Is Conan O'Brien's NBC Exit Imminent?

For those of you who optimistically joined "Team Conan" this week, the latest news isn’t so promising.

Daily Beast columnist Kim Masters is reporting that current Tonight Show host Conan O’Brien is leaving NBC and receiving a payout (he’ll be free to appear on another network before his contract expires) so that Jay Leno can reclaim his role as host of The Tonight Show -- a torch he passed to O'Brien less than a year ago.

According to a knowledgeable insider, Masters says, Universal Studios president Ron Meyer (a former show-biz agent with finely-tuned negotiating skills) was called upon to step in when talks between the camps broke down this week. The inside source said NBC started out sincerely hoping it could keep O’Brien at NBC -- but in a new 12:05 a.m. time slot, with his Tonight Show airing after proposed half-hour broadcast (to be newly created for Leno). Now that all parties reportedly agree that plan isn't realistic, and now that Leno looks certain to be the Tonight Show's host once again, the next question in this surreal late-night switcheroo is just how big a check the peacock network will be writing to O'Brien (who must have some pretty ruffled feathers!).

Plus: The Jay vs. Conan Showdown: Who Do You Side With?

Do you think Conan O'Brien will make a comeback hosting another show? Chime in below!

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