Have you seen this? Have you heard about this? Apparently Jay Leno has been restored to the Tonight Show host's chair, leaving poor Conan O'Brien - whose Tonight run was admittedly ratings-challenged, but so was Leno's for a long time - out in the cold. So while Leno has been booking guests for his post-Olympics return (watch the promo!), Conan has been left to find ways around that clause in his settlement with NBC that prevents him from appearing on television until September.
Conan's brilliant loophole? Live performance! Reports indicate that O'Brien and his people are finalizing plans to do some kind of comedy show. Details are scarce, obviously, but a logical guess would be that this show will be based on the sketch-and-character-driven portion of his show which was such a large part of what made O'Brien so popular in the first place.
He's also on Twitter now, which should be fun. The bio and his first tweet are great.