It's official: Leno out, Fallon in

After weeks of speculation, rumor and controversy, it's all over for Jay Leno. Again.

Wednesday morning, NBC announced that Jimmy Fallon will officially become the host of the Tonight Show in Spring of 2014. In addition, the show is moving to New York City and will be produced by Lorne Michaels.

"I'm really excited to host a show that starts today instead of tomorrow." Fallon said in a prepared statement.

Leno was gracious to his replacement, saying "Congratulations Jimmy.  I hope you're as lucky as me and hold on to the job until you're the old guy. If you need me, I'll be at the garage."

"Jay Leno is an entertainment icon, making millions of people laugh every weeknight for more than 20 years," said Steve Burke, Chief Executive Officer of NBCUniversal. "His long reign as the highest-rated late-night host is a testament to his work ethic and dedication to his viewers and to NBC.

"We are purposefully making this change when Jay is #1, just as Jay replaced Johnny Carson when he was #1.  Jimmy Fallon is a unique talent and this is his time.  I'm thrilled he will become the sixth host of 'The Tonight Show' at exactly the right moment, in conjunction with our coverage of next year's Winter Olympic Games from Sochi, Russia.

"I also want to congratulate and thank Debbie Vickers and her 'Tonight Show' team for producing an entertaining, first-class show every night for the past two decades.  Debbie's role in the creative and popular success of this franchise cannot be overstated."

Leno has hosted "The Tonight Show with Jay Leno" since taking over the reins from television icon Johnny Carson in 1992.

Plans for the 11:30 (central) slot are still being ironed out.

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