Michael Slezak
July 10, 2009 AT 06:00 PM EDT

Ryan Seacrest is reportedly on the brink of signing a new deal with American Idol co-producer 19 Entertainment that would extend his contract for three years and make him one of the highest paid reality hosts on television, according to a report in The Hollywood Reporter. The contract would also potentially see Seacrest launching new projects with Simon Fuller, Idol‘s executive producer. Seacrest reportedly made close to $5 million for emceeing the Idol‘s eighth season.

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