Leno Out as Long-Time Host of TONIGHT SHOW? - Fallon to Take Over in 2014

Jay Leno has fought long and hard to fend off Conan O'Brien and David Letterman from taking the reins of NBC's long-running late-night talkfest THE TONIGHT SHOW, but according to The Hollywood Reporter, his luck may have just run out.

Two "high-level industry sources" have told The Reporter that the peacock network will be making an official announcement in May that the 2013-14 television season will be the last for Leno. According to the report, Jimmy Fallon will take over as host of THE TONIGHT SHOW in the 11:35 p.m. slot beginning with "a soft launch during the summer of 2014 before a formal fall kickoff."

A representative for Leno has denied the news stating, "We do not speculate on rumor." Yet, Leno has recently faced tough competition in younger audience demos from ABC's 'Jimmy Kimmel Live', a show which made the move to the earlier time slot in January. "The more time Jimmy Kimmel is in that slot, the more the young audience goes that way, the harder it is for [Fallon] to keep that audience," says a source familiar with the network.

Though Leno remains competitve in the ratings, Kimmel has been beating him in the all-important 18-49 demographic. "Kimmel has done extremely well," says a network source, adding, "Jay wins overall, but on any given night, it's neck-and-neck in 18-49. I understand where they might have fear and also feel that they own the solution [in Fallon.]"

If the announcement is made that Fallon will take over as host in 2014, one observer notes that NBC will most certainly use it to "get the benefit of selling Jay's last year. "