Members of Team Coco have been defeated. In spite of the many rallies and petitions that have taken place, NBC has decided to give Conan O’Brien the axe. The red -haired host has been let go from his duties on “The Tonight Show” after less than a year on the job. The estimates for his exit deal have been anywhere between 30 and 40 million dollars, and we’ve discovered that it’s a little bit more than that.

A spokesperson from NBC stated, “We can confirm a deal has been signed and an announcement will be made later today.” The deal in question is said to be for a lump sum of $32 million dollars for O’Brien, and 12 million for the production crew who uprooted and moved to the west coast because of the show, making it a total of 44 million being dished out.

O’Brien will be allowed to return to television on September 1st (with any other network), after only hosting “The Tonight Show” for a mere 7 months after Jay Leno‘s departure. His last day will be this Friday, which has been the speculated date for the past few weeks. Some insiders had a hunch that the end was near when they realized that no guests were booked after January 22nd.

“The Tonight Show” will run repeats until February 11th, when it’s pre-empted for the Winter Olympics. And Jay Leno will return to the program on Monday, March 1st. Who’s going to watch the show when Jay returns?

What do you think about Conan’s settlement with NBC?

Source: Reuters, THR