The fate of NBC News anchor Brian Williams has finally been revealed.

Williams will no longer be at NBC, and will instead move to its cable network MSNBC, where he is expected to cover breaking news, according to the Hollywood Reporter. NBC News Chairman Andy Lack and NBCUniversal CEO Steve Burk made the official announcement on Thursday.

Lester Holt, who has been filling in for Williams since he left in early February and was previously the NBC weekend evening news anchor, will permanently take his place on "NBC Nightly News," The New York Times reported. This move will make Holt the first solo African American anchor of a nightly broadcast network evening newscast. 

When MSNBC launched in 1994, Williams was the principle Anchor for the network before leaving for NBC. MSNBC has experienced double-digit percentage rating declines this year, and Williams would bring some star and name power that the network needs. Andrew Lack, head of NBC News, is expected to focus a lot of his attention on fixing the cable network. He plans on doing this by introducing more hard news and reporting from NBC News talent during the daytime hours.

Williams was suspended by NBC for six months on Feb. 10 without pay for embellishing his news stories and making false statements.