Jay Leno’s two-decade reign as the host of “The Tonight Show” is hardly a textbook example of how to handle major corporate transitions.
NBC’s indecisiveness in 1992 placed Leno from day one in the midst of a feud with David Letterman, an insider candidate to replace the legendary Johnny Carson. In 2009, the network eased the younger comic Conan O’Brien into the role of Tonight Show host, then reversed course a few months later, and brought back Leno. This week, Leno will fall on NBC’s sword, and be replaced by Jimmy Fallon.
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