The Late Late Show

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Craig Ferguson will step down as host of CBS’ “ The Late Late Show” in December when his contract with the network expires after nearly a decade as David Letterman’s companion in the 12:35 a.m. slot.
Ferguson broke the news to his studio audience at the 5 p.m. PT taping of Monday’s edition of “Late Late Show.” In a statement issued by the network he quipped: “CBS and I are not getting divorced, we are ‘consciously uncoupling,’ but we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much.”
Ferguson’s decision comes less than a month after Letterman announced his intention to retire next year, and about two weeks after CBS tapped Stephen Colbert as his successor. Ferguson’s move was not a surprise given CBS’ decision to turn elsewhere for Letterman’s replacement. Ferguson’s last contract with CBS ensured him a windfall payout of an estimated $8 million-$10 million once the Eye opted against giving him “The Late Show” slot.
Craig Ferguson to Leave 'Late Late Show’ in December - Yahoo TV
 
I wonder if it will be Chelsea Handler. She will be leaving her talk show "Chelsea Lately" on E! at the end of the year. A few weeks back she tweeted her photo where she was holding some papers carrying CBS logo. CBS later denied that they aren't talking with her about the 12:35am show. But, now Ferguson is leaving. So...
 
So this pretty much confirms that Ferguson did really want the Letterman job. With that avenue closed, no need to hang around at 12:30.
 
I don't think Ferguson is suited for 11:35pm. In any case, there was a clause in his contract that if he was passed for the job, he'd get a $5 million buyout.
 
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