NBC today confirmed that Jimmy Fallon is taking over The Tonight Show from Jay Leno in 2014, ending months of rumors in a deal that was (according to Variety) brokered by Comcast exec and NBCUniversal president Steve Burke.

Leno will retire following a 22-year run, while Fallon's reign will begin, Variety hears, following the Sochi, Russia, Winter Olympics coverage on NBC and its sister TV networks.

A hint that a deal had been struck came earlier this week with the release of a video between the two late-night comics, which Leno and Fallon tweeted and NBC promoted online.Continue reading...

The bloom quickly fell off Friday's Facebook IPO, as the wildly overhyped public debut staged by the social media giant and its bankers are now being sued by shareholders for concealing weakened growth forecasts prior to the $16 billion offering.

According to Reuters, defendants including Facebook CEO Mark Zuckerberg and Morgan Stanley were cited as hiding “a severe and pronounced reduction” in revenue forecasts during the IPO marketing process. Two lawsuits have been filed, one in U.S. District Court in Manhattan and the other in a California state court. The New York filing said lowered business forecasts were “selectively disclosed by defendants to certain preferred investors” and not to the general public.

While everyone knew there would be post-IPO challenges, Wall Street and Silicon Valley have been stunned as Facebook shares fell 18.4% from the $38 IPO price in the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9 billion.Continue reading...

ABC edges out NBC in the morning.

AOL pushes to grab TV-ad dollars.

Apple loses luster on its shares.

Audi set to buy Ducati, Bloomberg reports.

BlackBerry store sits as quiet marker of RIM failed strategy.

Coca-Cola profit beats estimates.

Coty says it has lined up capital for Avon bid.Continue reading...

Apple grapples with Foxconn labor audit.

BP says Gulf oil spill was smaller than claimed.

Best Buy reboots big-box format.

BlackBerry owner RIM sees former co-CEO depart amid $125 million loss, trims exec staff, and explores strategic options including sale of Canada's troubled smartphone-maker.

Burger King sells 278 restaurants to biggest franchisee; tests new menu items; cedes U.S. crown to Wendy's; and brings lamb burgers to the U.K.

CBS and Turner boost digital ad sales through March Madness.

Chrysler unveils new spots to follow Super Bowl's "Halftime in America" commercial with Clint Eastwood.

Daimler and BYD announce Denza, a new EV auto brand for China.Continue reading...

With conference tournaments dominating this week in men's college basketball, it means that official March Madness is just around the corner. And when the NCAA men's tournament begins next week, brands are going to be more ready than ever to take advantage. That's because March Madness has become a multifaceted, extended marketing "season" much as the NFL Super Bowl represents earlier each year.

In fact, in some ways, March Madness arguably has become an even more effective tentpole marketing platform than the Super Bowl.Continue reading...

It's not exactly Coke vs. Pepsi, or Chevy vs. Ford, but the intensifying battle of the gas-pump TV networks just got a little more interesting.

Outcast just signed an exclusive deal with Fox News Channel to distribute its programming to more than 13,000 screens at gas station in 130 U.S. markets via its PumpTop TV network. Its rival, Gas Station TV (GSTV), has been adding branded content as well, including news reports from Bloomberg TV.

In the distribution battle to win valuable eyeball-level distribution via gas stations, expect more exclusive programming deals with big media brands as the duelling "networks" spread across America. It's also good news for brand marketers, expanding the quality of "place-based" or out-of-home opportunities to reach drivers.Continue reading...

Today, 24-hour news network CNN unveiled new branding for 2012 political campaign coverage. CNN's new motto states that its political coverage makes it "America's Choice 2012," a tagline that "reflects our commitment to helping American voters make that choice."

CNN is not joking. But Jon Stewart was when The Daily Show used the exact same branding in 2008.Continue reading...

Apple wins reversal of $625.5 million patent-infringement verdict.

Boeing says it was surprised by cracks in 737s.

CBS and Turner TV ratings for NCAA Final Four tourney dip from last year.

Cisco braces for "activist siege."

Discovery-owned Science Channel rebrands to Science.

Facebook scores Obama town hall.

Lady Gaga's country version of Born This Way benefits gay youths.

Satyam and former auditor PricewaterhouseCoopers will pay $17.5 million to settle US fraud suit.