The paper said Black and Sedaris are on the short list of potential guest hosts, along with comic-actor D.L. Hughley and sports talk personality Jim Rome.
"Ed" and "Strangers with Candy" are both produced by David Letterman's production company, Worldwide Pants -- which also produces the "Late Late Show." The show has been without a host since Craig Kilborn left last week after five years behind the desk.
Guest hosts are expected to start working on Sept. 20 when the show returns from hiatus. Citing insiders, Variety said an order of appearance for the guest hosts had not yet been determined, and other names could be added to the short list as well.