Stephen Colbert to Take over 'Late Show'

CBS announced on Thursday that "Colbert Report" host Stephen Colbert will be the next to helm the "Late Show" desk. He'll succeed David Letterman when Letterman retires next year after more than 20 years as the host.

"Stephen Colbert is one of the most inventive and respected forces on television,” Leslie Moonves, president and CEO of CBS, said 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.”

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