Will Larry King's Throne Go to Piers Morgan for $10M?

Since Larry King made the not-so-surprising announcement on Tuesday that he would be "hanging up his suspenders" and ending his 25-year reign over the famous evening interview show that bears his name, speculation has swirled around who CNN would and should pick to replace him.

Given King's indomitable, curmudgeonly presence, securing a successor is of course no easy task. Yet it appears that CNN has already settled on one name in particular: Piers Morgan, a 45-year-old British TV personality known lately for his stint as an acerbic judge on the reality show "America's Got Talent." He is also former editor of British tabloids News of the World and The Daily Mirror, the latter of which became embroiled in a fake-war-photos controversy that cost Morgan his job.

However, it appears his career prospects are looking up -- way up. Morgan has reportedly "been negotiating with CNN for weeks and the $10 million deal is all but inked, according to a source familiar with the situation," writes Daily Radar.

If authentic, the news marks something of a reversal for CNN, which just last week shot down reports that it was considering Morgan for King's replacement: "Not surprisingly, there is no shortage of people who would love to succeed Larry King if and when he moves on, but rumors that we are close to signing a deal for a Larry King replacement are untrue," a CNN spokesperson told the Los Angeles Times. Now, Piers is said to be CNN's "first choice."

But that's not to say that he's necessarily King's first choice.

When asked on Tuesday night's episode of "Larry King Live" who he would want for the job, the ostentatious 76-year-old host revealed to special guest and friend Bill Maher that he would personally select Ryan Seacrest. (Seacrest, 35, is of course best known as the host of "American Idol.")

As King put it: "I can't be objective because I don't know his feelings, his interests in politics, but Ryan Seacrest ... he's curious, he's interesting, he's likable."

Other reports have suggested that CBS Evening News anchor Katie Couric is also on CNN's shortlist.

Surge Desk has contacted CNN for comment and is awaiting a response.