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Letterman Extends CBS Contract Through 2015

David Letterman will continue his tenure as the longest-running late-night shows for a few more years.

Letterman agreed to a contract extension to remain as host of The Late Show through 2015, the network announced Friday. "There is only one Dave, and we are extremely proud that he continues to call CBS ‘home,'" said Leslie Moonves, president and CEO, CBS Corporation.

The decision to extend Letterman, who just past 31 years as a late-night host, comes as the CBS host's main competitor Jay Leno is getting ready to step down as Tonight Show host for the second time to give way to Late Night host Jimmy Fallon, moving the show back to New York. Saturday Night Live's Seth Meyers will fill Fallon's slot.

Late Show averaged 3.14 million viewers last week, up 5% over last year's first week of the TV season.

The Late Show With David Letterman is a production of Worldwide Pants Incorporated. Barbara Gaines, Matt Roberts, Jude Brennan, Maria Pope, Eric Stangel, Justin Stangel and Rob Burnett are the executive producers.