Two things:

They do. That's part of the reason why Conan's TBS ratings are well behind Stewart/Colbert and even slightly behind Chelsea Handler. However, Conan's online presence is one of the best, if not the best, in all of late night, so they catch those viewers that way, which is why TBS loves Conan's show so much despite…

Here's my problem with Leno and the whole Tonight Show fiasco of 2010 (beyond his lack of comedic ability): He could've just walked away.