Jay Leno and Jimmy Fallon joke about 'Tonight Show' replacement rumors on their respective shows

There’s been a lot of talk about Jimmy Fallon replacing Jay Leno on The Tonight Show by 2014, and Leno addressed those rumors on the show on Thursday night.

In his monologue, the 62-year-old late night host compared the rumors to March Madness.

“Are you all excited about March Madness?" he asked, E! Online reports. "Are you all into March Madness? People are talking about who's in, who's out, who's gonna be eliminated. And that's just here at NBC. I've never been in the paper this much. It's fantastic."

On Wednesday, Fallon joked about the rumors, comparing it to ABC’s Splash.

"The rumors are true…NBC is turning the Tonight Show into a diving competition,” he quipped.

There have been no official announcements about a switch-up at NBC, but The Hollywood Reporter writes that NBC Entertainment chief Robert Greenblatt took Leno out to dinner on Thursday night to discuss his future with the network and the show.

When CNN’s Jake Tapper asked ABC host, Jimmy Kimmel, about his move to 11:35pm being a step in pushing out Leno, he answered, “… obviously, NBC is looking to move on, because they did it once already. This would be the second time that this has happened. So, I mean, it makes perfect sense."