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Big changes are in store for NBC’s ‘Tonight Show.’ Jimmy Fallon will replace veteran talk show host Jay Leno when his contract expires in the fall of 2014.

According to the New York Times, the show will move back to New York City with Fallon at the helm next year.

The ‘Tonight Show’ premiered in 1954 with host Steve Allen, followed by Jack Paar and later the iconic Johnny Carson, who took the show to the West Coast.

‘Late Night with Jimmy Fallon’ has been recorded at NBC Studios in Rockefeller Center 30 Rock for the past four years.

NBC is hoping to avoid a repeat of the drama that accompanied the last transition.

Three years ago Conan O’Brien replaced Leno, who spun off another show in prime time. Jay’s show flopped and the network gave him back his old job and paid off O’Brien. NBC suffered a significant black eye over the fiasco.

Where does this leave the other late night icon David Letterman? His contract is also up next year and it seems likely that CBS will be looking for someone to fend off a market share takeover by Fallon.

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