Jon Stewart, Stephen Colbert Now Contractually Obligated to Make Fun of 2012 Presidential Elections

Good news for fans of satirical news shows starring Jon Stewart and/or Stephen Colbert: Comedy Central have signed the two through the 2012 presidential election. But what about... [frightening music] The Conan O'Brien Factor?

Comedy Central is not worried about the fact that Conan O'Brien is now competing directly with Stewart and Colbert late at night. One exec told the New York Times: "Jon and Stephen do something different from what Conan Does."

This is true. If anything, Conan O'Brien is the one who should be worried. Probably as urgent as comedy gets, The Daily Show and The Colbert Report won't bleed viewers easily. And the last time a Late Night host tried to emulate the earlier time-slot success of Colbert and Stewart, well, everyone knows how that ended up.