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You tell me what the moral of this story is.

Remember not so long ago when all sorts of people were saying how sorry NBC was going to be for dumping Conan O'Brien, because no one was ever going to watch Jay Leno again -- and Conan would go to another network (Fox) and be a big, big latenight hit?

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Remember that? I remember, because I wrote lots of blog posts and columns about it including one that said don't bet on Fox making an offer to Conan just yet -- the affiliates have to be won over first.

Well, now comes the news today that Conan will return to latenight in November -- but on TBS. That's basic cable, baby -- narrowcasting for niche audiences, where seldom is heard a seven-figure number when talking about star salaries. Even Conan joked about the arc of his career today.

"In three months I've gone from network television to Twitter to performing live in theaters, and now I'm headed to basic cable.  My plan is working perfectly," O'Brien said in a TBS press release.

Meanwhile, Leno's "Tonight Show" is back in first place beating David Letterman night after night. Oooh, that Leno really got punished for snatching his show back from Conan, didn't he?

Here's, the press releases from TBS:

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