According to CBS News, Stephen Colbert, the host, writer and executive producer of the Emmy and Peabody Award-winning "The Colbert Report," will succeed David Letterman as the host of "The Late Show," when David Letterman retires.

CBS Chairman and CEO Les Moonves made this statement,

Stephen Colbert is one of the most inventive and respected forces on television. 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.

I was close. Right channel, wrong guy. I picked Jon Stewart from Comedy Central's "The Daily Show" as frontrunner. It doesn't matter. Steven Colbert is just as funny.