Well-respected actor and longtime host of the popular interview series "Inside the Actors Studio," James Lipton announced that he is leaving his hosting job on the long-running series.

James Lipton has been the host of the interview series for a long time and has had the privilege of interviewing many of the most powerful stars in Hollywood. The Hollywood Reporter reported that Lipton's involvement with the show moving forward will be based on his scheduled.

"Inside the Actors Studio," has welcomed highly esteemed guests such as Meryl Streep, James Gandolfini, Tom Hanks, Jim Carrey, and many others.

Bradley Cooper first appeared as a student in the audience, and a graduate of the Actors Studio Drama School.

Cooper later became the first graduate of the drama school to be invited onto the show. Thanks to the Actors Studio, Cooper has become a successful actor and is expected to receive an Oscar for his upcoming performance in "A Star is Born. [VIDEO]"

James Lipton interviewed hundreds of highly successful actors

The interview program was originally a seminar for Actors Studio students at the MFA program at Pace University, such as Cooper. Paul Newman was the first televised guest.

Bravo had been home to the show for more than 20 years and they released a statement saying it will always be a part of the network's family. Bravo also said that the show became a must stop for top Hollywood stars and creative talent. Lipton said he would never discuss gossip or drama, which Bravo has become infatuated with, as evidenced by shows such as RHOC [VIDEO].

The popular series has been on the air for 23 years on Bravo and will be moving to Ovation TV in 2019. James Lipton released a statement saying that he is pleased to see his show being continued for a new generation of fans to appreciate and enjoy. During Lipton's tenure as host, the show has received 19 Emmy nominations.

Ovation became the new home for 'The Actors Studio' as Bravo programming changes

Ovation's EVP of programming Scott Woodward released a statement to EW saying that they are dedicated to supporting "The Actors Studio," commitment to offering the best educational resources for the students, by producing quality programming that enlightens and entertains.

Former guest Ellen Burstyn applauded the show's new direction and said that this series has had a strong impact on the MFA program at Pace University. Burstyn is enthused about the move to Ovation.

The Actors Studio reached a two-year deal with Ovation. The studio was originally founded by Elia Kazan in New York for actors to hone their craft. Ovation now has the ability to produce and televise the next generation of episodes.

Burstyn explained that Bravo was originally an arts channel but evolved into something else and Ovation has become the arts-focused channel. Ovation will also air 10 past episodes of the show each year, providing more exposure for Lipton and his incredible interviews.