UPDATE: Brian Williams is headed to MSNBC in August, and no longer anchoring NBC Nightly News -- as Lester Holt will take his spot -- the network confirmed Thursday. The veteran newsman Williams will serve as anchor for MSNBC's breaking news updates and special reports, and act as Holt's backup for breaking news on NBC Nightly News. The network said that an internal investigation of Williams uncovered a number of untruths -- not so much on the news itself -- "but rather on late-night programs and during public appearances, usually years after the news events in question." The network hailed his successor, Holt as "an exceptional anchor who goes straight to the heart of every story," and Holt said it was "an enormous honor" to get promoted to the coveted position.
Brian Williams will not return to NBC Nightly News in the wake of his scandal, but will remain at the network, NBC is expected to announce Thursday.
"There is an agreement: Brian won't return to the anchor chair but has agreed to a different, news-oriented role," an insider told the NY Post.
"I feel terrible about making this mistake," he said, addressing the scandal on a Feb. 4 broadcast.
The network had spent the last four months investigating other possible exaggerations Williams had made in other reports.
The new arrangement was handled via a series of "complicated and difficult" negotiations between Williams' agent Bob Barnett, NBCUniversal CEO Steve Burke and NBC News chairman Andy Lack, the NY Post reported.
Williams -- who inked a 5-year, $50 million deal with the network last autumn -- new job will give him the "room to grow and to rebuild his reputation," the source told the paper, noting that it's expected to be a "very different" consolation prize than the obscure position the network gave Ann Curry after her departure from TODAY.