NBC's late-night picture continues to simultaneously get clearer and more cloudy.
 
According to The Hollywood Reporter, Jimmy Fallon has closed his deal to take over the 11:35 time period and "The Tonight Show," a deal that would presumably move the show to New York City.
 
When will this transfer of power take place? How and when will NBC formally announce the deal? It's decidedly unclear. Jay Leno's "Tonight Show" contract runs through September 2014 and reportedly contains penalties if he's to depart before that date, but the scuttlebutt has also had NBC preferring a switch sooner, rather than later. 
 
Obviously, we'll update whenever any single piece of information becomes official courtesy of NBC. 
 
Fallon moving to 11:35 would create a vacuum on "Late Night" at 12:35 and the trade report says that Seth Meyers is now the new frontrunner for the gig, but nothing in the story indicates that formal negotiations between NBC and the "Saturday Night Live" veteran have begun.
 
Stay tuned in case anything happens.