Dan Rather, the CBS news anchorman embroiled in the scandal over faked documents related to President George W. Bush's service in the National Guard, is stepping down at the end of March.
The 73-year-old succeeded the legendary Walter Cronkite in 1981, fronting what was then the most highly regarded and widely watched network news.
His forceful style and quirky language quickly made him a household name.
Rather said discussions on his departure began in the northern summer - before the huge embarrassment of the forgeries used in a September edition of the 60 Minutes II documentary programme which he presented, at the height of this year's election campaign.
The documents, purporting to show that the President had received preferential treatment during his spell in the Texas Air National Guard, were quickly shown to be fakes.
An independent report has been commissioned and is due to be released soon.
The episode delivered a heavy blow to the reputation of both CBS and Rather himself.
"I have always been and remain a 'hard news' investigative reporter at heart," he said yesterday. "I now look forward to pouring my heart into that kind of reporting full time."
He said he would continue reporting for 60 Minutes, the network's flagship magazine programme.
He steps down when the flagship CBS evening news lags far behind its ABC and NBC rivals. No successor has yet been named.
The announcement comes just a week before the retirement of his rival Tom Brokaw, the NBC anchorman who is arguably the closest equivalent today of Cronkite.
Rather had been a staple of American television news during his 40 years with CBS. Some years ago, he reported from Afghanistan wearing a peasant disguise, for which he became known as "Gunga Dan".
In his heyday, Rather cultivated a homespun style from his native Texas, and was never short of a pithy riposte.
In 1974, he elbowed an ABC reporter aside to ask President Richard Nixon a question, prompting the President to joke, "Are you running for something?"
"No, sir, Mr President," Rather replied. "Are you?"
In 1987, he walked off the set in protest at a decision to let a tennis match delay the news, leaving a six-minute gap in the television schedule. Cronkite has said he should have been fired for that.
On the 2000 presidential election night, as the networks wrongly called the election for the Democrat Al Gore, Rather memorably said: "This race is shakier than cafeteria Jell-O."
- INDEPENDENT
The face of CBS says goodnight
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