NAB President/CEO Eddie Fritts and the association's board members have reportedly agreed on a two-year contract extension that would keep Fritts at the helm until at least September 2005 and a consulting deal with the association through 2008.

NAB Joint Board Chairman Phil Lombardo was said to have crafted the deal. Lombardo has been rumored to have tried to persuade Fritts to step down early. Lombardo denied the rumors.

Observers expect NAB to announce the agreement next week at the board meetings in Washington.

(from Radio World)