Stephen Colbert to Replace David Letterman in 2015

Comedy Central's Stephen Colbert has officially been named the new host of THE LATE SHOW, when David Letterman retires in 2015.

The five-year agreement between CBS and Colbert was announced by Leslie Moonves, President and CEO, CBS Corporation, and Nina Tassler, Chairman of CBS Entertainment.

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.

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

“Simply being a guest on David Letterman's show has been a highlight of my career,” said Colbert. “I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave's lead.”

Adding, “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.”

See who we thought were the top 10 candidates for THE LATE SHOW job.

Take our Poll: Who Will You Watch at 11:35pm in 2015?