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NBC reportedly ready to retire Jay Leno, put Jimmy Fallon into late-night game

  • 2013 Vanity Fair Osca_Cala.jpg

    Television host Jay Leno arrives at the 2013 Vanity Fair Oscars Viewing and After Party, Sunday, Feb. 24 2013 at the Sunset Plaza Hotel in West Hollywood, Calif. (Photo by Evan Agostini/Invision/AP) (AP2013)

  • People Michelle Obama_Cala.jpg

    This image released by NBC shows host Jimmy Fallon dressed as a mom, left, dancing with first lady Michelle Obama during an appearance of "Late Night with Jimmy Fallon," Friday, Feb. 22, 2013 in New York. Obama returned to the show to promote her "Let's Move" campaign and to perform in a sketch called "Evolution of Mom Dancing," airs tonight at 12:35am ET on NBC. (AP Photo/NBC, Lloyd Bishop) (AP2013)

NBC is ready to announce Jay Leno’s retirement, expecting to move Jimmy Fallon into the coveted late-night time slot, according to The Hollywood Reporter.

The announcement is expected in May, according to two high-level industry sources. The 2013-14 television season would be Leno’s last, according to the paper. 

Fallon would then move from his “Late Night” spot into the 11:35 p.m. slot during the summer of 2014. A formal kickoff would happen in the fall.

Sources told the Hollywood Reporter that the network will bring in Fallon partly out of concern about the competition on ABC, which moved younger-skewing Jimmy Kimmel to the 11:35 time slot in January.

Leno, 62, has hosted “The Tonight Show” for 20 years.

NBC denied the report. And Leno’s rep said, “we do not speculate on rumor.”

Click for more from the Hollywood Reporter.