Reports are just coming in via Variety and the like that Stephen Colbert is being handed the keys to the Late Night castle following David Letterman's upcoming retirement.

While details are still rolling in, the news is that Colbert will not play his crazy right-wing character from Comedy Central's The Colbert Report, but a more normal, talk show host-y kinda guy.

Considering that Colbert skews younger than the likes of Craig Ferguson, it's no wonder that CBS went with him to compete with Kimmel, Conan, and Fallon.

Colbert has offered up the following gracious statement: "Simply being a guest on David Letterman’s show has been a highlight of my career. I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave’s lead.”

Well put, Steve.