It's official: after days of speculation, NBC is canceling Jay Leno's prime time show.
Jeff Gaspin, the chairman of NBC Universal Entertainment, announced on Sunday that NBC is canceling The Jay Leno Show as of February 12th.
He added that the network is hoping to keep Leno for an 11:35 p.m. time slot, Conan O'Brien for 12:05 p.m. and then Jimmy Fallon after that.
According to People magazine, Gaspin said that the reason The Jay Leno Show is being canceled is because it "did not meet affiliate needs" but that through it all, Leno and O'Brien have been "incredibly gracious and professional."
"Beyond that is a private conversation and when it all settles, you can talk to them about that," Gaspin says. "We're back in conversation tomorrow."
Jay may be happy about the change, but we hear Conan is furious! So will he stay with NBC? "Conan's motivation will become more clear as time goes on," said Gaspin.
"We gave something important to him, which was The Tonight Show, made it clear that it was moving with him. Conan wanted the franchise of The Tonight Show; Jay wanted to tell jokes at 11:30. Still things [need] to be worked out," he added.
So at this point the only thing we're certain of is that Jay is going back to his original 11:30 p.m. time slot. As for Conan, only time will tell! Would you be upset to see Conan leave NBC? What are your thoughts on the situation?