What NBC will probably do... knowing their track record

In all honesty this is what they're gonna do because they haven't really been making any good decisions lately. Carson Daily being there only drives that point home.

My favorite theory

What better way could NBC make Dru Johnston happy than air Carl Sagan's series "Cosmos" on repeat over and over and over again. Conan O'Brien could be in charge of making the commercials, but they wouldn't have to be for anything... it could just be Conan O'Brien fucking around... that's good advertising. And that's good Television.

This has proven to make 50% of all households with Dru Johnston in them happy. (There is supposedly another Dru Johnston in some middle America state that probably would not like this).

Give Leno back The Tonight Show

Another common theory is that Jay Leno will regain his post at The Tonight Show, Conan will then probably quit and look to other networks in favor of the 3:30 AM slot they were going to offer him selling SlapChop, and Jimmy Fallon would be unchanged.

Also, in this scenario we follow a very characteristic move of NBC which is to just constantly replay and replay the show that's giving them the most credit. And let's be real... it's much much easier to do this than to create any kind of new original programming. Everyone is just watching NBC waiting for The Office to come on anyway.

The most common theory

This is the most common theory floating around. Jay's show would get cancelled, and a new Jay Leno show would move to 11:30 but only be a half hour long... Conan and Jimmy would get pushed back... and some drama show would fit in the 10 PM Slot.

This helps Jay Leno get what he wants (Jay supposedly is unable to get or maintain an erection if his show is not at 11:30) and let NBC make some fun new NBC Drama show. I hope it has something to do with time travel, mistaken identities and/or talking possums. Really I just want there to be a drama called "Possibly Possums" that incorporates all three.