No such luck.
As I predicted, the ratings plunge for the NBC affiliates [specifically local news] was causing a revolt, which in turn caused NBC to flinch. The higher-ups held discussions with both Leno and O'Brien Thursday about the future of NBC's late-night schedule. I suspect it was a lot like going to see the principal. While Leno would see his time slimmed down to a paltry half-hour, O'Brien would still host an hourlong program, which would push Late Night host Jimmy Fallon to 1:05/12:05 Central start time. This also leaves up in the air the future of Last Call with Carson Daly, which starts at 1:35/12:35 C following Fallon. But, seriously, what the hell is that? Why not kill off Leno, and save face with O'Brien?
And unless NBC has some major surprises that they've had on the shelf to support five full time slots with something for the 9/10 PM evening holes what the hell are they going to fill after the Winter Olympics? Oh, wait, they can always fill it with new forms of Law and Order Property Department or Law and Order Meter Maid. I'm sure you'll see a lot of the fastest, cheapest crap ever put on Network television. Expect Candid Camera/YouTube, SNL's Best Clip Show Moments, America's Pets Have Talent, and Prime Time Maury Povich! I had a couple other ones, but I think I'll save those...
Amazingly, in trying to explain this fiasco a football analogy would work. The owners tried a crazy strategy, and it didn't work. Time to change the scheme and the coaches. However, by the time the damage is done, it's going to be like spooking a dugout in a baseball team and not football - and that's the last thing you want, a baseball analogy. It'll take at least a full season for NBC to get back into any stride. And on top of it, you'll have some very pissed off people in the Leno and O'Brien camps who will be startled by the massive rattling [unless there's serious money in making this settle down] of their cages. Total massive failure.