UPDATED: According to TMZ,who apparently now rules the Hollywood rumor mill,NBC has given a choice to Conan O’Brien about his fate at the “Tonight Show”. O’Brien can either allow Leno’s show to make the move to 11:35PM,making him the lead in to their late night and start his show at 12:05,or give Leno back the reins and step away from NBC completely. Sources are saying that O’Brien is considering the deal. No confirmation on any of this,except Leno’s hiatus during the Olympics. More info to come by days end Im sure. Ahhh…. NBC what a place to work.

Jeeeez NBC can you make up your minds? Word on the street,or actually links from the tweets,are saying that the NBC executives are moving Jay Leno back to his original 11:30 PM time slot and that Conan O’Brien might no longer have a home on the network. As of now this is all just conjecture based on industry rumors,but as we have learned recently TMZ seems to have a real strong grasp on what the actual news is in Hollywood,even when starlets aren’t the subject matter. According to Nikki Finke and Backstage,Leno might need to find a new home due to the increasing displeasure of NBC’s affiliates and their lost ratings. And while it seems to be pretty bad for both Leno and O’Brien in regards to ratings,TMZ is reporting that sources are saying its only Conan who will be sent packing.

If Leno gets his old job back,even if the show is only a half an hour,it will reward someone for failing. It will also hinder O’Brien,if he chooses to stay there,mess with the increasingly entertaining Late Night with Jimmy Fallon and piss of a great deal of young and hip viewers. What we definitely know now is that the Leno show at 10PM will be going on hiatus from February 1st on,to welcome the 2010 Olympics to the network and what happens after that is anyone’s guess. But,if I was a betting woman I would assume Conan would be consulting his lawyers now. As a viewer,all of these changes and complete disregard for the necessary changes that need to happen to this network has really started to piss me off.

This is a breaking story and will be updated when new information is available.