THE JAY LENO SHOW -- Pictured: Jay Leno, Host -- NBC Photo: Mitchell Haaseth

The reports are true. The Jay Leno Show is being canceled, but what will happen in late night is actually being decided through ongoing negotiations.

Jeff Gaspin, Chairman, NBC Universal Television Entertainment confirmed that the network’s plan would place Leno in the 11:35 p.m. time slot for 30 minutes, then Conan O’Brien would take the next hour beginning 12:05 a.m. and Jimmy Fallon would move to a 1:05 a.m. start time.

Gaspin admitted that the NBC affiliates were not happy about the downturn in ratings since the Leno “experiment” in primetime began and were seeing significant drops in their schedule news programming positioned directly after the show.

Leno, O’Brien and Fallon were given the weekend to mull it over with the discussions continuing Monday.

Starting February 12th, The Jay Leno Show is kaput and it appears the net is tapping a double dose of scripted TV, with Law & Order: Criminal Intent and Friday Night Lights the likely replacements.

Click onto media bar for Jeff Gaspin’s comments about the cancellation of The Jay Leno Show along with the changing face of late night on the Peacock network.