According to the Hollywood Reporter, CBS has officially announced its plans to keep the Late Show in New York's Ed Sullivan Theatre, after David Letterman hands it off to Stephen Colbert in 2015.

Although there was some speculation—or, probably more accurately, unnecessary worrying—that the show would move to LA under Colbert's reign, it never seemed particularly likely. CBS Corp. president and CEO Leslie Moonves calmed that fear today in a statement about the show's future:

"We're thrilled to continue broadcasting CBS's Late Show from New York and call the Ed Sullivan Theater its home. 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."

The Hollywood Reporter reports that, with this decision, CBS 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 of the theatre. New York Governor Andrew M. Cuomo also issued a statement about Late Show staying in the city:

"Today, I am pleased to announce that the Late Show will stay in New York, where it belongs. 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."

[image via Getty]