Saturday Night Live creator and head honcho Lorne Michaels is "gutting" the cast of the iconic satire show – which has been a launching pad for superstars including Eddie Murphy , Bill Murray , Tina Fey , Will Ferrell and Chris Rock – in a seemingly desperate move to save it amid buzz that all late-night shows are on the chopping block, RadarOnline.com can reveal.

80-year-old Michaels, who's run the skit show all but five years of its five decades, gave a gloomy warning of a "significant shake-up" where "several current cast members [of the current 17] are expected to exit" before season 51 premieres on October 4. Article continues below advertisement

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