Stephen Colbert Replacing David Letterman on the Late Show

The new face of the CBS's Late Show will be Stephen Colbert. CBS announced that Stephen Colbert will take over the show, when David Letterman retires next year.

Colbert has hosted the Colbert Report on Comedy Central since 2005. Before that he was a correspondent on the Daily Show with Jon Stewart.

Letterman announced his retirement last week.

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