ABC announced on Wednesday morning that World News's Diane Sawyer will be stepping down from her role as anchor. Sawyer will be exploring other opportunities within ABC.

Sawyer will be replaced by Good Morning America cohosts George Stephanopoulos (for breaking stories) and David Muir (for day-to-day anchoring duties).

According to a memo that was released by ABC on Wednesday, Sawyer had been considering a new role at ABC for some time. It is being speculated that she may host a show that will fill the void left by the recently retired Barbara Walters.

Sawyer hosted World News for five years, and that time culminated with a  #1 finish in this May's sweeps.

Sawyer will finish her duties at World News in late August.