There will be no Los Angeles move for Stephen Colbert. In a bit of news that comes as no surprise, CBS has made official its plans to keep Late Show in New York's Ed Sullivan Theatre when David Letterman hands the show over to his successor.

“We’re thrilled to continue broadcasting CBS’s Late Show from New York and call the Ed Sullivan Theater its home,” said CBS Corp. president and CEO Leslie 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.”

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The timing of Colbert's transition to Late Show is still up the in air, with Letterman departing sometime in 2015, but his last broadcast with Comedy Central's Colbert Report comes in December.

New York Governor Andrew M. Cuomo, who got a boon from NBC moving The Tonight Show to New York earlier this year for Jimmy Fallon, was naturally pleased with the announcement.

“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.”

Though there was some speculation about a possible west coast migration for The Late Show, it seemed unlikely. The Ed Sullivan Theatre is owned by CBS. Per the decision, CBS will be eligible to receive at least $11 million in tax credits over five years. Additionally, CBS will be eligible for up to $5 million in grants to offset renovations at the historic building.

What's not clear is what will happen with The Late Show's lead-out. There are still no formal plans for The Late Late Show once Craig Ferguson departs at year's end. He tapes at CBS TV Studios in Los Angeles.