Update: full press release from TBS.
In the age of Twitter, no one has an exclusive on this sort of thing, but here's what TVMoJoe has to say:
The news is being announced on the same day O'Brien opens a nationwide live comedy tour in Eugene, Oregon. It's also the opening day of the National Association of Broadcasters convention in Las Vegas -- ironic, given the shift of a major broadcast brand to the wired world.
And Conan's tweet on the subject:
The good news: I will be doing a show on TBS starting in November! The bad news: I'll be playing Rudy on the all new Cosby Show.