The worst-kept secret in TV has
been confirmed: NBC officially announced that Jay Leno would be returning to host "The Tonight Show" starting March 1.
In that press release, NBC didn't mention Conan O'Brien, who took over
the hosting job of the show in June. He lasted seven months, and according to reports, will receive $33 million in severance, with another $12 million going to his staff of 200. Leno hosted the show
for 17 years.
NBC executives and NBC affiliates witnessed the show's key 18-49 ratings sink almost 50% or more when O'Brien took over, taking the show to second place against rival CBS'
resurgent "Late Show with David Letterman."
In a separate statement concerning O'Brien, NBC said in an agreement signed Thursday, that it and O'Brien "will settle their contractual obligations
and the network will release O'Brien from his contract, freeing him to pursue other opportunities after September 1, 2010." Rival networks, including Fox, have been suggested as possible new homes for
him.
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O'Brien did expand the number of younger viewers. But media advertising executives say there is much more money to be made from targeting 18-49 viewers.
Compounding the problem was
installing "The Jay Leno Show" at 10 p.m., which also suffered in ratings, but was profitable for the network -- versus other prime-time programming.
During this period, NBC affiliates suffered,
losing big late-night revenue -- especially from their local newscasts. In early January, Jeff Gaspin, chairman of NBC Universal Television Entertainment, told critics that around one-third of NBC
affiliates were considering pre-empting "Leno" at 10 p.m.
That prompted Gaspin's plan: wedge a half-hour "Jay Leno show" at 11:35 p.m, with "The Tonight Show" moved to 12:05 p.m., and return
NBC at 10 p.m. to scripted and unscripted programming. But O'Brien rejected the revamped "Tonight Show" plan, then went on to rail against NBC executives with comedy for about two weeks, where his
ratings shot up 50%.
Letterman and Leno also spewed comedy at the expense of NBC -- and each other.
In the press announcement, NBC says "Late Show with Jimmy Fallon" would continue
running at 12:35 p.m.