NBC and Conan O’Brien have reached a $45 million exit deal. Under the deal, Conan will get more than $33M, while the rest of the money will go to his staff in severance (many of whom left with their families from NY to LA). Conan ends his run as the host of The Tonight Show on Friday, January 22nd.
After that, the show was already on a scheduled one-week hiatus and then the week following begins NBC’s coverage of the Olympics, so the show will run repeat episodes until February 11th and will return with new episodes on Monday March 1st with returning host Jay Leno.
O’Brien will be free to host a show on a competing network beginning on September 1, 2010. The deal also includes a no-disparage clause (so Conan can’t say anything bad about NBC and Leno, etc.), which runs through the 1st of September.