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CNN's President Jeff Zucker told staff on Thursday morning that he would be stepping down when his contract expires at the year's end.
"I cannot imagine not being here right now," Zucker said, a CNN staff member told The New York Times. "I'm going to stay and finish my current contract, which, as I said, will keep me here until the end of this year. At that point, I do expect to move on."
Zucker has been president of CNN for most of the past decade, and the network saw a boom in ratings during the Trump presidency.
Recently, the network has seen their ratings tank following the inauguration of Joe Biden. In the key demographic of viewers aged 25-54, CNN ratings dropped by 44 percent for all three primetime viewing hours.
The first week of the Biden administration saw the AT&T-owned CNN drop in ratings from Jan. 25-29, Variety reports.
This is a breaking news story and will be updated.