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Jay Leno Axed from NBC? [Updated]

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Shocking but not surprising news. Word is spreading that, according to industry blog, the Jay Leno Show is being canceled by NBC. Leno's nightly 10 p.m. slot has caused a lot of trouble for the network such as forcing it to cancel shows like Southland (luckily, TNT picked it up) and tank ratings, which in turn has affected subsequent newscasts. "Citing anonymous sources, the site said executives have not yet decided when to pull the show or what may replace it," reported FOX Business. UPDATE: Sources are saying Leno may move back to 11:30 p.m., but what about Conan?!