Jimmy Fallon takes the reins of NBC’s ‘The Tonight Show’ tonight at midnight / 11PM CT

It’s a momentous occasion for late-night television. The Tonight Show Starring Jimmy Fallon — the first Tonight Show in New York for almost 42 years — debuts tonight at midnight (11PM CT) after NBC’s Olympics coverage (post-Olympics, the show will return to its usual 11:35PM time slot).

Fallon is taking over for Jay Leno, who has hosted since Johnny Carson retired in 1992 (barring seven months in 2009 / 2010 when Conan O’Brien was host). Will Smith is The Tonight Show’s first guest, alongside musical guest U2. Other guests this week include Jerry Seinfeld, First Lady Michelle Obama, and Justin Timberlake.

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