Top NBC Universal executives and representatives for O'Brien on Friday were close to settling details of his departure, said the person, who lacked authority to discuss the issue and spoke on condition of anonymity.
Universal Studios president and COO Ron Meyer was among those involved in the talks, the person said. The focus has been on how much O'Brien, who has time left on his NBC contract, would be paid for leaving and what limits NBC may put on his future employment at another network.
The deal under discussion would provide for a settlement of more than $30 million and allow him to start a new show as early as this fall, the person said.
O'Brien has two-and-a-half years left on his contract; reports of his annual salary vary widely, from $10 million to $25 million.
NBC didn't immediately respond to a request for comment Friday night.
The progress in negotiations didn't stop O'Brien from once again hammering NBC in his "Tonight" monologue.
"In the press this week, NBC has been calling me every name in the book. In fact, they think I'm such an idiot they now want me to run the network," O'Brien said Friday.
Other late-night hosts, including David Letterman on CBS, have been using their shows to crack jokes about NBC's late-night mess and the players. On Friday, Leno fired back.
"Even Dave Letterman is taking shots at me, which surprised me. Usually he's just taking shots at the interns," Leno said, a reference to the CBS host's admission last year that he had affairs with women who worked on his show.