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He is a member of the Sigma Chi fraternity, and he graduated in 1969 from what was then the Department of Radio and Television.

A self-described average student, Letterman later endowed a scholarship for what he called "C students" at Ball State.

and was produced by Letterman's production company, Worldwide Pants Incorporated and CBS Television Studios. For most of the 20 years preceding Late Show, CBS's late night fare consisted of movies, reruns and specialty programming packaged under the title CBS Late Night and broadcast to middling ratings.

The show's music director and leader of the house band, the CBS Orchestra, was Paul Shaffer. late-night programs, Late Show ranked second in cumulative average viewers over time and third in number of episodes over time. When David Letterman became available following a conflict with NBC, CBS was eager to lure him and offered him a three-year, $14 million per year contract, A significant issue regarding Letterman's move to CBS was the ownership of long-running comedy bits used on Late Night, as well as the name of the CBS show itself.

NBC gave Letterman the choice of at least two options to name his new show, Late Show with David Letterman or Nightly with David Letterman.