Keith Olbermann Out at MSNBC

This is his last sign-off with thanks to his entire staff and a dramatic reading from James Thurber:

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N.Y. Times has the most comprehensive write-up so far:

9:43 p.m. | Updated Keith Olbermann, the highest-rated host on MSNBC, announced abruptly on the air Friday night that he is leaving “Countdown with Keith Olbermann” immediately.

The host, who has had a stormy relationship with the management of the network for some time, especially since he was suspended for two days last November, came to an agreement with NBC’s corporate management late this week to settle his contract and step down.

In a closing statement on his show, Mr. Olbermann said simply that it would be the last edition of the program. He offered no explanation other than on occasion, the show had become too much for him.

Mr. Olbermann thanked his viewers for their enthusiastic support of a show that had “gradually established its position as anti-establishment.”

In a statement, MSNBC said : “MSNBC and Keith Olbermann have ended their contract. The last broadcast of ‘Countdown with Keith Olbermann’ will be this evening. MSNBC thanks Keith for his integral role in MSNBC’s success and we wish him well in his future endeavors.”

MSNBC announced that “The Last Word with Lawrence O’Donnell” would replace “Countdown” at 8 p.m., with “The Ed Show” with Ed Schultz taking Mr. O’Donnell’s slot at 10 p.m. Mr. Olbermann did not discuss any future plans, but NBC executives said one term of his settlement will keep him from moving to another network for an extended period of time.

NBC executives said the move had nothing to do with the impending takeover of NBC Universal by Comcast.

Mr. Olbermann had signed a four-year contract extension in 2008 for an estimated $30 million. He hosted “Countdown” at 8 p.m. since 2003 and it became the foundation of the channel’s surge to status as the second-ranked news channel on cable television, after Fox News, surpassing the one-time leader CNN.

Full article here.