CBS has named Stephen Colbert as new host of the "Late Show," effective when David Letterman retires.
Colbert inked a five-year deal with CBS. Letterman announced his pending 2015 retirement on April 3.
Photos: Late-night hosts
Specific creative elements, as well as the producers and the location for the Colbert-hosted "Late Show," will be determined and announced at a later date, CBS said.
"Stephen Colbert is one of the most inventive and respected forces on television," President and CEO of CBS Corporation Leslie Moonves 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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Stephen Colbert named new host of CBS 'Late Show' - MSN TV News