TV
Rex Features
The announcement follows tabloid reports claiming that the This Morning presenter had been refused a requested 10% pay rise.
ITV declined to comment on rumours that the new contract continues an annual salary of £700,000.
Dianne Nelmes, head of daytime and lifestyle at ITV Productions, said: "Fern and Phillip Schofield are simply the stars of daytime and I am delighted they will be presenting the show together for a long time to come."
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