Exactly one week after David Letterman announced his retirement, CBS President Leslie Moonves and chairman of CBS Entertainment, Nina Tassler, announced that they have signed a five-year agreement with Stephen Colbert to take over the Late Show when Letterman retires next year. Although Colbert is older than other late-night hosts Jimmy Fallon (NBC) and Jimmy Kimmel (ABC), he has the youngest audience. That said, moving to CBS also means abandoning the ultra-conservative Colbert character that made The Colbert Report such a success on Comedy Central. Kim talks with John Horn about how Colbert will change the late night scene.