VIDEO: Saturday Night Live Takes On Late Night Wars

Jan. 17 2010, Published 1:20 p.m. ET

You knew it was coming. Saturday Night Live gave the NBC late night fracas its own irreverent take with a bit featuring Larry King interviewing Jay Leno and Conan O'Brien.

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Darrell Hammond had Jay down pat, Bill Haber nailed Conan, and Fred Armisen was LOL as Larry King as he tried, unsuccessfully, to get them both to admit they were "failures."

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In something closer to real life, NBC has already announced that Jay is returning to his old 11:35 pm time slot in March. The network is expected to announce Sunday how it is resolving the Conan situation.