NBC News announced Thursday that it has demoted Brian Williams as anchor of its marquee nightly newscast to a position at MSNBC, a fall from grace for the journalist who was arguably the most popular American TV newsman until he was caught fibbing about his work.

Lester Holt, who has substituted for Williams as the anchor of NBC Nightly News while Williams was serving his six-month suspension, was named permanent anchor for the evening news program, a reward for Holt’s steady work for decades at the network and for keeping the show’s ratings afloat.

For the complete story, visit USAToday.com/Money.

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