The news comes just one day after Bergeron announced on Twitter that he will not be returning to the show for its upcoming 29th season after being its host since it debuted in 2005. In a statement provided to Fox News, a representative for the 65-year-old comedian explained that the move was ultimately the network’s call.
“ABC opted not to pick up Tom's option. In the fine tradition of Hollywood cliches, they're ‘Going in a different direction,’” the statement reads.
Now, the network has confirmed that Banks, who co-created "America's Next Top Model" and previously hosted "America's Got Talent," will be taking over as the solo host and executive producer for the foreseeable future.
In a statement, Banks said she’s a fan of the contest's approach of “fun mixed with raw emotion, seeing celebrities push past their comfort zones, the sizzling dance performances ... it’s always transported me to my days of turning it up 10 notches on the catwalk.”
Banks lauded Bergeron as having set “a powerful stage” and said she’s excited to continue the legacy.
In his initial tweet, Bergeron seemed to subtly hint that the decision was not his by writing that he was “just informed” of the decision.
“Just informed @DancingABC will be continuing without me,” he wrote Monday. “It's been an incredible 15 year run and the most unexpected gift of my career. I'm grateful for that and for the lifelong friendships made. That said, now what am I supposed to do with all of these glitter masks?”
Meanwhile, representatives for Andrews did not immediately respond to Fox News’ request for comment but she took to Instagram on Tuesday with her own confirmation of her departure.
"Thank you ABC and the entire Dancing with the Stars family for 6 memorable seasons," she wrote. "Those years wouldn't have been as special without my loving host Tom Bergeron, the talented dancers, and witty judges," Andrews wrote. "I will always cherish my days on set, even if I wasn't the best at walking in heels.''
In a joint statement from ABC and BBC Studios obtained by Fox News, the networks assured that "Bergeron will forever be part of the 'Dancing with the Stars' family."
"As we embark on a new creative direction, he departs the show with our sincerest thanks and gratitude for his trademark wit and charm that helped make this show a success," the statement read.
Last year, Bergeron drew attention when he expressed concern over the show’s decision to include former White House press secretary Sean Spicer among the contestants for last fall's season.
Bergeron tweeted then that he had suggested to producers the new season be a “joyful respite from our exhausting political climate” and urged them to avoid “divisive bookings.”
The Associated Press contributed to this report.