Clinton to drop campaign, endorse Obama on Saturday

News is just coming out a short time ago that Hillary Clinton will end her campaign on Friday and express support for Barack Obama on Saturday, June 7th. Apparently some kind of agreement has been reached which has persuaded Clinton to officially call it quits. She will retain her delegates and a seat at the convention will be concede the nomination to Obama based on the delegates.

The report from Yahoo News:

WASHINGTON – Hillary Rodham Clinton has decided to end her historic presidential campaign while leaving her options open to retain her delegates and promote her issue agenda, a campaign official says.

The former first lady told House Democrats during a private conference call Wednesday that she will express support for Barack Obama’s candidacy and congratulate him for gathering the necessary delegates to be the party’s nominee.

“Senator Clinton will be hosting an event in Washington, D.C., to thank her supporters and express her support for Senator Obama and party unity. This event will be held on Saturday to accommodate more of Senator Clinton’s supporters who want to attend,” her communications director Howard Wolfson said.

Also in the speech, Clinton will urge once-warring Democrats to focus on the general election and defeating Republican presidential candidate John McCain.

The announcement brought to a close an epic five-month nominating battle pitting the first serious female candidate against the most viable black contender ever.

Obama Tuesday night secured the 2,118 delegates to claim the Democratic nomination, but Clinton stopped short of acknowledging that milestone, saying she would.

An adviser said Clinton and her lieutenants had discussed various ways a presidential candidacy can end, including suspending the campaign to retain control of her convention delegates and sustain her visibility in an effort to promote her signature issue of health care.

This was fairly expected as the rumors had been leaking all day.

More as it develops and as reports come out.

Update

A video report from the Associated Press on Clinton’s decision: