Broadcastingcable.com is reporting that Jimmy Fallon, who because famous as a member of the Saturday Night Live troupe, may be in line to replace Conan O'Brien when (and if) Conan takes over General Electric Company's (NYSE:GE) NBC's Tonight show in 2009.

Fallon pulled time behind the desk during the faux-news segment on SNL. He has also launched a film career, with parts in Taxi, Fever Pitch, and I Dream of Jeannie. O'Brien's 12:30 p.m. slot on NBC will be available after the already announced transition takes place when Jay Leno retires in 2009.

However, keep in mind this is television, where nothing is set in stone except that rating determines everything. If I were O'Brien, I wouldn't order any business cards until I saw the graphics hit the screen with my name on it.

What works for a smaller audience at 12:30 p.m. may not transition to the 11:30 slot. The audience is notably fickle; ask Magic Johnson and Arsenio Hall. Despite their commitment, NBC would be foolish to not consider other candidates that may bring more potential for audience (and ad sales). My dark horse candidate? Jon Stewart. Great audience appeal, smaller network, ergo smaller salary. He might be interested in advancement. Or Ellen Degeneres, who has proven herself in her daytime gig.

In the next two years, other stars will also wax and wane, and the other networks won't sit quietly by. When Leno signs off, look for ABC, CBS and perhaps Fox to go after his audience like dogs to a pork chop.

Conan might note that no Vice-president has successfully run for President in over 40 years.