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.