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Seacrest’s announcement was during a stint on the Today show, ending rumors that he would be taking over Matt Lauer’s role as host of the morning show.

The two did joke about the rumors, though. Lauer told Seacrest he wanted “names and dates” of conversations he had about the Today show. Seacrest jokingly said that all the talks he had about the Today show were about “filling in to do the weather.”

Seacrest helping with the 2012 Summer Olympics in London is part of a plan to merge NBC Universal and E!, reports The Daily Beast.

"I've worked with the E! network for years, and NBCUniversal and E! are in the same family," Seacrest said. "The plan is for me to join the NBC family and continue to have a role at the E! network. The first assignment will be to join the prime time team for the Olympics on NBC."

Seacrest also said that he was planning to stay on American Idol, reports the NY Times. His contract ends at the end of this season.