Tonight Show Host Parts Ways With NBC (GE, NWS)

According to the New York Times, Conan O’ Brien, host of the popular ‘Tonight Show’ has decided to part ways with NBC. Sources report that the terms of the agreement will call for NBC, which is owned by General Electric (NYSE: GE), to pay Mr. O’Brien $32 million and will require O’Brien not to join a rival network for eight months. It is widely expected that this Friday will be his last show and will include special guests like Tom Hanks, Will Ferrell and Neil Young.

Trouble between the host and NBC was first sighted earlier this month when NBC officials took the decision to replace O’Brien’s show with Jay Leno’s show. O’ Brien’s show was instead given the 12:05 AM slot – a move that O’Brien saw as a demotion and forced him to seek a departure from the network. Industry sources speculate that rival News Corp (NYSE: NWS) run Fox Network could be interested in a show with O’Brien, however the timing of the show remains a matter of speculation.