Contract to be extended through 2011-12

Craig Ferguson is closing in on a deal with CBS and David Letterman’s Worldwide Pants that will keep him at the helm of “The Late Late Show” through the 2011-12 season.

Ferguson’s two-year extension will synch him up with the time frame of the new contract that CBS and Letterman have been hammering out for months (Daily Variety, June 10).

CBS’ decision to renew its vows with Ferguson is a no-brainer. “Late Late Show,” produced by Worldwide Pants, is on a roll, up 9% in viewers this year to an average of 1.8 million. He’s regularly beating NBC’s “Late Night With Jimmy Fallon” in viewers and is competitive in the key 18-49 demo.

Ferguson’s set to hit the yak circuit himself in the coming weeks as he tubthumps his memoir, “American on Purpose: The Improbable Adventures of an Unlikely Patriot,” due out Sept. 22.

Reps for CBS and Worldwide Pants declined comment.

Ferguson is repped by WME.

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