It’s official - Stephen Colbert will be replacing David Letterman as CBS’ Late Show host.

CBS has chosen the Comedy Central host to take over the late-night franchise when Letterman retires in 2015.

The network made a five-year deal with Colbert. It was announced Thursday by CBS CEO Les Moonves and CBS Entertainment chairman Nina Tassler.

Currently Letterman is the longest-serving late-night TV host currently on the air. He announced his retirement on April 3rd. Colbert’s premiere date will be announced after Letterman decides upon a timetable for his final broadcast in 2015.

There have been rumors swirling about possible replacements for Letterman since he announced his retirement including Chelsea Handler and Neil Patrick Harris.