The SNL season finale this Saturday will be Moynihan's last episode on the sketch-comedy series, reported Deadline.
The 40-year-old comedian's exit from SNL comes as his CBS comedy pilot, "Me, Myself & I", was picked up to series and landed on the network's fall schedule.
Moynihan, just like other SNL veterans, developed his own stable of recurring characters, including Drunk Uncle and secondhand reporter Anthony Crispino.
Among the real-life people he impersonated on the show were Chris Christie, Guy Fieri, and Snooki.
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