Follow LA Observed on Twitter here
It certainly appears as if Jay Leno's time at 10 p.m. on NBC is short, though what would happen next is way unclear. NBC has denied FTV's report that Leno will be cancelled. TMZ is now saying that Leno will go back to 11:30 after the Winter Olympics and that Conan O'Brien will simply lose out, but let's see about that. Stay tuned.
* Update: NBC not denying the TMZ report, as LA Biz Observed notes.
Recently: Leno races Mulholland for Wired