Stephen Colbert to take over the reins of CBS' The Late Show

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.

New York Governor Andrew Cuomo released a statement shortly after the announcement, saying with Colbert chosen as Letterman's replacement, the "Late Show" should stay in New York. Here is the full text of Cuomo's statement:

"With East Coast based host Stephen Colbert taking the reins of the â??Late Show,â?? itâ??s clear we should keep the show where it belongs â?? here in New York. I am calling CBS President and Chief Executive Officer Les Moonves and urging that CBS continue the "Late Show's" history of filming in New York's own legendary Ed Sullivan Theater. Our state is a top destination for entertainment businesses to thrive and grow, creating jobs and economic opportunities for communities across the State, and late night programs are a major part of that success. We must ensure that the "Late Show's" long and proud history of making the nation laugh from New York continues for years to come."

Many people are interested to see what form the "Late Show" will take, and if Colbert will drop his conservative character. What do you think about the changing face of late night talk shows? Should Colbert continue to bring "truthiness" to late night TV?

(Information from the Associated Press was used in this article)