The word is that Stephen Colbert is signing a new deal that will make him David Letterman's replacement when Dave retires in 2015.

The official press release talks about how talented everyone is and how they wish nothing but the best for Letterman.

Here's the bottom line, this was a great move on everyone's part.

Stephen Colbert has the same dry wit as Dave, but is more politically slanted, so he's not just another laughing head interviewing Johnny Depp.

Way to go Stephen and way to go Dave.

Late night just got better, or at least didn't get any worse.

Here's Stephen interviewing Paul McCartney.