Jay Leno retirement: Is late night host on the way out?

Comedian Jay Leno may be preparing to leave “The Tonight Show” after the 2013-2014 season, according to The Hollywood Reporter.

Leno’s network NBC has categorically denied the rumor, but the magazine stood by the report Friday. Two high-level industry sources reportedly told The Hollywood Reporter that NBC will announce Leno’s departure in May.

Sources told the magazine they expect the network to move comedian Jimmy Fallon from his current show into Leno’s coveted time slot with a soft launch during the summer of 2014 before a formal fall kickoff.

Comcast, which owns NBC, imposed layoffs at “The Tonight Show” in August of 2012. Leno voluntarily took a big pay cut from his reported $30 million salary.