Fred Armisen Fred Armisen

Saturday Night Live tackled NBC's late-night squabble, using its usual cold opening to present a mock Larry King Live with Jay Leno and Conan O'Brien as guests to discuss how it was a "colossal failure" all around.

"Conan is out. Jay is in. And no one is talking about the greatest talk show of all time, Mr. Joey Bishop," Fred Armisen's King said.

Rep: Conan has been "worried about staff since Day 1"

Zingers abounded with King saying the whole thing stemmed from "a colossal failure" by Leno (played by Darrell Hammond) and "a colossal failure" by O'Brien (played by Bill Hader) in their respective time slots. In between, Leno joshed, and O'Brien sulked.

King — depicted as clueless, Benefiber-loving, and a century-old while wearing Atom Ant/Lew Wasserman glasses — offered a solution: "time machine."

David Letterman (Jason Sudeikis) didn't go unscathed, either. He just threw pencils at the camera and laughed like a hyena.

Later, in a certain serendipitous coincidence — since her father, Sylvester "Pat" Weaver Jr., once headed NBC (1953-55) — Sigourney Weaver came on as host, and she addressed the late-night contretemps by recalling how her dad created The Tonight Show back in the '50s. (She said it's true, and it is. He also created the Today show.)

The 60-year-old actress, currently starring in the megahit James Cameron film Avatar, said she recently found his original memo. "My father wrote that The Tonight Show should be, quote, 'a light entertainment program with comedy and interviews to air at night before people drift off to sleep — because the last thing anyone wants at that time of night is any conflict or controversy.' Dad was a visionary"

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On "Weekend Update," Seth Meyers said with a picture of O'Brien over his shoulder: "This week, you didn't need Cinemax to watch someone get screwed on TV."

He then embarked on a convoluted metaphor about how the late-night situation was like a polygamous marriage — and how it might ultimately affect him.