Brian Williams Reportedly Done as 'NBC Nightly News' Anchor, But Will Remain at NBCUniversal

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It appears that Williams won't be returning to the anchor desk, but it looks like he will be staying at the company.

Brian Williams will not be returning to the NBC Nightly News anchor desk, but it looks like he won't be leaving the NBCUniversal family for good.

According to multiple reports, an agreement has been reached between NBC and the long-time newsman that will keep him employed within NBCUniversal. However, he won't be returning as news anchor or managing editor of the Nightly News after his six-month suspension comes to an end in August.

WATCH: Brian Williams Under Heavy Scrutiny After Apologizing for False Story

Current Nightly News anchor Lester Holt is expected to stay on sources told The Hollywood Reporter.

No concrete details have been released pertaining to the new role Williams will fill when he returns. The New York Times has reported that there is speculation Williams might be moved to the cable news network MSNBC, possibly in a position covering breaking news stories.

Williams started out at NBC in 1993, filling various roles early on, including weekend anchor on the NBC Nightly News from 1993-99. From 1996 to 2004, he led a MSNBC show, The News With Brian Williams, before getting promoted to anchor and managing editor of Nightly News. He also led the weekly primetime newsmagazine, Rock Center With Brian Williams, from 2011-13 for NBC.

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CNN Money has reported that the network will likely address the decision on Thursday, where it may announce the specific role Williams will play within the company.

In February, Williams was suspended without pay from NBC Nightly News for six months after an investigation uncovered that he had exaggerated and embellished his account of being in a helicopter in Iraq that was brought down by enemy fire in 2003.

NEWS: Internal Investigation Into Brian Williams Finds At Least 11 More Reporting 'Embellishments'

The investigation uncovered several other instances in which it is believed Williams fabricated details while reporting from the field. However, these instances – discovered during an internal investigation – have not been publicly released or detailed.

For more on the scandal that brought down one of America's most popular news anchors, check out the video below.