"Katie and I are good friends and have stayed closely in touch through the years," Walters said in a statement. "I am very happy to welcome her to the ABC family and I know she will be a great success."
In an email to ABC News staff, President Ben Sherwood lauded Couric's career as a "versatile journalist, interviewer and storyteller." Sherwood said Couric would prove to be the "ultimate utility player" in the news division.
"I've known Katie for 14 years, and even with all of her success, I'm confident that her best days, biggest scoops and most powerful journalism lie directly ahead," he wrote.
Production of Couric's talk show will be based in New York. Jeff Zucker, Couric's executive producer during her long run as co-anchor of NBC's "Today," will be an executive producer on the yet-to-be named program. The eight ABC-owned stations in New York, Los Angeles, Chicago, Philadelphia, San Francisco, Houston, Raleigh/Durham and Fresno, have already cleared the new show in the 3:00 p.m. time slot.