NEW This Morning host Cat Deeley has sacrificed a bumper pay day in the USA to front the ITV daytime show.
The Brummie broadcaster, 47, has given up her gig as host of So You Think You Can Dance? to team up with Ben Shephard, 49, as permanent replacements for Holly Willoughby and Phillip Schofield.
As a result she's waving goodbye to the £43k per episode pay cheque.
But Cat won't be going empty-handed as we revealed she'll take home an annual salary on This Morning of £555,000, a substantial sum more than the £344k she gets per season of So You Think You Can Dance?
However the amount if £150,000 less than Holly and Phil.
ITV officially unveiled Cat and Ben in their new roles today.
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Alison Hammond and Dermot O'Leary, who host the show on Fridays, gave the pair a warm welcome on the programme.
A photo of Cat and Ben appeared on the screen and Alison and Dermot explained they will host Mondays to Thursdays from March onwards.
Ben also featured in a teaser trailer which saw him hanging his portrait on the wall backstage at the ITV studios.
He turned to the camera and said: "See you soon!" before the portrait of Cat flashed a wink.
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Sharing the news with viewers, Alison said: "We’re so, so happy! The news is finally out, it’s finally out."
And Dermot added: "Welcome to the family!
"You know the lovely thing, we know them well and obviously I started out my career with Ben at T4."
Alison continued to gush over their new studio partners, saying: "Cat is just the dream, I met her in LA, it was the first time.
"We’re both Brummies… It was about four years ago, we met in LA… We went to a party and it was the first time these two Brummies collided, we’ve never separated."
Good Morning Britain star Ben, who hosted with TV veteran Cat on the sofa for one day in December, confirmed that he had signed up permanently in a statement released on Friday.
He said: "This really feels like a very special moment for Cat and I to be part of the next chapter of This Morning.
Whenever it’s on, it’s like having your friends over - funny, smart, silly, heartfelt, informative and joyful - like all the greatest friendships!
Cat Deeley
"It’s an honour to be trusted with the reins, join Alison and Dermot and all the team that work on and off screen and do such a great job.
"For the last ten years I’ve been waking up with our ITV daytime audience on GMB and I now look forward to spending time with Cat, welcoming the viewers home after the school run or from their early morning routines, with a cup of tea and a mix of everything that makes This Morning so loved."
Cat, 47, added: "This Morning is a national institution.
"Whenever it’s on, it’s like having your friends over - funny, smart, silly, heartfelt, informative and joyful - like all the greatest friendships!
"This Morning is and always will be the viewer’s show.
"Ben and I both know how much people love it, and with the help of an amazing team of people, we’re going to do our best to take care of it."
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It comes after weeks of wrangling over contracts and speculation over Cat was being forced to quit her presenting role in the US.
She has hosted So You Think You Can Dance? since 2006.
The duo take over from Phillip who quit in May last year after admitting to an affair with a younger colleague following weeks of on-air tension with one-time best mate Holly and subsequently quit his roles at ITV.
Five months later Holly — his Dancing On Ice co-star — also left after a plot to kidnap her came to light.
Cat shot to fame in 1998 when she hosted the children's programme SMTV Live, along with Ant and Dec.
She went to host Fame Academy on the BBC, and the 2004 Brit Awards.
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Cat then became the presenter of Stars In Their Eyes from 2003 to 2006, taking over from Matthew Kelly.
This Morning airs weekdays from 10am on ITV1 & ITVX