Leno to Retire: Fallon, Kimmel to Battle It Out in Late Night

Jimmy Fallon will be the new host of NBC's "Tonight Show" when Jay Leno retires.
2:11 | 04/04/13

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Transcript for Leno to Retire: Fallon, Kimmel to Battle It Out in Late Night
We are talking about the seismic changes in late night. Jimmy kimmel cracking everyone up joking about all of it. Take a look. We've all fought, kicked and scratched to get this network up to fifth place. Jimmy, don't let it slip sixth. From punch line to end of the line after 22 years, ja jay leno joking passing the torch to jimmy fallon. Our focus is on whatever this show is called. Reporter: This means fallon will be sharing a time slot with another jimmy. Abc's jimmy kimmel. I will take over as new host of "the tonight show" on nbc. Excuse me one second. Apparently it's a different jimmy that's going to be hosting "the tonight show." Kimmel just moved to the 11:35 time slot 11 weeks ago crushing ratings leaving letterman in the dust the 18 to 49 demographic so coveted by advertisers. Jimmy kimmel is a much younger host came out of the box doing very well. I think nbc felt like maybe it was time to put somebody younger in "the tonight show" chair. Reporter: How do the two jimmys stack up? For starters they were both born in brooklyn, kimmel, 45. Hit it big hosting "the matt show" and counts matt damon as one of his favorite sidekicks. I am in command of this shift. Reporter: As for fallon, the 38-year-old got his big break an "saturday night live" and recently had justin timberlake on his show for a week straight. Both have huge slierl presenc presencesen youtube and twitter. ♪ Tonight tonight who's going to host tonight ♪ Reporter: Kimmel tweeting his congratulations to fallon saying congratulations to my dear, sweet jimmy fallon, a formidable rival and an incredible lover." This will mean an extended role forlorn michaels. He's currently jimmy's executive producer on late night and will go with him to "the tonight show." Who gets the last laugh with ratings? I love the good spirit. As it should be. How about you, sam? This is like the third time

This transcript has been automatically generated and may not be 100% accurate.

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