Billy Bush Officially Off 'TODAY' Show After NBC Fires Off Shocking Letter

Billy Bush is officially done as a host of NBC's TODAY Show, RadarOnline.com has learned.

His attorney, Marshall Grossman, told RadarOnline.com exclusively, "We have reached a settlement that is mutually acceptable to both sides. The terms are confidential and I am not at liberty to discuss those terms. But both parties have agreed and are okay with the settlement."

Chief executive for TODAY, Noah Oppenheim, reportedly confirmed Bush's departure in an internal memo sent out this afternoon that read:

Dear Colleagues,

Billy Bush will be leaving the TODAY's show 9am hour, effective today.

While he was a new member of the TODAY team, he was a valued colleague and longtime member of the entire NBC family. We wish him success as he goes forward.

Bush released his own statement as well, which read: "I am deeply grateful for the conversations I've had with my daughters, and for all of the support from family, friends and colleagues. I look forward to what lies ahead."

As fans know, Bush, 44, was placed on suspension as a co-host of TODAY last week, following the release of an audio recording, in which Bush and Republican presidential candidate, Donald Trump, were heard making lewd remarks about women in 2005.

With his career with NBC in limbo last week, the former Access Hollywood anchor hired L.A.'s top mediator, attorney Marshall Grossman, to reach a settlement with NBC.

On Friday, RadarOnline.com reported that Bush was demanding a seven-figure settlement, which would be the equivalent of one year's pay, to walk away.

Story developing.

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