He's Back! - Conan O'Brien Announces Surprise Deal with TBS

After a much publicized split from NBC Universal, Conan O'Brien has agreed to make Time Warner Inc.'s (NYSE: TWX) TBS network his new late night home on a talk show that is scheduled to begin in November.

The new program will air Mondays through Thursdays at 11 p.m. on the comedy-oriented cable network, which will push the start of the "Lopez Tonight," starring George Lopez back an hour.

"The good news: I will be doing a show on TBS staring in November!," O’Brien announced via Twitter on Monday.

Reports had O'Brien in talks with FOX to take his recognizable name to back to late night, while few had expected TBS to be his eventual landing spot. TBS stated that the talks between the two became serious last week.

O'Brien left NBC in January after just eight months as the host of "The Tonight Show." However, once his ratings dropped, the hosting duties were returned to former lead man, Jay Leno and O'Brien refused to move to a post-midnight slot and left the network's employment with a $32 million settlement package.

The settlement deal with NBC prohibited O’Brien from appearing on TV anywhere else until September. He is taking the time off to perform a two-month long comedy tour which started Monday.

"In three months, I've gone from network television to Twitter to performing live in theaters, and now I'm headed to basic cable," O'Brien said jokingly in a statement. "My plan is working perfectly."

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