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Most network shows have actors under that 7-year contract, where the 8th year is when actors can negotiate much higher contracts, which is how actors negotiate and get the $1 million per episode for shows like Friends and Frasier. That's why most shows tend to stop at 7 seasons, because the networks don't want to pay the astronomical amounts unless the show is a ratings winner. The highest figure I ever read about was the $1.4 million per episode that Kelsey Grammer got in the final season of Frasier.
A spinoff is possible, but usually the lead actors can negotiate at least a 6-figure per episode salary. Will the CW pony up the money for it? Last show I read about lead actors getting $100k per episode were the Nip/Tuck guys for this season. Despite being on FX, Nip/Tuck seems to get the 2nd highest ratings in the 18-49 demographic on Tuesdays, thus making the actors worth the salary bump.
I don't think Smallville brings in stellar ratings the 18-49 demo.
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DVD Aficionado collection.
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