Stephen Colbert Transfers Super PAC to Jon Stewart Freeing Himself Up For a Presidential Run (Video)

10:25 PM PST 1/12/2012 by Tina Daunt

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Scott Gries/Picturegroup/Comedy Central

The Comedy Central comedians performed a passing of power as the "Colbert Report" host announced he is forming an exploratory committee to possibly enter the 2012 race.

Bolstered by a poll that placed him ahead of Jon Huntsman in South Carolina, Stephen Colbert hinted Thursday evening that he's considering another run for president.

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During his show The Colbert Report, the talk show host officially transferred control of his super PAC -- called "Americans for a Better Tomorrow, Tomorrow" -- to Comedy Central colleague Jon Stewart, who appeared on the program to go along with the joke.

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The move legally paves the way for Colbert to enter the Republican presidential primary in his home state of South Carolina. His lawyer, Trevor Potter, explained on the show: "You cannot be a candidate and run a super PAC. That would be coordinating with yourself."

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With Stewart now at the helm of the super PAC, renamed "The Definitely Not Coordinated with Stephen Colbert Super PAC," the coy Colbert informed his audience that he was forming "an exploratory committee to lay the groundwork for my possible candidacy for the president of the United States of South Carolina."

Colbert, who ran for president as a spoof in 2008, began publicly toying with the idea of entering the 2012 race on Tuesday, when a Public Policy Polling survey found that he was polling ahead of former Utah Gov. Huntsman in South Carolina. According to the survey, Colbert has 5% of the vote and Huntsman has 4%.

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On Wednesday, he told his audience that he would think about joining the race because "my heart always leads me to me!” And, "I am so not Mitt!” But first, he said, he would “go home, sit down and talk it over with my money.”

Watch the announcement and power transfer below