ABC's John Stossel jumps to Fox cable

Will anchor program on Fox Business Network

"20/20" co-anchor John Stossel is moving to Fox News Channel and Fox Business Network.

He has signed a multi-year deal to anchor "Stossel," an hourlong primetime weekly program on FBN, and make regular appearances on FNC.

"Stossel," slated for debut during the fourth quarter of 2009, will tackle Libertarian issues.

At FNC, Stossel will make regular daytime and primetime appearances and will host and produce a series of one-hour specials.

In addition, his blog Stossel's Take, will be featured on both and

Stossel has been the co-anchor on ABC's news magazine since 2003, sharing the desk with Elizabeth Vargas for the past five years.

In light of his departure, "20/20" will be anchored solely by Vargas.