Letterman to Retire in 2015

04.03.2014

​ is stepping down as host of CBS' flagship program in 2015, the veteran comedian announced Thursday.

Letterman revealed his retirement plans during the regular afternoon taping of his program, but word leaked when the show's guest, REM's Mike Mills, tweeted it to the world.Â

"I just want to reiterate my thanks for the support of the network, of all the people who have worked here, of all the people in the theater, of all the people on the staff, of all the people at home," Letterman told the studio audience.

Referring to his longtime bandleader , he then deadpanned, "And what this means now is that Paul and I can be married."

He said that while there is no firm timetable in place, he and Shaffer would retire some time in 2015, 22 years after they took over CBS' "Late Show" in 1993.

Shortly after the news of Letterman's announcement broke, CBS President and CEO Leslie Moonves released a statement that read:

"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. His greatness will always be remembered here, and he will certainly sit among the pantheon of this business. On a personal note, it's been a privilege to get to know Dave and to enjoy a terrific relationship. It's going to be tough to say goodbye. Fortunately, we won't have to do that for another year or so. Until then, we look forward to celebrating Dave's remarkable show and incredible talents."

Perhaps as is to be expected, speculation on a possible successor to the "Late Show" throne began within moments of Letterman's retirement plans hitting the Internet.

One obvious in-house successor is , whose "Late Late Show" follows Letterman on the late night schedule, and is produced by CBS and Letterman's own Worldwide Pants.

The Times reported in 2012 when both Letterman and Ferguson signed new deals with the network that the latter has a "Prince of Wales" clause in his contract that allows him to move into the 11:35pm timeslot if Letterman leaves. But CBS could always buy out that deal and install another host in his place.

Other names floated late Thursday include ABC's Jimmy Kimmel, who told TV Guide he wouldn't be against hopping over to the Eye to succeed Dave.

Then there's the question of whether or Stephen Colbert could be lured from corporate sibling Comedy Central.

And, of course, The Wrap couldn't resist revisiting the Jay vs. Conan drama, and whether either of those two erstwhile NBC late-night hosts might get the CBS gig.

Read More: , The New York Times

Brief Take: After 21 years in the host's chair, Letterman is avoiding the whiff of being pushed out that tainted 's exit from NBC. The long lead to his departure gives CBS enough time to think about whether they want to keep the traditional late-night chat show format, or try something new and innovative at 11:35pm.