Jerod Harris/ZUMA Press

How's this for a weekend update: Jimmy Fallon's succession of Conan O'Brien's late-night throne looks to be a done deal.

While Fallon has been the front-runner (and pretty much the only one—apologies, Carson Daly) to succeed the flame-haired funnyman in the post-Tonight Show slot come 2009, NBC has stayed mum on who O'Brien's late-night heir-apparent would be.

But while the Peacock remains gagged, both the Hollywood Reporter and Variety are reporting that Fallon has already signed on the dotted line. The network itself has yet to comment and will likely wait to confirm the news at their upfront presentation in New York May 12.

As he did with O'Brien, Fallon's former Saturday Night Live boss Lorne Michaels will produce his newest protégé's late-night show.

Fallon isn't a complete neophyte, having served as guest host for CBS' Late Show with David Letterman back in 2003.

The switch is expected to take place in early 2009, when O'Brien will take over Tonight for a reluctantly departing Jay Leno.