Newt Gingrich Formally Ends Presidential Campaign

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Newt Gingrich officially ended his campaign for the Republican presidential nomination Wednesday, telling supporters it has been says it was 'an amazing year.'

Gingrich made the announcement from Arlington, Va. He did not immediately endorse Mitt Romney, the likely GOP nominee.

Earlier, the former House Speaker posted a video message on his website Tuesday, thanking supporters and pledging to work hard to prevent what he called the "genuine disaster" that would come from re-electing President Obama.

Gingrich indicated he would leave the race last week after finishing poorly in five northeastern primaries. Gingrich won only contests in South Carolina and in Georgia, which he represented in Congress for 20 years.

His presidential campaign has reported more than $4 million of debt.

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