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3 October 2019, 12:45
The duo will be adding an extra half hour onto the show to replace what was once the Jeremy Kyle Show's slot.
Holly Willoughby and Phillip Schofield are set to rake in an extra £150,000 each in 2020 for working an extra half hour every day on This Morning.
Following the dramatic axing of The Jeremy Kyle Show, there's been some gaps left in the ITV daytime TV schedule, and bosses want to revamp it.
The controversial show was removed from ITV after the tragic death of Steve Dymond, a guest on the show who had failed a lie detector test.
They're planning on adding an extra half hour to This Morning, taking it from two hours to two and a half and filing in the schedule's gaps rather than finding a complete show to replace the Jeremy Kyle Show with.
According to the Daily Mirror, an insider has revealed that a whopping £300,000 has been allocated to the This Morning budget in order to fund Holly, 38, and Phil, 57 for their added thirty minutes.
They're currently being paid £600,000 a year each for their amazing roles on This Morning, with Holly's salary only recently being brought up to match Phillip's in 2017, despite them presenting together since 2009.
The new schedule shake-up will see the duo kick things off in the studio from 10am rather than 10:30am as they are now.
Lorraine will also shift by half an our to start at 9am, and Good Morning Britain will start later, at 6:30am.
Phil and Holly's pay rise follows the news that ITV more than doubled his salary from £803k to £1.73 million for all of his work for the channel, and a big reason for the boost is down to his Dancing on Ice work.
He also presents 5 Gold Rings on the channel, but the 57-year-old's amazing salary is just his ITV one, it doesn't take into account the money he makes from other work, including brand deals with Waitrose and voiceover work with We Buy Any Car.
While Phillip's salary is definitely impressive, Holly - who is 19 years his junior is not said to be too far behind the silver fox.
With a £600,000 This Morning salary matching Phil's she was also paid a huge sum for co-hosting I'm A Celebrity with Dec Donnelly to fill in for Ant McPartlin, as well as her Dancing on Ice and Celebrity Juice work.
According to the publication, Holly also paid herself a whopping £1.7 million from hers and husband Dan Baldwin's company last year.
This is a huge increase from the £950,000 she paid herself the previous year and owns 80 per cent of the company.
Holly is also an ambassador for M&S and has brought out multiple clothing ranges with the brand.