According to the venerable New York Times, Jay Leno is tanking at 9:00, so the network is punishing Conan O’Brien and Jimmy Fallon.

The network has a plan in the works to restore Jay Leno to his old spot at 11:35 [10:35 CT] each weeknight for a half-hour, while pushing the man who replaced him, Conan O’Brien, to a starting time of 12:05 a.m. [11:05 p.m. CT] Mr. O’Brien would then have a full hour. […] The third NBC late-night star, Jimmy Fallon, has shown some promising ratings with younger viewers. He would then begin his show at 1:05 a.m. [12:05 a.m. CT], the executives said.

Conan’s show would still be called “The Tonight Show,” thus avoiding a breach-of-contract penalty for NBC. The stupidest thing is their reasoning:

Mr. O’Brien, meanwhile, has had his ratings suffer on “The Tonight Show.” He has trailed the “Late Night With David Letterman” on CBS by about two million viewers a night; Mr. Leno had easily been the winner in that time period previously.

Well, it’s amazing what 15 years does for your ratings. A better comparison would be to see how well Leno did his first year on the job. Answer: third place — behind Letterman and Nightline. This is a knee-jerk reaction to top all knee-jerk reactions, and will result in even more viewers being lost.