Stephen Colbert Praises Letterman On "The Colbert Report"

(Undated) -- Stephen Colbert is taking over the "Late Show." While in character Thursday night, Colbert praised longtime "Late Show" host David Letterman and then with a wink and a nod, joked about filling the "Late Show" throne. On Thursday's "Colbert Report," Stephen also recalled how Letterman's stint on late night television began just as he was starting college. Colbert added that he learned more from Letterman than he did from his higher education. While CBS hasn't decided where to film the next incarnation of the "Late Show," Jon Stewart says he can't wait to see a marquee reading the "Late Show With Stephen Colbert."