CBS has confirmed that STEPHEN COLBERT is replacing DAVID LETTERMAN as host of “The Late Show”.

The popular host of Comedy Central’s “The Colbert Report” will be going head to head with his bestie Jimmy Fallon on NBC’s “The Tonight Show”.

It’s a move considered by many as there were few top shelf names big enough to step into Big Dave’s shows and remain competitive with the up-all-night 18-49 key demos.

Colbert signed a five year deal with Les Moonves, the Tiffany Net’s top honcho. 

"I never dreamed that I would follow in his footsteps, though everyone in late night follows Dave's lead," Colbert said via statement.

Colbert has confirmed that he will not be continuing his "conservative character" shtick as host of "The Late Show".

 "I won't be doing the new show in character, so we'll all get to find out how much of him was me. I'm looking forward to it…. " he said.