January 21, 2010 at 12:34 PM EST

It’s official: Conan O’Brien is leaving NBC. The network confirms that the host signed his exit papers and will end his seven-month run on The Tonight Show Friday with guests Tom Hanks and Will Ferrell. “In the end, Conan was appreciative of the steps NBC made to take care of his staff and crew, and decided to supplement the severance they were getting out of his own pocket,” Gavin Polone, O’Brien’s manager told TheWrap. “Now he just wants to get back on the air as quickly as possible.” For more on the situation, head to our Hollywood Insider blog.


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