Although it wouldn't be a surprise if and when NBC makes it official, but right now the network is denying that Conan O'Brien is officially out as host of "The Tonight Show" some seven months after taking over the show, to be replaced by the guy he succeeded.

Gossip site TMZ said Thursday the deal was done that would give Jay Leno the "Tonight Show" during its regular 11:35 p.m. ET timeslot and that O'Brien is packing his bags.

As part of Leno's original deal, he was guaranteed a spot in the 10 p.m. hour, which he has occupied on NBC since September, so the network was forced to write up a new contract. O'Brien, reportedly, was guaranteed "Tonight" in his contract, but not the timeslot.

NBC had originally announced they would put Leno on at 11:35 p.m. with his own self-titled show that would last 30 minutes, and that "Tonight" would move to 12:05 a.m. O'Brien, however, spoke out against the plans, citing the decades old history of "Tonight" in its current timeslot, and how moving it would be the worst move NBC could make.

The network, however, has seemed from the start to be more interested in keeping Leno around than O'Brien, who has not done well in ratings since taking over as host, fueled a bit by a weak lead-in caused by Leno's primetime show, and his newness to the timeslot.

NBC denies a deal giving Leno back "Tonight" has been struck, according to The Hollywood Reporter.

One thing the network is talking about is what will fill its 10 p.m. schedule once Leno is dumped from it. On Thursday, NBC said it would run new shows such as "Parenthood," "The Marriage Ref" with Jerry Seinfeld, and a new series from Lisa Kudrow called "Who Do You Think You Are?" It will join longtime powerhouse "Law & Order" and its spinoff "Law & Order: Special Victims Unit."

Matthew Belloni, a writer for The Hollywood Reporter says O'Brien may have the law on his side. Speculating on what details might be in the deal, Belloni says that even if O'Brien doesn't have a specific timeslot clause in his contract, there could be an expectation of when "Tonight" would air based on its long history and what O'Brien agreed to when he decided to stay at the network six years ago.

At the same time, however, Belloni said NBC, like all networks, have the right to schedule shows when they choose, and they have precedent on their side. So there's no telling how a judge might be swayed if this were a matter that ended up in the courts.

To read Belloni's case for O'Brien, click here. To read Belloni's case for NBC, click here.