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Chris Matthews won't be making a run for US Senate after all, even if Arlen Specter (R-PA) retires. MSNBC just renewed the Hardball host's contract for at least four years. Matthews' salary is reportedly in the $5 million range.

The host insists the run wasn't a negotiating ploy, but seems excited about staying on: "That microphone is more potent than any legislative position,” he told the Times.

Executives involved in the deal sounded less enthusiastic, telling the paper, “Whether he took a slight cut or got a slight raise, it’s nobody’s business.”

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