A new development in the Brian Williams saga emerged concerning the fate of the disgraced "NBC Nightly News" anchor Brian Williams.

According to the LA Times, Williams will be shuffling his feet away from the flagship NBC News company and heading over to their sister channel on cable, MSNBC. The information came to the LA Times on Wednesday from a source who is close to and familiar with the situation.

Williams, who lost credibility and began a downward spiral when he misrepresented himself on an Iraq War story that occurred in 2003, has been contract-bound to remain silent on the issue. The news anchor removed himself from the anchor desk, citing that he had "become" the news. NBS later suspended the network anchor for a period of six months following an investigation, which is due to be up in August.

Taking over for Williams in a permanent position on "NBC Nightly News" will be Lester Holt, who has held numerous positions over the years at both NBC and MSNBC.

Williams is expected to work in a lesser capacity on MSNBC, which he helped launch as an anchor in 1994. The position is unclear at this time but will likely be a correspondent or general reporting assignment for the struggling cable news network, which has seen its ratings drop over the past year, struggling to compete with the likes of CNN and conservative news outlet Fox News.

It has not been disclosed whether he will still be maintaining his current $10-million-a-year salary. But if he takes up an anchor position within the cable news network, he could be on par with other cable news anchors, such as Bill O'Reilly, who currently pulls in $17 million a year.

According to CNN Money, Williams will reportedly be handling breaking news reports as they come in for MSNBC, with other responsibilities to be added at an expected announcement by NBC.