UPDATED: The host will make the announcement Thursday night and exit the late-night staple when his contract expires in 2015.
CBS
David Letterman
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“The man who owns this network, Leslie Moonves, he and I have had a relationship for years and years and years, and we have had this conversation in the past, and we agreed that we would work together on this circumstance and the timing of this circumstance. And I phoned him just before the program, and I said ‘Leslie, it’s been great, you’ve been great, and the network has been great, but I’m retiring,’” Letterman told his studio audience during Thursday's Late Show taping.
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He added, to a standing ovation in the Ed Sullivan Theater: "We don’t have the timetable for this precisely down – I think it will be at least a year or so, but sometime in the not too distant future, 2015 for the love of God, in fact, Paul and I will be wrapping things up.”
In a statement, Moonves noted: “When Dave decided on a
one-year extension for his most recent contract, we knew this day was
getting closer, but that doesn’t make the moment any less poignant for
us. For 21 years, David Letterman has graced our Network’s air in late
night with wit, gravitas and brilliance unique in the history of our
medium. During that time, Dave has given television audiences thousands
of hours of comedic entertainment, the sharpest interviews in late
night, and brilliant moments of candor and perspective around national
events. He’s also managed to keep many celebrities, politicians and
executives on their toes – including me. There is only one David
Letterman."
The news comes as Letterman recently surpassed Johnny Carson as the longest-running host in late-night TV history when factoring in his time with CBS' Late Show and his 11-year tenure with NBC on Late Night. Despite
long-gestating rumors about Letterman’s future, the host inked a new
two-year deal in late 2013. "Les [Moonves] and I had a lengthy
discussion, and we both agreed that I needed a little more time to fully
run the show into the ground," Letterman quipped in a statement at that
time, with Moonves adding: "There is only one Dave, and we are
extremely proud that he continues to call CBS home." Moonves long had
suggested that Letterman would have the platform as long as he
wanted it.
Letterman's exit will provide yet another jolt to a
tumultuous landscape, which underwent a massive transformation earlier
this year with Jimmy Fallon replacing longtime leader Jay Leno as the host of The Tonight Show. Seth Meyers took over for Fallon on Late Night in late February, exiting from his role on NBC's Saturday Night Live. Given a hefty marketing spend and increased attention, Fallon's arrival has catapulted The Tonight Show over rivals Letterman and Jimmy Kimmel Live (ABC) among the key adults 18-49 demographic.
Since NBC's February shakeup, Letterman's Late Show has been averaging
2.69 million viewers -- trailing behind younger, more YouTube-friendly
rival Fallon (5.2 million) but just topping Kimmel (2.64 million). Both
NBC and ABC top him in the adults 18-49 demographic, though all are up
year-over-year during the increase in competition. Amid the renewed
late-night wars, Letterman seemed to up his booking game, recently
nabbing Lady Gaga for a rare performance and guests including Lindsay Lohan and former president Jimmy Carter.Letterman produces the show through his Worldwide Pants production company, which is also behind his time slot companion The Late Late Show With Craig Ferguson. The banner has also produced scripted fare, including CBS' Everybody Loves Raymond.
Watch Letterman's announcement, below, as well as the full nine-minute announcement.
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