It's a TV shocker! Diane Sawyer is stepping down as anchor of ABC News.
At the end of August, the 68-year-old legendary newswoman will leave World News Tonight after five years.
The announcement comes just a month after another TV legend, Barbara Walters retired.
TV Guide Business Editor Stephen Battaglio of TV Guide told INSIDE EDITION, "Diane Sawyer was a major figure in TV news because she was able to combine being very glamorous with being a great journalist."
Watch Battaglio's Interview with INSIDE EDITION
Former CNN anchor Larry King says Sawyer leaves behind an impressive legacy. King told INSIDE EDITION, "She showed that a female could anchor solely, a nightly newscast and succeed."
Sawyer was only the second woman to anchor an evening network broadcast solo, following Katie Couric's run at CBS from 2006 to 2011.
"She's a talented broadcaster. She cut her own place and she'll be remembered as long as we have broadcasting," said King.
Who could have guessed this glamorous personality who started off as a weather forecaster in Louisville, Kentucky would go so far?
In her storied career, Sawyer broke ground as the first female correspondent on 60 Minutes. She also co-hosted Good Morning America for 10 years. When she left the morning show in 2009 to anchor the news, there was more laughter than tears.
Sawyer will still be associated with ABC, but is taking on a new role focusing on big investigations and in-depth reporting for prime time specials.
"For many years to come Diane will be a driving force at ABC News with her exceptional storytelling genius. She will create innovative television specials and events..." said a statement by ABC News.
King said, "She'll be working, just not a nightly basis. Usually, if you work nightly, you tend to miss that."
Sawyer was rumored to be mulling a departure last year. The New York Daily News reported that she was "overwhelmed with personal problems" and "helping her mother battle an illness." ABC News has denied that report.
Sawyer is being replaced by 40-year-old David Muir, the anchor of the weekend news and co-anchor of 20/20.
Video has surfaced of Muir from 1992 when he was still a student at Ithaca College in Upstate New York, already anchoring the news.
GMA's George Stephanopoulos will also get a new role, being named Chief Anchor for the network, reporting on breaking news and major events.
Muir tweeted out a photo of the three ABC anchors with the president of ABC News, saying: "This is an incredibly humbling day. Honored to join @DianeSawyer and @GStephanopoulos in this great new adventure."
Sawyer tweeted this morning too: "Congrats to my friends @DavidMuir & @GStephanopoulos - big days and stories ahead for all at @abc!"
Battaglio said, "She's closing in on 70 years old and at some point you have to decide when you're going to go and you want to be able to leave on your own terms."