Report: Barbara Walters to retire next year

Barbara Walters began her broadcast career in 1961 as a reporter and panel member on NBC's "Today Show," before being promoted to co-anchor in 1974. Since then, she has spent over a half-century covering the news, and sources at her current network, ABC, told The New York Times that Walters is expected to retire in May 2014.

At ABC, she began "The Barbara Walters Specials" and "10 Most Fascinating People," which has become a regular annual program. Walters has interviewed every U.S. president and first lady since Richard and Pat Nixon. She spent two decades, starting in 1984 as co-host and correspondent for ABC's "20/20."

Walters, 83, now primarily works as co-host of ABC's "The View," which she helped create in 1997. It is expected that she will announce her retirement on the program this May, giving the network a year to run a number of tribute specials and retrospectives on her career.

The announcement comes on the heels of a number of health concerns for the news personality. Walters underwent heart surgery in 2010, and was more recently in the news after suffering a concussion in Washington, and ultimately being diagnosed with chicken pox.