Breaking News: It’s The Late Show With Steven Colbert

According to reports from CBS Steven Colbert will replace David Letterman when Dave retires sometime in 2015.

Well, that was fast! Just one week after David Letterman dropped the 'Late Show' bombshell that he would retire in 2015, his replacement has officially been announced. Stephen Colbert will officially leave behind Comedy Central's Colbert Report to ascend the late-night throne as the new host of CBS' 'The Late Show.'

Colbert had been rumored as the frontrunner, but no one quite expected CBS to make an official confirmation this quickly. Even with Letterman's April 3 announcement, no exact 2015 date for Colbert's takeover has yet been confirmed

Here's CBS' press release on the matter:

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.
“Stephen is a multi-talented and respected host, writer, producer, satirist and comedian who blazes a trail of thought-provoking conversation, humor and innovation with everything he touches,” said Tassler. ”He is a presence on every stage, with interests and notable accomplishments across a wide spectrum of entertainment, politics, publishing and music. We welcome Stephen to CBS with great pride and excitement, and look forward to introducing him to our network television viewers in late night.”

“Simply being a guest on David Letterman’s show has been a highlight of my career,” said Colbert. “I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave’s lead.”

Adding, “I’m thrilled and grateful that CBS chose me. Now, if you’ll excuse me, I have to go grind a gap in my front teeth.”

I am not surprised that CBS chose Colbert to take over for Letterman, (he's been the front runner for awhile) but I am a little surprised by the quick decision especially since Colbert is more of a political satirist and comedian.

This does however set up an interesting scenario, how well will Colbert's left wing comedy fare on this type of a show, and will that just add to the lead that Jimmy Fallon already has in the Late Night wars.

What do you think? Is Stephen Colbert a worthy successor to David Letterman for 'The Late Show?' Tell us in the comments below!