Seth Meyers has been named the new Saturday Night Live "Weekend Update" coanchor, replacing the departing Tina Fey. Meyers will join returning SNL cast member Amy Poehler.
Meyers joined the show in 2001 and last season rose to head writer position alongside Fey. Meyers will continue in that role, with Paula Pell and Andrew Steele joining him as co-head writers.
SNL executive producer Lorne Michaels said he chose Meyers because he and Poehler have good chemistry in the recurring sketch "The Needlers," about a couple who should have long ago divorced.
In addition to Fey and Rachel Dratch--both heading to Fey's new NBC sitcom 30 Rock--three other SNL cast members won't be coming back this season. Finesse Mitchell, Horatio Sanz, and Chris Parnell were given pink slips earlier this week.
Michaels said budget cuts at NBC were responsible.
"The budget is significantly less than last year. [There are] massive budget cuts this season. I think it's probably companywide at NBC," Michaels told reporters in August. "I made the decision to stick with the 20 shows and cut everything back."
SNL returns with its 32nd season premiere September 30, with Dane Cook hosting and musical guests the Killers performing.