CNN has cut loose veteran broadcaster Larry King, according to Joe Flint from the LA Times.

In a statement Wednesday, CNN said it had "the greatest respect for Larry," and wished him "the best of luck with his new endeavors.” King added that he has nothing but love for CNN. King's staff of four will likely be let go from CNN but may be able to reapply for new jobs at the network.

Following King's exit from his weekday talk show in 2010, CNN and King agreed on a series of regular specials. The last one of those aired in December 2011, although TV Newser reports King had hoped to do at least two more.

King is believed to have nearly two years left on his contract with CNN, and he had two new specials in the pipeline before the decision was made to end them. It isn’t clear whether the agreement means that King is now free to appear on other networks, or whether he is still under contract with CNN.

CNN Reliable Sources host Howard Kurtz, while tweeting a link to the LA Times story, commented:

"He's now free to take his talents elsewhere."