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NBC Universal and Conan O’Brien finally reached a deal that will allow the talk show host to depart “The Tonight Show.” But, as has been widely reported, the late night comic will relinquish the intellectual property rights to several characters created during his 17 years at the network.

The agreement calls for O’Brien to receive roughly $32.5 million in severance for the remaining two-and-a-half years on his guaranteed contract, with an additional $12 million going to settle the contracts of his staff, including $4.5 million to longtime executive producer Jeff Ross.

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