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Jimmy Fallon 'signs NBC contract extension, will take over Tonight'

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Jimmy Fallon has reportedly signed a contract extension with NBC.

Two highly-placed sources with knowledge of negotiations told The New York Times and The Hollywood Reporter that Fallon has finalised an agreement to succeed Jay Leno as host of The Tonight Show, following repeated speculation about a handover.

Jay Leno and Jimmy Fallon -- 70th Golden Globes, January 13, 2013

© PA Images / Jordan Strauss / AP

Jay Leno and Jimmy Fallon



Fallon's previous contract was due to end in 2015. However, further details - including the mooted timing of a Tonight Show handover and whether production will move back to New York after 40 years in Burbank - remain unclear at this stage.

NBC is reportedly keen to make the change in February 2014 during its Winter Olympics coverage, or in September 2014 when Leno's current contract is thought to end.

An insider additionally told THR that Seth Meyers is still the lead candidate to replace Fallon on Late Night, saying: "It will be Seth unless something goes awry [in negotiations]."

Jimmy Fallon and Seth Meyers on the red carpet at the 63rd Primetime Emmy Awards

© PA Images / Chris Pizzello/AP

Jimmy Fallon with Seth Meyers at the 63rd Primetime Emmys



Saturday Night Live head writer Meyers is said to be the personal choice of producer Lorne Michaels to assume the reins at Late Night.

Leno was recently quoted as saying that he hopes Fallon succeeds him, and the pair recently filmed a light-hearted musical skit spoofing 'Tonight' from West Side Story.

Fallon and Leno sent up the media frenzy surrounding NBC's late night schedule changes in the song, which aired between their respective talkshows on Monday evening (April 1).

Watch Jay Leno and Jimmy Fallon's musical 'Tonight' skit below:

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