CBS has locked in its late night hosts for two more years. David Letterman and Craig Ferguson have signed contract extensions with the network to continue to host their late night talk shows, Late Show and The Late Late Show, respectively, through 2014. Both shows have been solely produced by Letterman’s Worldwide Pants banner under the talk show host’s original 1993 agreement with CBS. As part of the new pact, CBS will take on some ownership of The Late Late Show, co-producing it with Worldwide Pants. Also as part of the deal, The Late Late Show will move to a larger stage at CBS Television City in Los Angeles.

For Letterman, the contract extension provides a shot at making late night history. During his new deal, the comedian, who made his debut in late night in 1982, would become the longest-running late night talk show host in TV history, surpassing the current record of 30 years held by Letterman’s idol Johnny Carson. “David Letterman is a late night legend with an iconic show and Craig Ferguson continues to evolve the genre in exciting and innovative ways,” said CBS Entertainment president Nina Tassler.

After an 11-year-run on NBC’s Late Night with David Letterman, Letterman made his debut on CBS on Aug. 30, 1993. His Late Show With David Letterman has won nine Emmy Awards, including six for Outstanding Variety, Music or Comedy Program. Barbara Gaines, Matt Roberts, Jude Brennan, Maria Pope, Eric Stangel, Justin Stangel and Rob Burnett are the executive producers. The Late Late Show With Craig Ferguson, which premiered in 2005 when Ferguson was selected to replace previous host Craig Kilborn, has earned a Peabody Award and an Emmy nomination for its Scottish-born host. Peter Lassally is the executive producer.