Barbara Walters Officially Announces Retirement

A TV legend makes it official.  It was a rare display of emotion as Barbara Walters told the nation that she's stepping down.

She said on The View, "In a year from now I plan on retiring from television. I have been on television continuously for over 50 years. I’m perfectly healthy, this is my decision, I have been thinking about it for a long time. This is what I want to do."

INSIDE EDITION caught up with 83-year-old Walters on Monday as she left her New York City apartment building on her way to make the announcement on The View.

"What are my plans for the future? Right now, I have to do a show, that is my future," she said.

She was sidelined for six weeks earlier this year battling the chicken pox, a serious illness for elderly people. She also fell and suffered a concussion. In 2010 she survived open heart surgery.

Trailblazing Walters was the first woman to co-host a news program, the Today show, in 1974.

Robin Roberts on Good Morning America said, "Off camera she is one of the most generous people, she has mentored so many. It's nice that she's now gonna take some time to enjoy The View."

The tributes are pouring in— even from the competition. The ladies of CBS’ The Talk are shooting their show in New York this week.

Sharon Osbourne said, "That is why we are here, because of Barbara. She paved the way for everyone."

Sara Gilbert said, "It is a big moment in time for someone like that to step down."

Julie Chen said, "She is iconic, she is my hero. When I heard rumblings, I was like, 'She is not going to do it.' I don't think she should."