Several media outlets are now reporting that Brian Williams has been fired from the NBC Nightly News.
The decision, which will be announced later today, makes interim anchor Lester Holt the first permanent solo anchor of a weekday network newscast.
The announcement, of course, comes on the heels of Williams' six-month suspension for lying on-air about his experiences during the Iraq War.
Sources say the longtime anchor will be offered a different position at NBCUniversal, most likely as the host of a Rachel Maddow-style nightly series on MSNBC.
It's a major demotion for a man who was once the face of one of the nation's most-watched and most respected news broadcasts.
The decision to exile Williams to the relative ratings wasteland of late night basic cable was made jointly by NBCUniversal CEO Steve Burke and Andy Lack, president of NBC News and MSNBC.
"His actions are inexcusable and this suspension is severe and appropriate," Burke said while announcing Williams' suspension back in February.
"He deserves a second chance and we are rooting for him. Brian has shared his deep remorse with me, and he is committed to winning back everyone's trust."
Insiders say Burke made his ultimate decision the same day that Williams was caught lying about his war stories, but chose to start with a six-month suspension in hopes that the story would die down, and the eventual firing wouldn't make as many headlines.