Video: Piers Morgan will not replace Larry King on CNN

News giant CNN has denied signing up Piers Morgan to replace Larry King.

Numerous reports insist the US network has signed up former Mirror editor Piers in a £5.5 million deal on a four-year contract.

The New York Post stated that Piers will record his show in New York starting in October, airing four-nights-a-week as Larry, the networks most high-profile interviewer, is "phased out".

But CNN, refusing to comment on "speculation", denied King was being replaced.

"Not surprisingly, there is no shortage of people who would love to succeed Larry King if and when he moves on," the network said in a statement.

"But rumours that we are close to signing a deal for a Larry King replacement are untrue.

"Larry is a beloved member of the team, and he will continue to be part of the CNN family into the future."

Piers has also negotiated with NBC to stay on the America's Got Talent judging panel, but is quitting Britain's Got Talent.