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Jon Stewart leaving

Jon Stewart, host of Comedy Central's "The Daily Show," will step down later this year, the president of the network confirmed in a statement to the On Media blog Tuesday.

“For the better part of the last two decades, I have had the incredible honor and privilege of working with Jon Stewart. His comedic brilliance is second to none," Michele Ganeless, president of Comedy Central, said in a statement.

"Jon has been at the heart of Comedy Central, championing and nurturing the best talent in the industry, in front of and behind the camera," Ganeless continued. "Through his unique voice and vision, ‘The Daily Show’ has become a cultural touchstone for millions of fans and an unparalleled platform for political comedy that will endure for years to come."

(POLITICO Video: Jon Stewart announces 'Daily Show' departure)

"Jon will remain at the helm of ‘The Daily Show’ until later this year," she wrote. "He is a comic genius, generous with his time and talent, and will always be a part of the Comedy Central family.”

Stewart, who became host of "The Daily Show" in 1999, has had an immeasurable influence on American politics and satire. Under his leadership, "The Daily Show" has also spawned the creation of influential Comedy Central shows like "The Colbert Report" and "The Nightly Show with Larry Wilmore," as well as HBO's "Last Week Tonight with John Oliver."

Stewart also announced his forthcoming departure during Tuesday's taping of "The Daily Show," which airs tonight at 11 p.m. EST.

(POLITICO Video: The career highlights of Jon Stewart)

UPDATE (11:40 p.m.): At the end of Tuesday night's episode of "The Daily Show," Stewart addressed his departure, noting that the show and audience do not deserve "a restless host" and that the specifics of his departure have not been worked out but that it will occur before September:

Doug Herzog and Michele Ganeless gave me an incredible opportunity 17 years ago to pilot this wonderful franchise, and 17 years is the longest I have ever in my life held a job, by 16 years and five months. Thank you. The upshot there being, I am a terrible employee. In my heart, I know it is time for someone else to have that opportunity. ... Not right away, we’re still working out details; I’m up in September, might be December or July. I don’t have a lot of specific plans; I’ve got a lot of ideas, a lot of things in my head. I’m going to have dinner on a school night with my family, who I have heard from multiple sources are lovely people. I’m not going to be here and try to sum up what this place has meant to me over the years. I couldn’t do that, we’ve got plenty of time, and I’ve got myriad of people to thank … but this show doesn’t deserve an even slightly restless host, and neither do you. I don’t think I’m going to miss being on TV every day; I’m going to miss coming here every day. I love the people here, they’re the best, they’re collaborative and they’re kind. … I love them and respect them so much. It’s been an absolute privilege. The honor of my professional life. I thank you for watching it, for hate-watching it, whatever reason you’re turning in for. You get in this business with the idea that maybe you have a point of view and something to express. And to receive feedback from that is the greatest feeling I can ask for, and I thank you.

Hadas Gold contributed to this report.