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Source: NBC-Conan O'Brien Deal Imminent

A deal between Conan O'Brien and NBC is imminent, according to network sources. With both sides working through the weekend to hammer out an exit deal for the Tonight Show host, NBC will have a deal to announce Jan. 19 (Tuesday).

It is likely to give O'Brien a pay-out in the range of $30-40 million as well severance packages for his staff, many of whom relocated to Los Angeles from New York.

The deal is also expected to release O'Brien from the lengthy non-compete clause in his original contract that could have kept him from appearing on a rival network for two years.

A settlement would bring to a close a week of rancorous negotiations and public sniping that began when O'Brien rejected NBC's offer to move The Tonight Show to 12:05 a.m. after a half hour Jay Leno Show.

The final 10 p.m. Jay Leno Show is scheduled for Feb. 11, the night before the opening ceremonies of the Vancouver Wither Olympics. O'Brien is expected to end his seven-months on Tonight this Friday (Jan. 22).