Conan O'Brien scores $32.5 mn
Conan O'Brien is losing The Tonight Show but he'll be getting a whopping $32.5 million consolation prize, courtesy NBC, sources told a website.entertainment Updated: Jan 19, 2010 17:54 IST
However, in return, Conan can't host another show until September. Reportedly, NBC is also paying severance to Conan's Tonight Show employees. In all, reports suggest NBC's payout is around $40 million.
According to the deal, any money Conan makes during the remaining contract period with NBC will offset the network's obligation. So, if Fox were to make a deal with Conan and pay him $25 m during the NBC contract period, Conan would only score $7.5 m.
However, a source told TMZ, that NBC may keep its intellectual property rights. So Conan can't take his creations - such as Triumph the Insult Comic Dog and the Masturbating Bear to his next gig. The deal still isn't completely done, but it's very close, reported the website.