David Letterman is finally retiring from The Late Show in 2015. This comes after 21 years of being the host of the show plus another 11 years for The Late Night Show. At 66, Letterman has decided to announce the news about his retirement.

During the taping of the show that will be aired Thursday, he announced his intention to retire. The news was broken via Twitter by musician Mike Mills who was the guest of the show for that episode.

After 32 years of being in the job, he is considered to be the longest running late night talk show host in the entire history of television. He has also surpassed Johnny Carson last October. Letterman's contract has been renewed until 2015.

According to the CBS corporation's management, there was a lengthy discussion with Letterman. Eventually, there was an agreement that a little more time was needed before finally running the show into the ground.

Despite this move, Letterman said that he had a great relationship with the management over the last several years. He told the CEO of CBS Corporation, Leslie Moonves, that everything was great and the network has been great, but he had to retire. He also emphasized his gratitude to the people who supported him as well as the network that became his home for many years.  

Over the last three decades, Letterman has conducted tons of memorable interviews with everyone from small to big celebrities. He has become a household name. He has also been followed by thousands of loyal viewers over the years who stay up late just to watch his show. This is deemed to be a rather sudden farewell, but the people who have supported him over the years have to finally face the truth. Letterman's retirement came just a few weeks after when Jay Leno bid goodbye to his The Tonight Show, which ran for over 23 years. It's not clear who will be picked to replace him, but comedy insiders such as Jimmy Fallon, Ellen Degeneres, Conan O'Brien, and Craig Ferguson are expected to be frontrunners.