Shepard Smith Leaving Fox News 'To Begin a New Chapter'

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By 1010 WINS

NEW YORK (1010 WINS) -- Fox News anchor Shepard Smith shocked the media world Friday afternoon when he announced he is leaving the network.

"Recently I asked the company to allow me to leave FOX News and begin a new chapter," Smith said. "After requesting that I stay, they graciously obliged. The opportunities afforded this guy from small town Mississippi have been many."

Smith said that under his agreement with Fox News, "I won't be reporting elsewhere at least in the near future."

Smith's Fox colleague Neil Cavuto said on-air he was "shell-shocked."

This story is breaking.