'America's Got Talent' judge Piers Morgan has long been mentioned as a possible replacement for Larry King. Now that the suspendered one has announced his retirement, Morgan's elevation to the coveted time slot on CNN is looking more like a reality than a rumor.

RadarOnline.com has learned that Morgan is this close to finalizing a $10 million deal with the beleaguered news network to replace King. A source close to the situation reveals CNN has made it clear Morgan is the network's "first choice," adding, "He is very, very close to agreeing to terms" after weeks of negotiations.