ABC's John Stossel jumps to Fox's cable networks

NEW YORK -- ABC anchor John Stossel is jumping to Fox.

Stossel is a libertarian whose work won both headaches and viewers for ABC during his 28 years at the network. He'll anchor a weekly program on the Fox Business Network and appear regularly on Fox News Channel.

His new show on the business network will explore consumer issues and libertarianism. Stossel was known for his "Give Me a Break" stories on ABC, which he turned into a best-selling book.

He was an anchor at "20/20" for ABC. ABC says Elizabeth Vargas will continue to anchor that show.