After 16 years as host of The Daily Show, Jon Stewart announced at a live-taping on Tuesday that he would be retiring from the show, The A.V. Club reports. In a statement to Entertainment Weekly, Comedy Central president Michele Ganeless said that Stewart will stay with The Daily Show "until later this year":

For the better part of the last two decades, I have had the incredible honor and privilege of working with Jon Stewart. His comedic brilliance is second to none. Jon has been at the heart of Comedy Central, championing and nurturing the best talent in the industry, in front of and behind the camera. Through his unique voice and vision,The Daily Show has become a cultural touchstone for millions of fans and an unparalleled platform for political comedy that will endure for years to come. Jon will remain at the helm of The Daily Show until later this year. He is a comic genius, generous with his time and talent, and will always be a part of the Comedy Central family.

Calling The Daily Show "a cultural touchstone" that will "endure for years to come," Ganeless' statement suggests the network will continue to produce the show after Stewart's retirement.

News of Stewart's announcement first came out via social media through members of The Daily Show's studio audience.

Unsurprisingly, The Daily Show played the news for laughs:

[Image via Comedy Central]