Kevin Frazier

Entertainment Tonight and The Insider are swapping hosts: Kevin Frazier will leave ET to join The Insider, while The Insider's Chris Jacobs will move to ET.

The switch will be effective Monday.

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"It took me a minute to digest it all," Frazier told The Hollywood Reporter, adding that he was informed of the swap Thursday. "We're all in the same building. So even though it's two different shows, it's one big happy family."

Frazier will co-host The Insider, a spin-off of ET, with Lara Spencer, with whom he says he has a "great relationship" and shares Los Angeles Lakers tickets.

A former ESPN SportsCenter co-host, Frazier joined ET as a correspondent and weekend co-anchor in 2004. Jacobs, who previously hosted Overhaulin' on TLC, has been at The Insider for a little over a year.