Both The Hollywood Reporter and E! are reporting that sources confirmed to them that the struggling network are planning to announce Leno's retirement.

The Network itself denied the plans to The Hollywood Reporter , but they report that "two high-level industry sources" told them that the network is "moving toward" an announcement in May that Leno will step down after the 2013-14 season.

E! reports that sources have confirmed to them that NBC plan to make the announcement "sometime in the next year."