July 24, 2014 00:21:48 GMT
CBS has committed its year-round production of the late show to the city's historic building, the Ed Sullivan Theatre.
New York will still be home to the "Late Show" when David Letterman hands it over to his successor, Stephen Colbert. NY governor Andrew M. Cuomo and President and CEO of CBS Corporation Leslie Moonves made the joint announcement on Wednesday, July 23 in a press release.
"We're thrilled to continue broadcasting CBS's Late Show from New York and call the Ed Sullivan Theater its home," said Moonves. "David Letterman has graced this hall and city with comedy and entertainment that defined a generation. When Dave decides to pass the baton next year, we look forward to welcoming Stephen Colbert, one of the most innovative and respected forces on TV, to this storied television theater. I would also like to applaud Gov. Cuomo for all that he has done to keep New York a vibrant and attractive location for all forms of television production. We're excited to be here in late night for many years to come."
Naturally, CBS commits to some 200 New York-based jobs to support the daily program's year-round production schedule. In return, the network will be eligible to receive at least $11 million in tax credits over five years and up to $5 million in grants to offset renovations at the Ed Sullivan Theatre.
"Today, I am pleased to announce that the Late Show will stay in New York, where it belongs," said Cuomo. "New York has long been an international entertainment leader, and with this commitment from CBS we are beginning the next chapter in that proud history. The television and film industries are thriving in the Empire State - creating jobs and fueling dozens of other sectors across the state. Les Moonves and CBS have made the right decision in choosing to continue investing in New York, and as David Letterman passes the baton to Stephen Colbert, I look forward to watching The Late Show from the historic Ed Sullivan Theatre for years to come."
CBS has not set the date of "Late Show with Stephen Colbert", pending Letterman's final broadcast schedule in 2015. Colbert will end his nine-year run on Comedy Central's "The Colbert Report" in December this year.