Conan O’Brien Inks Exit Deal From NBC

Late night show host Conan O’Brien has signed a deal with NBC early Thursday, January 21, the Wall Street Journal reports.OBrien-Conan

NBC will probably announce the agreement Thursday morning.

The agreement involves a 32 million dollar payout for the host and 12 million dollars for the staff. It includes a non-disparagement clause for both O’Brien and NBC. It also bars him to appear on other shows or host his own program for a period of time.

Jay Leno will go back hosting The Tonight Show when Conan leaves.

O’Brien took the show last July after it was promised to him five years ago that he will replace Leno. Leno then moved to a new show, The Jay Leno Show, in primetime after hosting the program for 17 years.

However, poor ratings have prompted the network to bring back the veteran to his previous time slot at 11:35 PM and put The Tonight Show at 12:05 AM.

O’Brien refused, hence the parting of ways.