Sources tell the Times that Fallon may be signing a holding deal with the network soon. The holding deal would commit Fallon to appearing only NBC and would make his transition to "Late Night" easier when the time comes to pick a new host. It would also allow him to develop TV shows with NBC.

A Fallon insider told the Times, "Anything can still happen here. This [holding] deal is about bringing Jimmy back to NBC. But he could have a hit movie and not want to jump back into television." Regarding Fallon's prospects for hosting "Late Night," the source said, "That's a couple of years away. There are so many shoes to fall in this thing between then and now."

Should Fallon decide that he would like to host the show, he may have competition in the form of Carson Daly, who already hosts a late night show for NBC. His "Last Call" has been on the network for five years. The Times reports, "Mr. Daly has said he would like to be considered for that 'Late Night.'"