Stephen Colbert to replace Letterman

CEBU, Philippines - Stephen Colbert is the next host of  “The Late Show,” CBS announced.

“The Colbert Report” host is trading in his Comedy Central gig to be the new face of CBS’s late night and do battle with Jimmy Fallon and Jimmy Kimmel for late-night television supremacy. Outgoing host David Letterman made his retirement announcement in early April.

“Simply being a guest on David Letterman’s show has been a highlight of my career,” Colbert, 49, said in a statement. “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.”

Colbert’s show won the Emmy for best variety series last year and has earned two Peabody Awards. His deal with CBS is for five years.

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

Producers, the location and other creative elements will be determined at a later date. “Stephen is a multi-talented and respected host, writer, producer, satirist and comedian who blazes a trail of thought-provoking conversation, humor and innovation with everything he touches,” Nina Tassler, chairman of CBS Entertainment, said. “He is a presence on every stage, with interests and notable accomplishments across a wide spectrum of entertainment, politics, publishing and music.” (FREEMAN)