You may have heard the rumors, now we know it's true. Yesterday NBC confirmed that Saturday Night Live writer and Weekend Update anchor Seth Meyers will take over as host of Late Night once Jimmy Fallon moves to The Tonight Show.

Just like Fallon’s show, Late Night will be produced by SNL man in command Lorne Michaels. Seth Meyers says "I only have to work for Lorne for five more years before I pay him back for the time I totaled his car. 12:30 on NBC has long been incredible real estate. I hope I can do it justice."