Comedian Jon StewartIt looks like it may finally be time for Jay Leno to hand over his Late Night Crown after the Daily Show with Jon Stewart edged out the Tonight Show in the highly valued Adult 18 to 49 age demographic for the second quarter of 2011.

It was a surprising turn of events in the Late Night ratings race, with this new development putting an end to the Tonight Show‘s ten year (or 40 quarter) winning streak. Comedy Central’s The Daily Show With Jon Stewart emerged the victor this quarter, with the show averaging 1.295 million viewers while NBC’s Tonight Show with Jay Leno bringing in 1.292 million viewers on average.

However, NBC isn’t ready to concede the position just yet. A spokesperson for the network pointed out that not only did this not take into account ratings for re-runs where the Tonight Show brings in 1.283 million to the 1.167 million the Daily Show averages, but that the Daily Show has only 3000 more viewers in the bracket – hinting that this might be a one-time occurrence.

While that may be the case, it shall soon be presidential campaign season, which could serve to cement Stewart’s position atop the rankings as it is when he and Stephen Colbert, former correspondent for the Daily Show and current host of the Colbert Report, wield their satire with even more deadly accuracy, garnering a higher audience share than usual. This is further supported by Colbert’s recently approved Super PAC (Political Action Committee) or “Americans for a Better Tomorrow, Tomorrow”, which may play a big role in the next election.

While spokespeople for both The Daily Show and the Tonight Show split hairs, ABC comes out the real winner with Nightline attracting an overall of a 1.297 million viewers in the same demographic, proving that the argument may just be for a silver crown – or as it’s better known, second place.

Check out this clip from the Daily Show, courtesy of http://www.thedailyshow.com!