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'The View' co-hosts Jenny McCarthy and Sherri Shepherd discuss post-show plans

Jenny McCarthy, left, and Sherri Shepherd on the

Jenny McCarthy, left, and Sherri Shepherd on the daytime talk show "The View," in New York on Monday, July 7, 2014. Credit: AP / Fred Lee

With humor and tears, "The View" co-hosts Jenny McCarthy and Sherri Shepherd Monday addressed ABC's announcement last month that they would not be returning to the daytime talk show after this current season.

On the first new edition after a weeklong hiatus, cohost Whoopi Goldberg immediately acknowledged the "giant neon pink gorilla in the room" and turned to McCarthy, 41, who said, "All those rumors about how Sherri and I are leaving are not true!" she joked. "We are not!" Following loud audience applause, the actress and one-time Playboy Playmate of the Year confessed, "Actually, it is true, but I love the support!"

McCarthy went on to thank show creator Barbara Walters, the producers and her co-hosts, and added that "after much consideration, I've taken a new job that will allow me to do what I do best, which is talk without having to interrupt anyone. I will be announcing it in the next few weeks. . . so stayed tuned, even if it does compete with 'The View'!"

An emotional Shepherd, 47, thanked Walters and executive producer Bill Geddie, and said producers had known "since the spring that I did not intend to return to the show after my contract ends in August." Explaining, "I'm a woman of faith, and seven in the Bible is the number of God's completion," she noted, "I've been here seven years and my time on 'The View' is complete."

Before breaking into tears, she vowed, "I have exciting news I will be announcing in the future."

The Los Angeles Times last week said Shepherd's departure was due to disagreement on new contract terms, and McCarthy's for creative reasons.

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