Stephen Colbert to replace Letterman on 'Late Show'

Posted: April 10, 2014 at 11:34 a.m.

This Sept. 23, 2012, file photo shows TV personality Stephen Colbert at the 64th Primetime Emmy Awards Governors Ball in Los Angeles. CBS announced Thursday, April 10, 2014, that Colbert, the host of “The Colbert Report,” will succeed David Letterman as the host of “The Late Show.”

NEW YORK — 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.

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.