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Brian Williams on Stephen Colbert

We learned today the third and final component of a complete change in late night is now in place. Stephen Colbert was named to succeed David Letterman when the veteran steps aside sometime next year.

Colbert is part of the comedy graduating class just behind Dave and along with Jimmy Kimmel on ABC and our own Jimmy Fallon. It will amount to something close to a generational shift after your late local news.

Colbert said today he will host as himself, meaning he will drop the persona he uses to host "The Colbert Report."

He is 49 years old and he signed a five-year deal -- and since CBS and Comedy Central have the same parent company -- it’s not stealing as much as a permanent loan.

Stephen Colbert to Ditch His Right-Wing Pundit Persona 0:40