Play of the Day -- Stephen Colbert in South Carolina? Plus: A tribute to Hostess from Chris Christie

Stephen Colbert on Thursday handed over control of his Super PAC to fellow late-nighter Jon Stewart before announcing that he's exploring a presidential run in South Carolina.

"For over a day now, the people of South Carolina have been crying out for someone who can restore our nation's former greatness to its current perfect," he said. "Well, America, that someone is now."

Don't miss today's Must See Moment at 2:04 when David Letterman presents a tribute to Hostess, which recently filed for Chapter 11 bankruptcy.