David Letterman isn't going away just yet.
The CBS late-night host has extended his contract through 2015. His deal had been set to expire in 2014.
In a statement, Letterman cracked that he had a conversation with CBS Chief Executive Leslie Moonves and they both agreed that "I needed a little more time to fully run the show into the ground."
Letterman has been with CBS since 1993. Though he currently trails rival Jay Leno in the ratings, CBS is optimistic that will change when Leno steps down and is replaced by Jimmy Fallon early next year.
The news will put on the back burner -- at least for a little while -- speculation about who might succeed Letterman when he does step down.
Craig Ferguson, host of "The Late Late Show," which follows Letterman's show, has a contract that runs through the end of 2014. CBS is in talks with Ferguson regarding an extension of his contract as well.
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