that he has joined the NBC family and will make his debut during the network’s London Olympic coverage.

Matt joked, “Are you taking my job?” See that video exchange here.

Check out Lauer’s announcement below:


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Photo: NBC Video Screen Grab