Multiple reports this week from "inside sources" suggest that Brian Williams has lost his anchor chair at NBC News for good, with his fill-in anchor Lester Holt likely his permanent replacement.

The humiliating fall from grace for Williams due to his repeated "embellishments" of personal accounts has been a truly bizarre spectacle -- and NBC's handling of it instructive about the internal politics of the big news networks.

What began with the exposure of outright lies about an incident in a helicopter in Iraq in 2003 turned into a series of revelations of similar "exaggerations" and even complete fabrications, including his dubious accounts of what he experienced in 2005 in the Katrina aftermath, questionable claims about his interactions with Seal Team 6, and a Berlin Wall fib.

NBC's internal investigation found that Williams had "embellished" details of his reporting 11 times. On Feb 10, after less than two weeks after the first accusations about his Iraq RPG story, Williams was informed that he was suspended indefinitely.

Now, he appears to be out of the anchor chair permanently, with multiple inside sources telling reporters that NBC intends to make Lester Holt a permanent fixture and find creative ways to use Williams in "alternative" roles. NY Post's Page Six reports:

Sources tell Page Six that Williams will likely lose his anchor chair following the lengthy internal investigation into his alleged tall tales.

But NBC brass — led by NBCUniversal CEO and president Steve Burke and NBC News chairman Andy Lack — have been looking for a way to keep him at the network in a different, yet-to-be-agreed-upon role. One source told us, “Brian’s six-month suspension is over in early August, and NBC chiefs are under pressure to come up with a solution. The talks are complicated and are ongoing, and there has not yet been a deal. But it is likely he won’t be back in the ‘Nightly’ anchor chair. A decision could be made as early as this week, if all sides can reach an agreement.”

Industry insiders said NBC News staff, led by Lack, have been encouraged to think of alternative roles for Williams.

That's, of course, if Williams and his "hard-charging" attorney are willing to play nice, the Post noting that source indicated that Williams "would not go down without a fight" and would demand a large portion of his salary.

Here's a timeline of the events leading to Williams' suspension (via NY Daily News):

Fri. Jan. 30 - Brian Williams relates his frequently embellished 2003 tale of being in a military chopper over Iraq that was hit with an RPG on "Nightly News."

Sat. Jan. 31 - Veteran Lance Reynolds calls out Williams on Facebook, noting: "Sorry dude, I don't remember you being on my aircraft."

Wed. Feb. 4 - Williams apologizes on "Nightly News" for "bungling" a tribute to a veteran who protected him in Iraq.

Thurs. Feb 5 - Williams and NBC News president Deborah Turness address "Nightly News" staffers about the lie.

Fri. Feb. 6 - NBC brass informs staff of an internal investigation headed by Richard Esposito, the head of NBC's investigative unit.

Sat. Feb. 7. - NBC News chairman, Pat Fili-Krushel, Turness and other top execs meet with Williams at his home and urge him to take time off. He complies.

Sun. Feb. 8 - NBC News brass meet at NBCUniversal CEO Steve Burke's home and argue about his fate.

Mon. Feb. 9 - Esposito meets with Williams and shows the anchor a dossier full of more, potentially damaging, tall tales the anchor has told.

Tues. Feb. 10 - Williams is summoned to Burkes Manhattan apartment where Williams learns he will be suspended. Turness and Burke later release a memo to staffers.

Wed. Feb. 11 - Williams' name is taken off "Nightly News" for the first time since 2004.