11/10/2009 05:12 am ET Updated May 25, 2011

John Stossel Leaving ABC For Fox Business & Fox News

John Stossel is leaving ABC News for Fox, where he'll host a weekly show on Fox Business and host a series of specials for Fox News.

TVNewser reports that the libertarian "20/20" host is expected to sign a multi-year-deal with Fox, where he'll host a two-hour weekly show on Fox Business and make appearances on Fox News in both the daytime and primetime hours.

Stossel's departure comes on the heels of last week's announcement that Charlie Gibson is retiring from ABC News.

ABC released the following statement on Stossel's departure:

John has been an important part of the ABC News family for decades and we will miss him. He has engaged, and occasionally enraged, our audience with thought provoking opinions and analysis. John is a unique figure in American journalism and will be an asset to Fox News in this next chapter of his terrific career. We wish John the very best and look forward to hearing his take on the great issues of the day from his new home at Fox.