Stephen Colbert defended his "mentor" last night for the leaked 20-year-old "we'll do it live!" video of FNC's Bill O'Reilly when he anchored the "Polk Award winning series," Inside Edition. Colbert's take — it was Sting's fault. Then, as a defense of O'Reilly, Colbert played his own video, showing an outburst from his time at WPTS in Patterson Spring, North Carolina. Featuring an off camera cameo from a certain broadcast anchor:



• Related: Gawker compiles the Top Ten Angry On-Camera Meltdowns.

MSNBC carried this afternoon's non-so breaking news conference at which Jimmy Fallon was named the new host of Late Night. Shockingly, FNC & CNN, did not. Next year, date TBD, Fallon takes over for Conan O'Brien who is taking over for Jay Leno, whose future with the network is being worked out.

Steve K. talked with Fallon's SNL pal Seth Meyers for this week's "So What Do You Do?" interview (we'll remind you about it Wednesday.) The current Weekend Update co-anchor tells TVNewser, "I think Jimmy's going to be fantastic. I think it's a great choice. Obviously people know how funny he was on the show, but he was one of the funniest guys in the hallway at SNL."

Meyers also talked about his "fellow anchor" Anderson Cooper. That's after the jump...

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Tuesday night's 7 hour and 20 minute TVNewser live blog touched on a lot of the points discussed by host Jon Stewart during last night's Daily Show opening segment. But setting John King's "Magic Wall" action to music? Out of our realm:

MSNBC's Chris Matthews appeared on The Colbert Report (in his hometown) last night, and received a grilling from Stephen Colbert over who had harder balls. But also, the interview served to reveal two bits of information; Sen. Hillary Clinton will be an upcoming surprise (until Matthews said it) guest on The Colbert Report and Matthews wants to be a senator from Pennsylvania, although he wouldn't commit to running in 2010. "I have to deal with these things as they come," he said:

Jay Leno managed to combine a Hillary Clinton and a Katie Couric joke, and edited some changes to the Evening News set. From Friday's Tonight Show:



• Earlier: TVNewser asks "Who's The Next Anchor of the CBS Evening News?" Poll closes tonight at midnight...

Last night's Daily Show had some fun with The Situation Room's coverage of the torch run through San Francisco on Wednesday. Jon Stewart, who has enjoyed CNN's Wolf Blitzer and The Situation room in the past, broke down the, "hour and forty-two minutes of uninterrupted torch coverage":



The Huffington Post has the video of another segment from last night's show, the ridiculous-even-for-a-comedy-show "documentary" about Fox News.

Kathie Lee Gifford's return to television this week as the co-anchor of the fourth hour of the Today show on NBC has garnered a strong response. On Late Night with Conan O'Brien last night, the host put in his two cents, with a Made-For-TV Movie segment about his new NBC colleague.

After O'Brien introduced the segment, he summed up his crowd's reaction to the news of Gifford's return. "Three people applauding and a lot of boos. That wouldn't depress me," he said. "Anyway, I've had worse."

What followed were his casting choices for many in the morning television news landscape.

Click continued to see which Good Morning America anchor gets played by Courtney Love, who on The Early Show will be represented by Milhouse from The Simpsons and who Sinead O'Connor gets cast as from the Today show (Where in the World has she been?)...

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Last night's Daily Show with Jon Stewart featured a glance at Sen. Barack Obama's recent media tour. Some got snubbed, some got cozy and some were "thrilled" to spend an hour with the candidate...until hearts were broken.

FNC's Geraldo Rivera guested on The Colbert Report last night. The two talked about Lou Dobbs, Michael Jackson and that famous 40-year-old mustache. Halfway through the interview, things turned very Jets vs. Sharks, with no Officer Krupke in sight...



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Some Daily Show ribbing from Jon Stewart last night of his guest, NBC Nightly News anchor Brian Williams. "I've never hosted the Oscars, and you were superb," said Williams. Stewart responded with, "I've never hosted a presidential debate, and.....you did."

Huffington Post's Rachel Sklar breaks down the Bri-Wi interview: