NBC and its “Nightly News” anchor Brian Williams have signed a new deal extending Williams’ role with the network for as much as five years, Variety reports. Financial terms were not disclosed.

Williams recently marked 10 years as anchor and managing editor of “NBC Nightly News.” Some media reports put the value of the new deal as high as $10 million per year.

Said NBC News President Deborah Turness: “Brian is one of the most trusted journalists of our time. He has led this organization through every major news event for the last decade, from Hurricane Katrina in his first year in the anchor chair to his exclusive interview with Edward Snowden this year, through elections, wars, natural disasters, tragedies and triumphs. In all of those cases he’s taken ‘Nightly News’ viewers to the heart of the stories that matter most in a way that’s uniquely his.”

ABC has been gaining ground in the ratings since Diane Sawyer handed of the “World News Tonight” anchor chair to David Muir back in September, the report notes. Williams succeeded Tom Brokaw in the NBC anchor chair in 2004.

“Williams’ renewal at NBC News was no surprise, even though his name has been mentioned for a range of possible other gigs ranging from the host slot on ‘Jeopardy’ to late-night talkers,” Variety notes. “He’s a frequent guest on ‘The Tonight Show Starring Jimmy Fallon,’ where he demonstrates his sense of humor with the ‘Slow Jamming the News’ segment and other bits.”