Smith, 59, one of U.S. television's most experienced correspondents, will join NBC on July 18 after ending his 25 year-career with CBS. Smith anchored "The Early Show" but was replaced on the morning news program by CBS earlier this year.

NBC News President Steve Capus called Smith a "veteran in the industry and highly regarded journalist, we're honored to have Harry on board as one of the correspondents of the new primetime news magazine show."

Smith will work as a correspondent on the new broadcast, which will be led by Brian Williams and will feature correspondents from across the NBC family, including cable networks MSNBC and CNBC. NBC said the weekly, hour-long program will be built around the week's biggest and most interesting events and will carry "meaningful and in-depth stories, and timely newsmaker interviews."

It will also have a digital edition that will be available online and via the show's iPad app.