Voila_Capture 2014-04-10_12-42-30_PM

That’s Stephen Colbert, just over a month ago, welcoming Jimmy Fallon, now his biggest enemy on Earth, to 11:30.

CBS announced today that Colbert will replace David Letterman on The Late Show:

The CBS Television Network today announced that Stephen Colbert, the host, writer and executive producer of the Emmy and Peabody Award-winning “The Colbert Report,” will succeed David Letterman as the host of THE LATE SHOW, effective when Mr. Letterman retires from the broadcast. The five-year agreement between CBS and Colbert was announced by Leslie Moonves, President and CEO, CBS Corporation, and Nina Tassler, Chairman of CBS Entertainment.

Letterman, the legendary, critically acclaimed host of the CBS late night series for 21 years, announced his retirement on his April 3 broadcast. Colbert’s premiere date as host of THE LATE SHOW will be announced after Mr. Lettermen determines a timetable for his final broadcasts in 2015.

Awesome. Love this move. Colbert and Fallon as Tonight and Late show hosts – joining Jimmy Kimmel at 11:30 – signals a changing of the guard in TV. Both rose to stardom with (hate this term) Millennials as a major part of their demographic and fan base. Fallon has been crushing it in the ratings, so it makes sense that CBS would go for someone like Colbert, who appeals to a much younger audience, even if he will be over 50 when he takes over. Good stuff.

UPDATE: Here’s a chart from FiveThirtyEight:

Screen Shot 2014-04-10 at 2.15.14 PM

Tells you all you need to know