Roger Ailes, the chairman of the Fox News Channel, calls Shepard Smith his "go-to guy," the person he wants leading the channel's coverage any time news breaks.
Mr. Ailes has put his network's money where he wants its chief voice to be. Last week, Mr. Smith signed a new contract that will take him, a former local news reporter from Holly Springs, Miss., into financial territory usually occupied only by network news anchors. Although Fox did not release the exact terms of the new deal, an executive briefed on the them said that Mr. Smith, who is 43, had signed a new contract for a little more than three years at a salary of $7 million to $8 million a year.
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