Comedy Central Extends Contracts With Jon Stewart and Stephen Colbert

Comedy Central has extended contracts with Jon Stewart and Stephen Colbert, the network announced Wednesday.

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The new deals keep Stewart at the helm of The Daily Show – where he is host, executive producer and writer – through the middle of 2015. Colbert’s new deal to continue as executive producer, writer and host of The Colbert Report, extends through the end of 2014.

The Daily Show and Colbert Report are central to the identity of Comedy Central. The Daily Show is the top-rated late night show among the younger viewers advertisers covet, averaging 1.4 million viewers in the 18-49 demographic. Stewart's skewering of the frequent absurdities of television news have earned him a large and devoted following among the politically disaffected and stature as one of the most-trusted "news" personalities on television. The show has won nine consecutive Emmys for outstanding variety, music or comedy series. And this year again scored multiple Emmy noms including one for variety program.

Colbert, who attempted to run for president in 2008, last year formed his own Super PAC - Americans for a Better Tomorrow, Tomorrow. The PAC, which raised $1.02 million in 2011, according to a January 2012 FEC filing, was a naked attempt to raise awareness about the anonymity of Super PACS. In January, Colbert handed control of his Super PAC to Stewart. 

Though Daniel Tosh’s Tosh.0 is Comedy Central’s highest rated show, both Stewart and Colbert have posted year-over-year ratings gains in the demo. And the new deals come as both shows have already ramped up this season's Indecision 2012 presidential election coverage.