In its investigation of embattled "Nightly News" anchor Brian Williams, NBC found that the majority of his tall tales about his reporting took place on late night talk shows and in public appearances rather than while he was on the network.

That distinction appears to have been a major factor in NBC's decision to keep Mr. Williams, albeit in a diminished role at the network's sister cable news channel MSNBC. Lester Holt, who has been filling in for Mr. Williams on "Nightly News" since February, was named the permanent anchor.

NBC, in a statement, didn't go into detail about what its probe of Mr. Williams revealed beyond saying that he had "made a number of inaccurate statements about his own role and experiences covering events in the field." The network went on to say that most of the inaccuracies didn't happen on NBC News platforms, "but rather on late-night programs and during public appearances, usually years after the news events in question."

The story that led to the inquiry of Mr. Williams, however, did happen in part on the air and involved the anchor saying he'd been in a helicopter in Iraq in 2003 that came under attack. That story was debunked and Mr. Williams apologized on air.

In a statement, Mr. Williams apologized for saying things "that weren't true" and added that he is determined to win back the trust of NBC News and its viewers.

In his new role, Mr. Williams will anchor breaking news stories and special reports for MSNBC and primarily appear in the daytime. MSNBC's evening schedule is mostly political talk shows.

"Brian now has the chance to earn back everyone's trust," said NBC News Chairman Andy Lack. "His excellent work over 22 years at NBC News has earned him that opportunity."

Mr. Williams was interviewed about his exaggerations by Matt Lauer, the anchor of NBC's "Today." That interview will appear on Friday morning's "Today" broadcast as well as on "Nightly News" Friday evening.

Write to Joe Flint at joe.flint@wsj.com

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