Monday, Feb. 24, 2014 will be the day that Jimmy Fallon takes over as host of the Tonight show from Jay Leno and Seth Meyers takes over as host of Late Night from Jimmy Fallon, NBC announced on Monday. The transition will occur during NBC's coverage of the Winter Olympics. The late night landscape has grown increasingly competitive and we wanted to make the Tonight show transition when it's still No. 1, NBC Entertainment chairman Bob Greenblatt said. Meanwhile, TV Guide is reporting that NBC is considering an extreme makeover of Late Night and may expand Tonight to 90 minutes.