VIDEO: Leno, Fallon & Kimmel Address News of TONIGHT SHOW Transition

Jay Leno, longtime host of NBC's "The Tonight Show with Jay Leno," announced yesterday that he will wrap up what will be 22 years of headlining the iconic late-night show in Spring 2014. NBC also announced today that Jimmy Fallon, now host of NBC's "Late Night with Jimmy Fallon," will transition into new hosting duties on "The Tonight Show" franchise after Leno concludes his successful run.

As part of the transition, "The Tonight Show" will be returning to its original home in 30 Rock in New York and will be executive-produced by Emmy Award winner Lorne Michaels ("Saturday Night Live," "30 Rock").

Below, the late night hosts address the news during their opening monologues. And not to be left out, Jimmy Kimmel, host of ABC's Jimmy Kimmel Live had his own take on the announcement:

"It is a big one for the world of late-night television," Kimmel said in his Wednesday monologue "As you probably heard -- it was announced officially today - that, starting in February of next year - after the Olympics - I will take over as new host of The Tonight Show. I spoke to Jay on the phone today. ... Excuse me for one moment. [walks off camera to confer with a staff member] OK. Ummm - apparently it was a different Jimmy. Are you sure? Hold on."

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