By Keach Hagey 

Jon Stewart will retire as the host of Comedy Central's "The Daily Show, " the cable network said, after a 16-year run that helped reshape late-night TV.

In a statement, Comedy Central President Michele Ganeless said Mr. Stewart will remain at the helm of the show until later this year.

"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," she said. "He is a comic genius, generous with his time and talent, and will always be a part of the Comedy Central family."

Mr. Stewart's departure will follow that of Comedy Central's other high-profile late night comic, Stephen Colbert. Mr. Colbert ended his program, "The Colbert Report," late last year and will premiere a late-night talk show on CBS in 2015.

The loss of top talent at Comedy Central poses challenges for the channel's parent, Viacom Inc., which is already trying to rebound from ratings declines at several of its major networks.

Write to Keach Hagey at keach.hagey@wsj.com

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