AceShowbiz - TV chiefs have moved swiftly to dismiss reports U.S. newsman Larry King's talk show will be cancelled in favor of new programming featuring "America's Got Talent" judge Piers Morgan.

The veteran broadcaster's nightly news show, "Larry King Live", has experienced a slump in ratings over the last year and bosses at the CNN network are said to be discussing a replacement for the 76 year old. Morgan - who fronts his own series, "Piers Morgan's Life Stories", in the U.K. - was reportedly in negotiations to take on the role.

However, CNN bosses insist they have not reached a deal to replace the revered newsman. A network spokesperson says: "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."

"We are currently looking at replacing our 8pm programme and that is our priority. Larry is a beloved member of the team, and he will continue to be part of the CNN family into the future."