Great choice CBS - from John @

Comedy Central's "Colbert Report" host Stephen Colbert has just been named David Letterman's successor on CBS' "Late Show."

The network just tweeted the news: " Stephen Colbert to be next host of "The Late Show."

Colbert signed a 5-year agreement, starting when Letterman retires next year.

Read the official press release from CBS below:

The CBS Television Network today announced that 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, effective when Mr. Letterman retires from the broadcast. 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.