Lou Dobbs Leaving CNN—Right Now!

Tweny-nine-year CNN veteran announces that Wednesday's Lou Dobbs Tonight would be his last

Lou Dobbs is taking his gripes elsewhere.

The longtime CNN personality announced on the air Wednesday that, not only is he leaving the network, but that it would be his last show.

He's ready to "pursue new opportunities," said the 64-year-old Dobbs, who's been with CNN since its inception in 1980. His original nightly show, Moneyline, eventually morphed into his current gig, Lou Dobbs Tonight.

"I'm the last of the original anchors here on CNN, and I'm proud to have had the privilege of helping to build the world's first news network," he said.

No word on what those opportunities might be, but he said he'd let us know when he sets his course.

CNN agreed to let Dobbs out of his contract, which wasn't supposed to end until 2011.

"With characteristic forthrightness, Lou has now decided to carry the banner of advocacy journalism elsewhere," CNN president Jon Klein said in a statement. "We respect his decision."

Dobbs, whose fiery manner and near-xenophobic stance on illegal immigration made him perennial fodder for The Daily Show and other critics, had one of the most-watched shows on CNN.

And it's not the greatest time for CNN to be losing one of its most recognizable faces. The former cable-news leader has slipped to third behind MSNBC and Fox News in the prime-time ratings.

According to CNN, John King will take over the slot.