Downsizing

Jay Leno Lives!

After he gives 'Tonight' to Conan.

We don't get to write this very often, but score one for Jeff Zucker. The NBC president nailed down a deal that will keep Jay Leno at the network after he is relieved of late-night duty by Conan O'Brien in May. Under the new deal, Leno will host a show similar to The Tonight Show that airs fives nights a week at 10:00 p.m. Leno will likely make more than $30 million per year, The New York Times' Bill Carter reports, but the show will still be cheaper than most series television. NBC had feared that a miffed Leno would take his show to a rival network. Now, it's O'Brien who has a possible grievance: The Wall Street Journal points out that Conan will still be following Jay.