"As you probably heard -- it was announced officially today -- that, starting in February of next year -- after the Olympics -- I will take over as new host of The Tonight Show. I spoke to Jay on the phone today. … Excuse me for one moment. [confers with a staffer] OK. Ummm -- apparently it was a different Jimmy. Are you sure? Hold on. OK -- turns out, I will not be hosting The Tonight Show. Does anyone know what the return policy is on yachts?"
"Hello! Welcome! This is Late Night With Jimmy Fallon -- for now," he said. "You guys probably heard the news -- I'm going to be taking over The Tonight Show next February! But don't worry. Until February, our focus is right here on whatever this show is called."
And Conan kept it classy by opting to send a quick congratulations to Jimmy Fallon: