NBC Nightly News anchor Brian Williams suspended for six months without pay

"NBC Nightly News" anchor Brian Williams was suspended for six months without pay for exaggerating his role in a helicopter incident in Iraq, marking the first time a network news anchor has been stripped of his duties.

The top-rated network anchorman has been hit with a six-month suspension for embellishing his Iraq War and Hurricane Katrina experiences.

"We have decided today to suspend Brian Williams as managing editor and anchor of NBC Nightly News for six months," NBC News president Deborah Turness said. "The suspension will be without pay and is effective immediately. We let Brian know of our decision earlier today. Lester Holt will continue to substitute anchor the NBC Nightly News."

"Brian has jeopardized the trust millions of Americans place in NBC News," Steve Burke, president of NBCUniversal, said in a statement. "His actions are inexcusable and this suspension is severe and appropriate."

Turness said the network's probe into Williams' statements is continuing.

"Brian misrepresented events which occurred while he was covering the Iraq War in 2003," she said. "It then became clear that on other occasions Brian had done the same while telling that story in other venues. This was wrong and completely inappropriate for someone in Brian's position."

While Brian Williams is gone, weekend anchor Lester Holt will continue to handle the weekday broadcast while the internal review led by NBC News investigations editor Richard Esposito is ongoing.

"If he comes back, how big a ratings hole will NBC find themselves in and can he dig out of it?" said Jon Klein, a former top executive for CNN and CBS News. "Or does the opposite happen and Lester does just fine? If there is no impact, what does that tell you?"