Stephan Colbert struck a 5 year deal to take over for David Letterman when he retires in 2015.

Colbert was rumored to have been in talks with CBS before Letterman's announcement, maybe because perhaps CBS knew Letterman was thinking about retiring and it just so happens that Colbert's Comedy Central contract is up at the end of 2014.

For more info, listen to Prof. Bob Thompson, a TV expert, discuss on 570 WSYR if he thinks Colbert will be a big hit.

Also, check out this old clip of Stephan Colbert appearing on The Late Show back in 2010.