It gave us Eddie Murphy, Chevy Chase, Bill Murray and more. But as the sketch show turns 50 with an all-star special, who’s laughing now?

In a feast of special programming, NBC is celebrating the 50th anniversary of “Saturday Night Live” this weekend.

SNL alums have formed a who’s who of comedy through five generations, from Chase, Belushi Radner, and Aykroyd to Eddie Murphy ...