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Jay Leno

NBC's decision to keep Tonight Show host Jay Leno is the company's wisest in a while. Not only does the ratings-challenged network get to keep its ratings leader, but now it doesn't have to worry about competing against him at a rival network.

His new nightly show, which will have more stunts and topical elements but otherwise look largely the same, will air in the General Electric (nyse: GE - news - people )-owned network's 10 p.m. prime-time block beginning this fall.

"Just when I think I'm out, they pull me back in," Leno joked at Tuesday's news conference in Los Angeles.

Back in 2004, NBC announced it would pass the Tonight Show baton to rising star Conan O'Brien in 2009, a decision heavily criticized in the press given Leno's continued ratings dominance and eagerness to keep working. The network spent the years since trying to keep Leno in the fold.

The late-night funnyman wasn't without options. In addition to wooing by NBC, he is believed to have been pursued by Disney (nyse: DIS - news - people )-owned ABC and News Corp. (nyse: NWS - news - people )-owned Fox as well as Sony (nyse: SNE - news - people ) television studio in recent months as well.

In addition to the nearly 5 million viewers who tune in each week--this figure could rise in an earlier time period--Leno's show delivered $233 million in advertising revenue to NBC this year, according to TNS Media Intelligence. By comparison, CBS' (nyse: CBS - news - people )Late Show with David Letterman generated $185 million, while O'Brien's current show added just $79.9 million to the network coffers.

News of the move comes a day after NBC Universal Chief Jeff Zucker spoke out on the need to fix broadcast television's business model at UBS' (nyse: UBS - news - people ) 36th Annual Global Media & Communications Conference in New York.

In recent years, programming costs for prime-time originals have soared as the opportunities to recoup those costs have become increasingly difficult. "I think we do have to continue to rethink what a broadcast network is today," he told a ballroom filled with investors, "and what we want it to be." (He didn't indicate that any major changes were imminent.)

David Gregory's new job as moderator of "Meet the Press" is official with the announcement on the long-running NBC interview program that he will take over starting next Sunday.

The 38-year-old chief White House correspondent for NBC News was introduced Sunday by Tom Brokaw, fill-in moderator for "Meet the Press" since the death last June of Tim Russert, the program's moderator since 1991.

David Gregory's new job as moderator of "Meet the Press" is official with the announcement on the long-running NBC interview program that he will take over starting next Sunday.

The 38-year-old chief White House correspondent for NBC News was introduced Sunday by Tom Brokaw, fill-in moderator for "Meet the Press" since the death last June of Tim Russert, the program's moderator since 1991.

Most advertising slots for the 2009 Super Bowl that weren't sold in September still haven't moved, a change from earlier in the year when NBC announced the air time had been selling faster than usual.

Super Bowl regulars like FedEx Corp. (nyse: FDX - news - people ), Garmin Ltd. (nasdaq: GRMN - news - people ), Salesgenie.com and General Motors Corp. (nyse: GM - news - people ) are sitting out this year's football championship, to be held Feb. 1 in Tampa, Fla. But NBC says it is negotiating with other potential advertisers for the eight 30-second advertising spots that remain open.

"We're hearing from a lot of companies," said Brian Walker, senior director of communications at NBC Sports in New York. "This is a time to show strength and confidence in their brands in a challenging economy,"

Walker said NBC had a total of around 67 spots for Super Bowl XLIII and has sold about 59, or 88 percent. In September, NBC said 85 percent of the 30-second spots had sold for about $3 million each. Typically, 60 percent of Super Bowl slots sell by then.

The National Football League championship is considered the premier advertising event of the year, and it often heralds new trends in advertising sales and styles.

Walker said NBC could technically sell ad spots up to the last minute before the event. He declined to say whether NBC - a unit of NBC Universal, which is owned by General Electric Co. (nyse: GE - news - people ) - is facing pressure from companies to discount rates.

GM, which bought airtime during the Super Bowl for about a decade, is cutting costs as part of a restructuring plan that was in place even before the automaker requested federal help.