Seth Meyers to Replace Jimmy Fallon as Late Night Host

Late Night with  heads to The Tonight Show, NBC announced Sunday, May 12.

Meyers will take over the 12:35 a.m. time slot sometime next year. The New York-based talk show will have Lorne Michaels as executive producer, who is also the executive producer of SNL.

"I only have to work for Lorne for five more years before I pay him back for the time I totaled his car," Meyers, who has starred on SNL for 12 seasons, joked in a statement to. "12:30 on NBC has long been incredible real estate. I hope I can do it justice."
"We think Seth is one of the brightest, most insightful comedy writers and performers of his generation," said NBC entertainment chairman Bob Greenblatt. "His years at SNL's Weekend Update desk, not to mention being head writer of the show for many seasons, helped him hone a topical brand of comedy that is perfect for the Late Night franchise."

According to , Meyers will continue to appear on SNL until he takes over Late Night. "I don't want to make any broad pronouncements about how the show is going to be, whether it's going to be the same or different," Meyers said of taking over Fallon's show. "But I have to draw on my background in improvisational comedy and sketch comedy and stand-up comedy and try to find some mix of that."
 that Fallon, 38, would be replacing , 63, as the host of The Tonight Show. "Congratulations Jimmy," Leno said in a statement. "I hope you're as lucky as me and hold on to the job until you're the old guy."This article originally appeared on Usmagazine.com: