Conan O'Brien will likely leave the Tonight Show

A deal that would allow Jay Leno to step back into the hallowed Tonight Show seat is near completion, according to reports.

Representatives of Conan O’Brien and NBC executives were close to a deal on Friday that would allow O’Brien to walk away from the network and clear the path for Jay Leno to host the Tonight Show again, according to the Associated Press.

The discussed deal would put a settlement of $30 million into the hands of O’Brien and allow him to go back on the air elsewhere as early as next fall.

Jay Leno hosted the Tonight Show for 17 years.  In 2005 the comedian announced his retirement and the handing over of the show to Conan O’Brien in 2009.  After leaving the Tonight Show, Leno started a similar show that aired in the 10pm slot on NBC.

Local affiliates complained of bad ratings leading into their newscasts and NBC was forced to make a decision.  The network proposed moving the Jay Leno Show to the 11:35pm slot, which has been held by the Tonight Show for decades.  O’Brien’s Tonight Show would then be pushed to 12:05.  O’Brien announced in a public statement addressed to the “People of the World” that he would not stand for this.

The two talk show hosts have engaged in a very public battle with each other and the network, using their show monologues to sling mud all around.

O’Brien opened last night’s show with, “I’m Conan O’Brien, NBC employee of the month.”