The King is abdicating his throne.
After 25 years on CNN, 76-year-old broadcasting vet Larry King told his audience last night he’s giving up his interview show in November.
After months of rumors that he’d be retiring soon — pushed out by plummeting ratings and a tumultuous personal life — he conceded, “It’s time to hang up my nightly suspenders.
“I talked to the guys here at CNN and I told them I would like to end ‘Larry King Live’ . . . this fall and CNN has graciously accepted, giving me more time for my wife and I to get to the kids’ Little League games,” he said.
King, who has a 53-year career in broadcasting, signed a contract yesterday that calls for him to do specials four times a year.
“He is not leaving CNN,” network President Jon Klein said in a memo to staff. “Larry is a beloved member of the CNN family and he will continue to contribute . . . with periodic specials.”
King told The Associated Press if it were up to him, “American Idol” host Ryan Seacrest would fill his chair.
But there are plenty of other candidates for what is considered one of TV’s most desirable jobs — including “America’s Got Talent” judge Piers Morgan and “Survivor” host Jeff Probst.
King has been plagued in recent months by reports he and his eighth wife, Shawn Southwick-King, had both been involved in extramarital affairs. At one point, Shawn filed for divorce, although they’ve apparently reconciled.
CNN officials said King was leaving under “on his own terms” and hadn’t been coaxed to quit.
But the news network is undergoing a major overhaul in prime time and King, whose audience has shrunk from 1 million-plus to just over 600,000, was a liability despite his status as a TV legend.
King has estimated he’s interviewed 50,000 people over his career.