NEW YORK -- Jimmy Fallon will officially be given the keys to NBC's "Late Night" franchise following Conan O'Brien's exit.

A person close to the negotiations said a news conference is planned for Monday.

All that's left is an official date for NBC's transition: O'Brien moving out West to take over for Jay Leno on the "Tonight" show and Fallon following in the next time slot.

Fallon was a "Saturday Night Live" cast member before leaving for a movie career in 2004. He signed a deal with NBC in 2007.

NBC announced four years ago that O'Brien would replace Leno next year.

While Leno went along with the plan, there are reports he's not eager to leave. NBC Universal is trying to find a job that would satisfy Leno and avoid having him move to ABC or Fox to compete directly against O'Brien.