Now Entertainment Weekly is jumping into the fray with its own report saying there is no deal yet to firm up late-night on NBC, but there could be one this weekend.

"We would like to see it resolved by the weekend," a source told the magazine. "It's possible."

The idea is to put Leno back at his "Tonight Show" helm and allow O'Brien to leave NBC. However, the network is looking to give the current "Tonight" host a big enough payoff to convince him to sign a non-compete. That would prevent O'Brien from immediately jumping to another network, like to Fox.

"The whole point of a settlement is to negotiate a way out -- a way that Conan can, over time, still perform and earn his living -- and NBC is comfortable with the decision they are making," the source said. "It's all part of a negotiation."

With so many different rumors floating around, it's hard to pick apart what might be true and what might not be true. But all the rumors have a common theme: Leno will take over "Tonight" and O'Brien will end his 17-year tenure at NBC, and he'll do it without collecting the reported $40 million penalty because NBC maintains it has the right to cancel or move the show, or replace its host, and that it does not violate the contract.