The new 7pmET host will be John King, a rising star at the network who began anchoring a four-hour Sunday block earlier this year.

From the CNN press release:

As one of the nation’s leading political reporters, King will host a definitive political hour that goes well beyond the surface of the day’s top stories to provide in-depth analysis and context to key political movements in Washington and across the nation. As King does on his Sunday program, State of the Union, he will sit down with a wide range of the day’s top newsmakers, key political reporters and analysts, and elected officials.

“The program will reflect what CNN is all about: straight facts from our anchors and the widest range of opinions from across the political spectrum,” said Klein. “John has enthralled CNN viewers with his vast political knowledge, and he has spent the past year reporting from beyond the Beltway on pressing policy issues and the real people they impact. Every night, he’ll share his passion and his insights about what is really going on in Washington and across America.”

Also in the release is the news King will be leaving State of the Union when he takes over the weekday show early next year. As for the rest of 2009, a CNN spokesperson tells Mediaite, “An interim program will go in at 7pm until the end of the year called ‘CNN Tonight,’ anchored by various anchors.” That won’t begin until tomorrow – tonight The Situation Room is expanded to an extra hour, and tomorrow a Veteran’s Day special will air in the timeslot.

Maybe those rotating anchors will be auditioning for King’s current job, the four-hour Sunday block. With King leaving the gig, the show is a great place to insert a new talent, especially one CNN is looking to groom into a weekday spot, the same way it did during 2009 for King.

King may be best known for his use of the “Magic Wall” during the 2008 Election, and he continued using it on Sunday mornings. We imagine that will be part of his next 7pmET show (in fact, maybe they should call it Magic Wall with John King purely on name recognition alone). But the other thing King is known for is being unbiased and objective, as Klein said in the release. It sounds like CNN’s strategy, as it looks to turn around some of its worst ratings in recent years, will be to stick with the plan of hard news. We’ll see if it works. Then again, this is 7pmET, so we may get some more changes in prime time by the time King’s 2010 show debuts.

Get to know your new 7pmET weekday anchor with some highlights from the first six months of his Sunday show:

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He said he would “engage in constructive problem solving,” and will “pursue new opportunities – at this point I’m considering a number of options and directions.”

“This will be my last broadcast here on CNN where I’ve worked for most of the last 30 years,” he said. Later: “I will be eternally grateful to CNN, to Ted Turner, and all of my colleague and friends.”

The New York Times broke the story about Dobbs earlier this evening.

More from Dobbs’ comments:

Over the past six months its become increasingly clear that strong winds have changed and begun buffetting this country and affecting all of us. Some leaders in media, politics and business have been urging me to go beyond my role here and to engage in constructive problem solving as well as contribute positively to a better understanding of the great issues of our day.

Dobbs has been rumored to be a possible hire at Fox Business Network. Update 2: An FNC/FBN spokesperson tells Mediaite: “We have not had any discussions with Lou Dobbs for Fox News or Fox Business.”

Dobbs joined CNN when it launched in 1980, as an anchor focusing on business. But more recently he has become a lightning rod with some of his opinions, especially as CNN continues its focus on news, rather than opinion journalism. Dobbs left the network once before, in 2000 to join Space.com, but was back the following year.

CNN declined to comment about Dobbs to Mediaite.

> Update: Brian Stelter tweets: “NYT learns that Lou Dobbs’ resignation is effective immediately; tonight’s program will be his last on CNN.”

> Update at 7:45pmET: CNN released this statement from CNN/U.S. President Jon Klein:

Lou Dobbs is a valued founding member of the CNN family. For decades, Lou fearlessly and tirelessly pursued some of the most important and complex stories of our time, often well ahead of the pack. All of us will miss his appetite for big ideas, the megawatt smile and larger than life presence he brought to our newsroom, and we’re grateful to have known and worked with him over the years. With characteristic forthrightness, Lou has now decided to carry the banner of advocacy journalism elsewhere. We respect his decision and wish him, Debi, and his family the very best.

We hear CNN will address who takes over the 7pmET slot tomorrow. Dobbs signed off saying, “As they say, I’ll see you next on the radio.”

Note: This story has been edited as news breaks.

VIDEO:

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