"It's as if my character on `The Daily Show' got promoted," Colbert told The Associated Press.
He'll be a "very well-intentioned, poorly informed, high-status idiot, not unlike some people who have these shows in the real world," he said.
Besides lampooning O'Reilly, the king of the cable TV opinion shows, he's sending up people such as Sean Hannity, Joe Scarborough and Anderson Cooper, he said.
One segment of his show, "Worthy Opponent," will feature Colbert debating Colbert.
Brilliant expansion of the franchise, or Hello, Larry?