Craig Ferguson Steps Down as Host of CBS' 'Late Late Show'

Craig Ferguson is hitting the bricks after 10 years on The Late Late Show failed to lead to the big gig.

“CBS and I are not getting divorced, we are ‘consciously uncoupling,’" Ferguson said in a statement, "but we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much.”

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Ferguson was well-liked by the network and enjoyed a loyal cult following, but never emerged as the heir apparent to David Letterman, whose Late Show will hand the keys over to Stephen Colbert sometime late next year. And even though Ferguson has repeatedly said he didn't want Letterman's job, it's no surprise he's stepping down after being officially passed over. Read more...