"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,'" he revealed.
Letterman added: "We don't have the timetable for this precisely down -- I think it will be at least a year or so, but sometime in the not too distant future, 2015 for the love of God, in fact, Paul and I will be wrapping things up," he added, to a standing ovation from the audience in the Ed Sullivan Theater.
Moonves issued a statement on behalf of the network: "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."