NBC and Conan O'Brien Reach $45 Million Exit Deal

NBC has reached a $45 million agreement with Conan O'Brien to end his short run as host of "The Tonight Show" so that Jay Leno can return as the face of the late-night comedy show.

Of the total amount, about $33 million will go to O'Brien and $12 million will go to his staff.

Under the deal, he will be allowed to return to television in September. ABC has said they are not interested in Conan while Fox may be a possibility depending on whether local affiliates would clear such a deal.

O'Brien's last episode of "The Tonight Show" will be on Friday. "The Tonight Show" will then run repeats until February 11th, when it's pre-empted for the Winter Olympics. Leno will return to the program on Monday, March 1st.

Here is the official statement by 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.
Via Comingsoon

Conan NOT moving to 12:05

Conan O'Brien released the following statement today saying that he will not do "The Tonight Show" if it airs at 12:05am after NBC's suggested half-hour Jay Leno show starting at 11:35am:

People of Earth:

In the last few days, I’ve been getting a lot of sympathy calls, and I want to start by making it clear that no one should waste a second feeling sorry for me. For 17 years, I’ve been getting paid to do what I love most and, in a world with real problems, I’ve been absurdly lucky. That said, I’ve been suddenly put in a very public predicament and my bosses are demanding an immediate decision.

Six years ago, I signed a contract with NBC to take over The Tonight Show in June of 2009. Like a lot of us, I grew up watching Johnny Carson every night and the chance to one day sit in that chair has meant everything to me. I worked long and hard to get that opportunity, passed up far more lucrative offers, and since 2004 I have spent literally hundreds of hours thinking of ways to extend the franchise long into the future. It was my mistaken belief that, like my predecessor, I would have the benefit of some time and, just as important, some degree of ratings support from the prime-time schedule. Building a lasting audience at 11:30 is impossible without both.

But sadly, we were never given that chance. After only seven months, with my Tonight Show in its infancy, NBC has decided to react to their terrible difficulties in prime-time by making a change in their long-established late night schedule.

Last Thursday, NBC executives told me they intended to move the Tonight Show to 12:05 to accommodate the Jay Leno Show at 11:35. For 60 years the Tonight Show has aired immediately following the late local news. I sincerely believe that delaying the Tonight Show into the next day to accommodate another comedy program will seriously damage what I consider to be the greatest franchise in the history of broadcasting. The Tonight Show at 12:05 simply isn’t the Tonight Show. Also, if I accept this move I will be knocking the Late Night show, which I inherited from David Letterman and passed on to Jimmy Fallon, out of its long-held time slot. That would hurt the other NBC franchise that I love, and it would be unfair to Jimmy.

So it has come to this: I cannot express in words how much I enjoy hosting this program and what an enormous personal disappointment it is for me to consider losing it. My staff and I have worked unbelievably hard and we are very proud of our contribution to the legacy of The Tonight Show. But I cannot participate in what I honestly believe is its destruction. Some people will make the argument that with DVRs and the Internet a time slot doesn’t matter. But with the Tonight Show, I believe nothing could matter more.

There has been speculation about my going to another network but, to set the record straight, I currently have no other offer and honestly have no idea what happens next. My hope is that NBC and I can resolve this quickly so that my staff, crew, and I can do a show we can be proud of, for a company that values our work.

Have a great day and, for the record, I am truly sorry about my hair; it’s always been that way.

Yours,

Conan