Big Changes Coming to Late Night Television

With the Tonight Show shake up being official, INSIDE EDITION looks at what's ahead for other key players in late night.

The Jay Leno-Jimmy Fallon shakeup is just the first in a series of historic changes to the late night TV landscape.

Sources tell The Hollywood Reporter that Jimmy Fallon's show is now "Seth Meyers' to lose."

Meyers currently hosts Saturday Night Live's Weekend Update, and he has a long history with NBC.

Sophie Schillaci, editor at The Hollywood Reporter, said, "He's well-liked on TV. He's been doing it for a long time, so I think it could be a good move by NBC."

David Letterman's contract is up in late 2014. Will 65-year-old Letterman stay on at the Late Show, or move on? quoteed a "TV insider" as saying that Jon Stewart is a possible replacement should Dave decide to call it a night.

TV Guide business editor Steve Battaglio said, "A lot of people in the industry believe that once Jay is gone, Dave will decide to hang it up as well. So the question is who's next? A lot of people think that's Jon Stewart. He's in the CBS/Viacom family, and his contract is up in June of 2015."

Steven Colbert and Craig Ferguson have also been named as possible Letterman replacements.

Meanwhile, Arsenio Hall, who won Celebrity Apprentice last year, is returning to late night this fall with a syndicated talk show.

So where does all this leave Jay Leno? A very rich man.

NBC will reportedly pay him $15 million, a full year's salary, to step down from The Tonight Show seven months before his contract ends.

But he reportedly makes even more money performing standup in Las Vegas.

"Jay has been banking his NBC money for years," the New York Daily News quotes a source as saying. "He lives off of his Vegas money."

Kelly Ripa weighed in, saying, "How rich is somebody to not have to use their main source of income as their main source of income?"

64-year-old Leno tells the New York Times that after he signs off he'll be "back on the road, being a comedian again."

For now, Leno is laughing off reports that he's talking to FOX about launching a late night show.

"I've done this job for a long time, and I really enjoy it," he told the Times. "Would I do it again? Believe me, the phone's not ringing off the hook."