It’s official: Comedian Conan O’Brien has inked a nearly $45 million deal to part ways with NBC after 16 years of service to the network.
After days of negoitations with Jay Leno and O’Brien, the network has announced an agreement that will allow Leno to return as host of The Tonight Show, while paying O’Brien to leave. Tom Hanks and Barry Manilow will be among the final guests when Conan signs off as host of the 60 year old TV institution this Friday, Jan. 22.
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According to The Associated Press, the deal includes a figure exceeding $33 million settlement for Conan. The $12 million remaining dollars of the $45 million settlement will be reserved for his staff. The terms allow Coco to pick up a gig at another network for the fall television season.
Leno is expected to return to his post as host of The Tonight Show on March 1.