Barbara Walters will announce today on "The View" that she is retiring next summer.

The 83-year-old said, "I am very happy with my decision and look forward to a wonderful and special year ahead both on 'The View' and with ABC News.  I created 'The View' and am delighted it will last beyond my leaving it."

She went on to add, "I do not want to appear on another program or climb another mountain.  I want instead to sit on a sunny field and admire the very gifted women . . . and OK, some men too . . . who will be taking my place."

Back in March, there were rumors flying that she would indeed retire next summer. She went on the "The View" and issued the following statement: "Here I am, and I have no announcement to make. But I do want to say this: If and when I might have an announcement to make, I will do it in this program, I promise, and the paparazzi guys, you will be the last to know."

Barbara Walters has been working in TV journalism for over 50 years.  She started as a writer and researcher for NBC's "Today" show in 1961.