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It may sound like a lot of money, but TMZ notes that it might be a slight reduction in pay for Couric. When she was the news anchor at CBS, she was pulling in $15 million annually, and at ABC she had a deal worth $40 million over three years.
At Yahoo, her role is still somewhat unclear.
CEO Marissa Mayer announced the hire at the end of November, saying, "Today, I am incredibly excited to announce that Katie Couric is joining Yahoo as our Global Anchor. Starting in early 2014, Katie will lead a growing team of correspondents at Yahoo News who will cover the world's most interesting stories and newsmakers."
She currently has an ABC talk show, but that should be winding down shortly so she can focus entirely on Yahoo.