Colbert gives super PAC to Stewart, may seek presidency

On last night's very special edition of The Colbert Report, Stephen welcomed two special guests ahead of a major announcement regarding his surge in a recent South Carolina presidential poll.

But, because it is illegal for a candidate to run for office and coordinate with with super PACs supporting them, Colbert had to make a minor adjustment, for legal reasons. With the help of attorney Trevor Potter and The Daily Show host Jon Stewart, Colbert transfered control of the his super PAC to Stewart.

According to a press release issued today and signed by Stewart (via Anthony DeRosa), the PAC has been reborn as "The Definitely Not Coordinating with Stephen Colbert Super PAC."

And then Stephen announced the formation of his exploratory committee to run for President of the United States of South Carolina.

(Unfortunately for Colbert fans, the South Carolina GOP presidential primary had a filing deadline of November 1 -- meaning this is just a gag meant to satirize the silliness of the Supreme Court's Citizens United ruling, which equates corporate money with free speech.)

Watch the clips, embedded via Comedy Central, below:

Part Two: