Olbermann out at MSNBC *

Keith Olbermann announced on the air that tonight's "Countdown" show was his last, and the network followed quickly with a press release. Neither side offered much explanation, NBC Universal saying "MSNBC and Keith Olbermann have ended their contract." The NYT's Bill Carter reports that Olbermann "came to an agreement with NBC’s corporate management late this week to settle his contract and step down." MSNBC announced that “The Last Word with Lawrence O’Donnell” would replace Olbermann's “Countdown” at 8 p.m., with “The Ed Show” with Ed Schultz taking Mr. O’Donnell’s slot at 10 p.m.

Video of Olbermann's signoff: