We've learned Jay's 10:00 PM show will go on hiatus February 1. After the Olympics, Jay will take back his 11:30 PM time slot. What has not been decided -- whether Jay's show will be a half hour, followed by Conan, or whether Jay's show will be an hour and NBC says sayonara to Mr. O'Brien.
OK, so TMZ totally botched the whole JFK hanging out with a bunch of naked women on a yacht thing (a picture which turned out to be from a Playboy shoot from the 1960s that happened long after Kennedy was assassinated), but they got the Tiger Woods thing right (Michael Jackson, too!).
5:15p PT Update: Broadcasting & Cable's Ben Grossman writes that NBC would like to make a decision before a January 21 affiliates meeting.
2:50p PT Update: Several sites, including New York Times' Media Decoder write that NBC is not denying that such a move is being considered:
NBC executives held discussions with both Jay Leno and Conan O’Brien Thursday about the future of the network’s late-night lineup. And while executives said that no final decision has been made, they did not deny that the network is considering moves that could include returning Mr. Leno to his old job as host of “The Tonight Show.”
1:50pm Pacific Update: TMZ has updated its post with seemingly the same language issued by NBC much earlier today:
UPDATE: A rep for NBC tells TMZ: "Jay Leno is one of the most compelling entertainers in the world today. As we have said all along, Jay's show has performed exactly as we anticipated on the network. It has, however, presented some issues for our affiliates. Both Jay and the show are committed to working closely with them to find ways to improve the performance."