Letterman 'to extend CBS contract to 2012'

David Letterman is reportedly in final negotiations to extend his talk show contract.

The 62-year-old TV star, who has been hosting the Late Show with David Letterman since 1993, has allegedly struck a deal with CBS to extend his contract to fall 2012.

According to Radar Online, both sides are expected to sign the contract within the next few days.

Following Letterman, Scottish talk show host Craig Ferguson has also extended his CBS deal to 2012.

In early October, Letterman admitted to having sexual relationships with female members of his staff.