The Saga is almost over folks.
Early reports indicate that NBC will pay Conan O’Brien $30 Million to leave The Tonight Show, making way for Jay Leno’s return.
It was announced this week that Jay Leno would be taking reigns.
Conan is now free to go at any work. Of course, this is early reports. NBC has or Team Conan has yet to make an official statement, although one is expected to come shortly.
The Tonight Show with Jay Leno is set to re-debut after the Olympics.
UPDATE 1/21
From an NBC spokeswoman:
“NBC confirms a deal is signed and an official announcement will be made this morning.”
CNN reports the deal includes a $32 mil settlement for Conan, and another $12 mil for his staff.
Highlights of the new deal include:
- O’Brien will be sidelined until September 1st, 2010. After that, he will be able to work for any other network.
- NBC will retain the rights to characters Conan created (Conando, The Masturbating Bear, and more.)
- $32 Mil will go to Conan, $12 million will go to his staff via severance package.
- Final show will be on Friday January 22th, 2010.
STATEMENT FROM NBC AND CONAN O’BRIEN:
NBC and Conan O’Brien have reached a resolution of the issues surrounding O’Brien’s contract to host “The Tonight Show with Conan O’Brien.”
Under terms of an agreement that was signed earlier today, NBC and O’Brien will settle their contractual obligations and the network will release O’Brien from his contract, freeing him to pursue other opportunities after September 1, 2010.
O’Brien will make his final appearance as host of “The Tonight Show” on January 22.
