Conan on Leno: 'A Happy Ending'

One of the big questions yesterday was about how Conan O'Brien felt regarding the news about Jay Leno. Here's a transcript of his on-air response:

"I have to talk about something that's happening in my life. I woke up this morning and I saw something on the front page of the paper that absolutely shocked me. I was stunned and I have to say I didn't see this coming and I just had to share it with you for a second. Check it out ladies and gentlemen – today's New York Post [he holds up the paper and the camera zooms in past the NY Post's front-page Jay Leno headline to the weather]. It says here showers and 51 degrees. 51 degrees in December? It was 20 degrees yesterday, that's crazy! Check this out -- Daily News [again the camera zooms in past the Leno headline to the weather] 49 degrees? Well which is it? 49 or 51? Let's get our stories straight here, people! This is insanity!

"Let's talk about this on a serious note for just one moment, I've had many people calling me today saying, 'What is all this? "What's happening?' Jay Leno is going to be going in at 10:00 on NBC. I wanted to make something very clear here on the show this evening. I've known about this for a while. I've talked a lot about this with Jay. I am thrilled. I am absolutely thrilled that Jay is staying at NBC. He has been my lead-in on this program for 16 seasons. He is a fantastic lead-in. He is a huge part of my success. I am indebted to Jay Leno. And I love the idea that that relationship is going to continue. He is going to be my lead-in continuing, I hope, for a long, long time. So congratulations to Jay Leno. This is a happy ending. It's very nice. We're thrilled for him and we're thrilled for everybody at 'The Tonight Show.' Also I've talked it over with my producer and that means I can keep doing my Jay Leno impression."

Here's are clips of Leno's comments -- and guest Diddy's comments -- on the big news on "The Tonight Show":

And here's a clip from "Countdown With Keith Olbermann" featuring an interview with Leno: