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Stephen Colbert To Replace Letterman On Late Show

(Photo credit: NICHOLAS KAMM/AFP/Getty Images)

(Photo credit: NICHOLAS KAMM/AFP/Getty Images)

NEW YORK (KDKA/AP) – Stephen Colbert is replacing David Letterman as CBS’ late-night host.

CBS announced Thursday that “The Colbert Report” host will replace Letterman when he retires next year. Colbert is signed for five years.

Letterman has hosted “Late Show with David Letterman” since 1993. He turns 67 Saturday.

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

Colbert says in a statement: “I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave’s lead.”

Comedy Central’s Emmy-winning “The Colbert Report” has been a hit since its launch in 2005.

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(TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)