David Letterman Retiring: 'Late Show' Host Will Be Stepping Down in 2015

Brace yourself - David Letterman will soon be retiring.

ABC News reported that the late night talk show host announced that he will be retiring in 2015, once his contract has ended. Letterman made the announced during his Thursday's taping of "Late Show With David Letterman".

"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,'" said Letterman, according to ABC News.

Letterman, TV's longest-running late-night talk-show host in television history, added: "I just want to reiterate my thanks for the support from the network, all of the people who have worked here, all of the people in the theater, all the people on the staff, everybody at home, thank you very much."

At the end of his speech, his audience reportedly gave him a standing ovation. News of his retirement some about seven months after Letterman extended his Late Show contract for two more years. Letterman has hosted the CBS late night talk show for 20 years -- since August, 1993.

Musician Mike Mills, R.E.M.'s bassist who performed on Thursday's show, tweeted about Letterman's big news following the taping. "Dave just announced his retirement #2015 #muchlovedave."

Les Moonves, President and CEO of CBS, issued a statement shortly after Letterman's announcement.

"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," Moonves said. "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."

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