Shortly after news of the Letterman scandal broke (you may recall that it was broken by intrepid reporter David Letterman), Nikki Finke theorized that CBS wouldn’t investigate it because CBS boss Les Moonves and his boss, Sumner Redstone, had both had adulterous affairs, and so they wouldn’t be too keen on digging into Letterman.

But as the New York Observer‘s Felix Gilette reports, CBS will be looking into the sex-and-extortion saga the way they know best: with a crack investigative reporter.

Is the journalism industry so down at the mouth these days that David Letterman is the only thing standing between it an utter irrelevance? Probably not, but you’d be forgiven for drawing that conclusion based on how much ink the Late Show host’s love life continues to generate. How much more can we read before utter boredom with the ‘scandal’ sets in.

Last night, after a weekend of being battered by the press, David Letterman apologized on air to both his wife and his staff. The part that struck as a strange and insincere admission? That he didn’t see the tabloid frenzy coming. Did Dave just move to New York City?

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David Letterman‘s seemingly schizophrenic first 15 minutes of tonight’s Late Show spanned the spectrum from funny to serious, all while sticking firmly to the subject of his extortion/sex with staffers revelation last week.

As Rachel Sklar asked earlier tonight, “Which Letterman should we believe?” Well here’s what they both had to say.