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CBS has announced that Stephen Colbert is the next host of The Late Show.
Colbert, who we know as the face of Comedy Central, is trading in his comedy gig to be the new face of CBS' late night.
"Colbert is one of the most inventive and respected forces on television," said CBS president and CEO Les Moonves in a statement. "David Letterman's legacy and accomplishments are an incredible source of pride for all of us here, and today's announcement speaks to our commitment of upholding what he established for CBS in late night," he shared.
Moonves also states that Colbert will not be portraying his Comedy Central character.
According to E! Online, Colbert, who signed a five-year contract, was overly excited to share his announcement.
"Simply being a guest on David Letterman's show has been a highlight of my career," said Colbert. "I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave's lead. I'm thrilled and grateful that CBS chose me. Now, if you'll excuse me, I have to go grind a gap in my front teeth."
Letterman, 66, had made his retirement announcement in early April.
"I just want to reiterate my thanks for the support from the network, all of the people who have worked here, all of the people in the theater, all the people on the staff, everybody at home, thank you very much," said Letterman.
CBS News states that Colbert's premiere date will be determined after Letterman settles in his last episodes. New producers, creative elements and a new location for the show will also be determined at a later date.