It’s a done deal. Billy Bush has officially exited the Today show after reaching a settlement with NBC, Us Weekly can confirm. Noah Oppenheim, the executive in charge of the morning show, broke the news to staff in a memo on Monday, October 17. 

“Billy Bush will be leaving the Today show’s 9 a.m. hour, effective today,” the email read. ”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.”

“I am deeply grateful for the conversations I’ve had with my daughters, and for all of the support from family, friends and colleagues,” Bush told Us in a statement. “I look forward to what lies ahead.”

According to TMZ, Bush reached a settlement with the network for an undisclosed amount. 

As previously reported by Us, the TV personality signed a three-year deal with the network earlier this year for a reported $3.5 million a year. His lawyer, Marshall Grossman, previously denied rumors that the host had settled for $10 million. 

“There is no $10 million agreement and that amount has not been discussed,” the litigator told Us over the weekend on Saturday, October 15, after reports surfaced online. “Negotiations are ongoing between the parties.”

Bush was initially suspended by the network after audio of him participating in a lewd conversation with Donald Trump while riding on a Access Hollywood bus in 2005 was published online by The Washington Post. In the video, Bush can be heard laughing and engaging with the Republican presidential nominee while Trump bragged about flirting with a married women and grabbing them by their genitals.

Immediately after the tape was leaked, the TV host issued an apology. “Obviously I’m embarrassed and ashamed,” he told Us in a statement on October 7. “It’s no excuse, but this happened 11 years ago — I was younger, less mature and acted foolishly in playing along. I’m very sorry.”

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