We now know who will be sitting behind the Late Show desk once David Letterman leaves next year.
In a press release, CBS Entertainment has announced that Comedy Central talk show host Steven Colbert will take over the show when Letterman retires after his current contract expires in 2015.
Colbert's start date hasn't been announced. According to CBS, the debut date will be released when Letterman's exit timeline is confirmed.
"I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave's lead," Colbert said in a statement.
Letterman shocked his fans and the entertainment industry last week when he made the announcement he was stepping down in 2015.
Letterman, 66, was born in Indianapolis, Ind., and attended Ball State University. He rose to fame on NBC’s “Late Night with David Letterman” which debuted in 1982.
In 1992, many fans believed he would become host of the “The Tonight Show” after Johnny Carson retired. However NBC hired Jay Leno and Letterman departed to CBS to start “The Late Show with David Letterman”.
Colbert, 49, joined the cast of Comedy Central’s “The Daily Show” in 1997 before spinning off with his own hit show on the network, “The Colbert Report,” in 2005 on which he portrays a caricatured version of conservative political pundits.
Colbert lives in Montclair, N.J., with his wife, Evelyn McGee-Colbert, and their three children: Madeleine, Peter and John.
Last week, Letterman announced his plans to exit his show and end an unmatched wee-hours run that began in 1992 when he launched "Late Night" on NBC. He jumped to CBS when Jay Leno, not he, won NBC's "The Tonight Show" upon Johnny Carson's retirement. Leno stepped down from "Tonight" in February, replaced by Jimmy Fallon.
The new late night faceoff at 11:35 p.m. will consist of Fallon, CBS' Colbert and ABC's Jimmy Kimmel.
—The Associated Press contributed to this report