Watch Stephen Colbert and Jon Stewart slyly celebrate Colbert's Late Show promotion

Thursday was a big day for Stephen Colbert, and for his soon-to-be employer CBS (a corporate cousin of sorts to Comedy Central). On Thursday night's Colbert Report, it would have been strange for Colbert to ignore the news that he will replace David Letterman at The Late Show early next year, and awkward to celebrate that his current show has only eight months to live. He threaded the needle by staying in character, paying homage to Letterman, and tacitly acknowledging his promotion to one of the biggest stages in late-night TV.

"I do not envy who they try to put in that chair," Colbert said, to whoops and hollers from the audience. "Those are some huge shoes to fill, and some really big pants."

At The Daily Show, Jon Stewart also raised a toast to the promotion of a comedian whose career he helped launch. In one line that may raise eyebrows at Comedy Central, Stewart cheered that he'll no longer need a cable subscription for the privilege of watching Colbert. Hand that feeds, nibbled? --Peter Weber

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