UPDATE: The New York Times claims Leno will move to 11:35 PM with O’Brien starting at 12:05 AM.

Has NBC already given up on its primetime experiment? Although no one could blame the network for canceling The Jay Leno Show given its dismal numbers and valuable time slot, a report made today may have been a bit premature.

According to industry blog FTVLive.com, NBC had already decided to “pull the plug on Leno,” it just wasn’t known when the cut would be made. But a statement released by the network leads us to believe that execs are willing to hold out…at least, for a little while longer.

“Jay Leno is one of the most compelling entertainers in the world today. As we have said all along, Jay’s show has performed exactly as we anticipated on the network. It has, however, presented some issues for our affiliates. Both Jay and the show are committed to working closely with them to find ways to improve the performance.”

So what do you of think of the wording? Do you give Jay another few days, weeks or months?