On Sunday NBC confirmed that Seth Meyers will replace Jimmy Fallon on the "Late Night" show. The replacement will take place following Fallon's transition to the "Tonight" show where he will be replacing Jay Leno.

Seth Meyers is currently Saturday Night Live's head writer and "Weekend Update" skit anchor. The comedian "will transition to the talk show when Fallon takes over Tonight from Jay Leno in late February, after NBC's Winter Olympics from Sochi, Russia. "Late Night" will remain based in New York," according to USA Today.

NBC Entertainment chairman Robert Greenbatt said, "We think Seth is one of the brightest, most insightful comedy writers and performers of his generation."

NBC executives believe that Meyers' 12 seasons on SNL "helped him hone a topical brand of comedy that is perfect for the" Late Night" franchise."

According to ABC News Meyers was considered the lead candidate for the "Late Night" job ever since Fallon's promotion was announced.

"The announcement solidifies Lorne Michaels as the comedy kingmaker at NBC. He'll be the executive in charge of "Late Night," ''Tonight" and "Saturday Night Live."

The late-night show began with host David Letterman in 1982, and it has since had hosts Conan O'Brien and Fallon.

Following his confirmation for the show Meyers said, "I only have to work for Lorne for five more years before I pay him back for the time I totaled his car."

He went on to say, "12:30 on NBC has long been incredible real estate. I hope I can do it justice."