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05/02/2012 04:03 PM

Gingrich Formally Ends Presidential Run

By: YNN Staff

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Republican Newt Gingrich has formally ended his Presidential run. The former House speaker made the announcement Wednesday in Arlington, Virginia.

After losing contests in five states last week, Gingrich said it was clear that Mitt Romney would be the nominee and that his campaign had reached its end.

He says it was an amazing year for him, his wife Callista, and his entire family. Gingrich says that suspending his campaign does not mean he is suspending citizenship.

He also made a special thank you to South Carolina.

"I have to thank the voters of South Carolina and I have to apologize to them. We will have broken their tradition of always picking the nominee. This will make me feel slightly guilty every time we go through South Carolina, but they were tremendous. They were welcoming, they were enthusiastic, the size of the victory was historic. Callista an I will always remember South Carolina, our whole family will," Gingrich said.

Gingrich is leaving the primary with his campaign carrying at least $4.5 million in debt.