After Letterman: What's Next for Late Night?

When David Letterman got his first late-night talk show, Johnny Carson was still hosting "The Tonight Show." Since then, Letterman has been a late-night institution on two different networks, while "The Tonight Show" spent another decade in the Carson era and ran through its entire Jay Leno era. In the meantime, we've seen the rise of popular late-night hosts including Conan O'Brien, Jimmy Kimmel and Jimmy Fallon, the new host of "The Tonight Show."

The constant through all of it has been Letterman, so you might be able to understand why the announcement of his retirement next year was such a big deal. Aside from celebrating Letterman's legacy, the biggest issue that the announcement brings up is the question of who will replace him.

Among those who are the least likely to fill Letterman's chair is Craig Ferguson, who now hosts his own show after Letterman's. Other names that are being tossed about but who are almost certainly unwilling to take the job are John Oliver, who just signed a deal for his own HBO show, and Jon Stewart, who is no doubt happy where is on Comedy Central.

A few other potential hosts are much more likely be open to the idea of taking the job. Jimmy Kimmel has said he'd be interested, and Chelsea Handler, who just dropped out of her own show on E!, would no doubt jump at the chance to host the higher-profile show. Neil Patrick Harris is also being mentioned, and he's out of a steady gig since "How I Met Your Mother" ended this week.

Whoever takes the job will have, simultaneously, a tremendous opportunity to hit the big time and some massive expectations to meet.