Johnny Carson – the man who defined the Tonight show – is nearing retirement. But NBC has yet to settle on an heir. And that sets the stage for one of the most painful moments for the late night rivals battling for the throne. It will prove enormously embarrassing for Carson, Leno and Letterman. And they will vent their sentiments on stage. Meanwhile, Arensio Hall, a young, black comedian, is blowing past all of them, and posing the first serious challenge to Carson. Pre-order our new book The Art of Business Wars now before it is released on April 13. Listen to new episodes 1 week early and to all episodes ad free with Wondery+. Join Wondery+ for exclusives, binges, early access, and ad free listening. Available in the Wondery App https://wondery.app.link/businesswars. Support us by supporting our sponsors! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CBS makes David Letterman a very attractive offer to leave NBC—a move he’s very willing to make—but his long-time network is desperate to keep him. So desperate they dangle the prize that Letterman felt he deserved all along—the Tonight Show.  That doesn’t sit well with Tonight host Jay Leno, who takes a major defensive stance to hang on to the position he worked so hard to get.  And in the wake of the Letterman struggle, an unknown talent emerges into the late night stratosphere—Conan O’Brien. He brings a unique, fresh appeal and his own set of rules as the networks battle for ratings, and audiences get finicky. Pre-order our new book The Art of Business Wars now before it is released on April 13. Listen to new episodes 1 week early and to all episodes ad free with Wondery+. Join Wondery+ for exclusives, binges, early access, and ad free listening. Available in the Wondery App https://wondery.app.link/businesswars. Support us by supporting our sponsors! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.