Stephen Colbert to replace Letterman on late show

April 11, 2014 

TV Stephen Colbert

FILE - This Aug. 10, 2012 file photo shows Stephen Colbert, host of "The Colbert Report," onstage during StePhest Colbchella '012 Rocktaugustfest at the Intrepid Sea, Air & Space Museum in New York. CBS announced Thursday, April 10, 2014, Colbert will succeed David Letterman as the host of ìThe Late Show.î (Photo by Jason DeCrow/Invision/AP, File)

JASON DECROW — JASON DECROW/INVISION/AP

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.

-- Associated Press

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