Brian Williams, the suspended, fabulist news anchor for NBC "Nightly News" has reached a deal with network to stick around...just not at the news desk.

CNN reports the agreement "will keep Williams at the network after his six-month suspension ends in August," a move that had been speculated about in recent weeks as the anchor's suspension enters the final stretch. Lester Holt, who was replacing Williams on an interim basis will become the permanent "Nightly News" anchor.

Also under negotiation with the network was "where, when and how Williams will express regret for the storytelling exaggerations that led to his February suspension," CNN reports.

It was revealed earlier this year that Williams had "embellished" reports about his military helicopter coming under fire while he was reporting from Iraq. Questions began to surface about the integrity of other stories Williams reported.

What role exactly will the discredited Williams have at NBC News?

CNN Money is reporting that Williams will work at MSNBC: "His portfolio will include a position on MSNBC, NBC's struggling cable news channel. "He will be the face of MSNBC," handling big breaking news stories, one of the people said on condition of anonymity.

An announcement about Williams' future is expected to come today.