Seth Meyers is trading in the "Weekend Update" desk to succeed fellow Saturday Night Live alum Jimmy Fallon over at Late Night, reports Entertainment Weekly. “We think Seth is one of the brightest, most insightful comedy writers and performers of his generation,” says NBC's entertainment chief. The switch takes place next year when Fallon succeeds Jay Leno at the Tonight Show. “I only have to work for Lorne for five more years before I pay him back for the time I totaled his car,” joked Meyers in a statement. “12:30 on NBC has long been incredible real estate. I hope I can do it justice.” Meyers had long been rumored the frontrunner for the job.