While the news hasn't officially been confirmed by CBS at this time, The Wrap is reporting that Into the Woods star James Corden will be taking over hosting duties on The Late Late Show after current host Craig Ferguson departs later this year.

Craig Ferguson announced in April that he will be leaving The Late Late Show sometime at the end of this year, although a specific end date has not been announced yet. Craig Ferguson has served as host of the late-night program, which airs from 12:37 AM to 1:37 AM every night after Late Show with David Letterman, since 2005.

After David Letterman announced his retirement from Late Show in early April, many thought Craig Ferguson would take his place, although the network announced just days later that The Colbert Report host Stephen Colbert will be taking over.

Joel McHale (Community) and Neil Patrick Harris (How I Met Your Mother) have been previously mentioned as possible candidates to take over The Late Late Show.

James Corden plays The Baker in Disney's upcoming musical Into the Woods, and he most recently starred in One Chance and Begin Again. He also starred in and created the TV series The Wrong Mans, and he has also appeared in two episodes of Doctor Who as the Time Lord's flatmate Craig Owens.