Billy Bush has officially parted ways with NBC, with The Hollywood Reporter confirming that a settlement has been reached following the recently hired “Today” co-anchor’s ouster after the revelation of his cackling “locker-room” banter in the infamous 2005 tape that’s rocking the Donald Trump presidential campaign.
“Billy Bush will be leaving the ‘Today’ show’s 9 a.m. hour, effective today,” reads a memo from “Today” senior vice-president Noah Oppenheim, obtained by The Hollywood Reporter. “While he was a new member of the ‘Today’ team, he was a valued colleague and longtime member of the broader NBC family. We wish him success as he goes forward.”
Following the release of the blockbuster tape, Bush was immediately suspended from “Today,” and he then hired top-tier entertainment lawyer Marshall Grossman to represent him in his exit negotiations.
Last Friday, Grossman told THR that he and NBC reps were closing in on reaching a deal. “The parties are negotiating a resolution of their differences at their highest level, and I am personally optimistic that the matter will be resolved upon terms satisfactory to both parties,” Grossman told THR, which reports that “Bush is said to make about $3 million a year under his ‘Today’ deal.”
A report in The New York Post claimed that Bush would be receiving a $10-million payout to leave the network, but Grossman told THR that figure was not accurate.
“There’s no $10 million settlement and that number has not even been discussed,” said Grossman.
“I am deeply grateful for the conversations I’ve had with my daughters, and for all of the support from family, friends and colleagues,” said Bush in a statement following the settlement being reached. “I look forward to what lies ahead.”