Hamish and Andy have confirmed industry rumours, signing a television deal with Nine (Image: News Limited)

Comedy duo Hamish Blake and Andy Lee have today confirmed industry rumours, signing a lucrative two-year television deal with the Nine Network.

The pair made the announcement during their weekly radio programme on the Today Network this afternoon.

"Obviously there's been plenty of speculation already about what Hamish and I and our crew are up to," Lee said.

"The good news is, that Channel Nine have agreed to screen our adventures this year, which we're very very excited about.

"We're also pumped they have the Olympics next year, it's a big drawcard for us."

"It is exciting. They say 'yes' now, but we don't really know what the show is," Blake said.

"At the end of the day, we will figure out a television show. We will not take this responsibility lightly. We don't know what the show is yet, but we certainly won't take it for granted and we'll try to produce something that is worthy of your valuable eyes."

The pair's Melbourne-based production company Radio Karate, which is also headed by Tim Bartley and Ryan Shelton, will develop the show for Nine.

"The same team that brought you Caravan of Courage, Learn India and Reministmas," Lee added.

Despite numerous predictions, the pair said reports on the agreement's financial value were incorrect.

"Unfortunately for us the figures reported in the paper were way off, but the fact Channel Nine has agreed to foot the bill for our next adventure is great.

"They said we're getting $17 million, which is way off."

Nine’s director of television, Michael Healy, said, "We’re really excited about the boys joining Channel Nine. They’re great guys and a great fit with Nine’s plans for 2011."

The popular twosome announced they would quit their weekday afternoon radio programme on the Today Network for a single Friday show back in August last year, seeking to pursue new television opportunities in 2011.

Their contract with the Ten Network expired in December last year, prompting intense bidding and negotiations.

Media Spy discussion: Hamish and Andy sign with Nine