Drew Carey Named New Host of The Price Is Right Filed under ( Bob Barker, David Letterman, Drew Carey, Mario Lopez, Rosie O'Donnell, The Price is Right )

At long last, a successor to Bob Barker's throne has been named. Even though plenty of others wanted it (i.e., Rosie O'Donnell and Mario Lopez to name a few) and vied for the title, funnyman Drew Carey has walked away with the crown.

He revealed the news last night on David Letterman.

"It was like 15 minutes ago, they called me, it's a done deal," comedian Drew Carey said. "I'm the new host of 'The Price Is Right.'"

Carey told Letterman, "As long as Bob Barker is cool with it, the fans will be cool with it."

"I'm cool with it," Barker told The Associated Press after hearing what Carey said.

Although they have yet to meet, Bob Barker gave Carey a few words of wisdom: "Go out there and do that show the way you think it should be done. Don't imitate me and don't imitate anyone else."

Photo from ABC News.