"CBS and I are not getting divorced, we are 'consciously uncoupling,'" Ferguson quipped. "But we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much."
The announcement hasn't entirely surprised industry observers, who speculated that Ferguson might decide to leave when Dave Letterman's "Late Show" gig was handed to Stephen Colbert.
CBS Entertainment chair Nina Tassler said in a statement that Ferguson "infused the broadcast with tremendous energy, unique comedy, insightful interviews and some of the most heartfelt monologues seen on television."
Ferguson will leave when his contract expires in December.
As for Ferguson's replacement, CBS has already said that it has no plans to hire Chelsea Handler, who is currently shopping for a new network.
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