After weeks, months, even years of speculation, Jimmy Fallon is officially set to take over 'The Tonight Show' from longtime host Jay Leno, moving production of the legendary NBC late-night series to New York in 2014. The speculation had reached a boiling point in recent weeks, with the NBC late-night comedians even playfully joking about the matter, before NBC officially decided to confirm the transition. So when can we expect 'The Tonight Show with Jimmy Fallon?' Find out the details of late night's future inside!

At long last, NBC's 'Tonight Show' finally has a future that Jay Leno will gracefully step aside from. The New York Times has confirmed with NBC that Jimmy Fallon will move to take over 'The Tonight Show' from the 62 year-old Leno in early 2014, rather than wait for the expiration of Leno's contract next September. Also confirmed is that 'The Tonight Show' will move back to its original New York home, looking to capitalize on Fallon's affiliation with the city.

"The main difference between this and the other time is I’m part of the process," said Leno of the transition, contrasting it with the 2009 debacle that saw Conan O'Brien briefly installed as host of 'The Tonight Show.' "The last time the decision was made without me. I came into work one day and — you’re out. There really aren’t any complications like there were the last time. This time it feels right.”

Fallon will officially take the big desk at the conclusion of NBCs February coverage of the 2014 Winter Olympics from Sochi, Russia, earlier than the September expiration of Leno's contract with the network. As response to Leno's recent comedic bouts with the network, NBCUniversal Chief Executive Steve Burke assured Leno he was welcome to remain until the end of his contract, but Leno told reporters “I appreciate that, but it’s not really necessary. And I don’t want to make it harder for Jimmy. I want to hand off something that’s going to make it easier.”

"We are purposefully making this change when Jay is #1, just as Jay replaced Johnny Carson when he was #1," said NBC in their official statement. "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."

Leno will most likely return to stand-up comedy, while the NYT article makes no confirmation of plans for 'SNL' vet Seth Meyers to take over Jimmy Fallon's old desk at 'Late Night.'

Well, what say you? Are you excited to see that NBC's 'Tonight Show' wars have finally come to an end? Will Fallon succeed where Leno left off? Tell us what you want to see from the future of late night in the comments!

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