By Isabella Biedenharn
Updated April 02, 2015 at 03:20 PM EDT
Credit: Jamie McCarthy/NBC/NBCU Photo Bank via Getty Images

Fred Armisen will host the 74th annual Peabody Awards—the official presentation of the oldest and most prestigious award for electronic media—this May, as the ceremony becomes an evening gala for the first time. Previously, the event has been a weekday luncheon.

The red carpet awards ceremony will take place on May 31 at Cipriani Wall Street in New York City. The best parts of the ceremony, along with interviews and clips from winning programs, will air on the Pivot TV channel in June.

“We are thrilled to have Fred Armisen lead the Peabodys into a new venue and a new era,” said Dr. Jeffrey P. Jones, director of the Peabody Awards program at the University of Georgia. “Armisen is not just a comedian but an inspired citizen whose singular take on life and politics exemplifies the Peabody mission to honor stories that matter.”

Armisen’s IFC show, Portlandia, received the Peabody Award for excellence in 2011.