Dobbs, one of the first anchors at CNN, said network president Jonathan Klein agreed to release the 64-year-old anchor from his contract to pursue possibly one of "a number of options."
According to The New York Times television and digital media reporter Brian Stelter, News Corp's (NASDAQ:NWS) Fox Business Network is considering adding Dobbs to its lineup.
Dobbs met with Roger Ailes, the chairman of the Fox News Channel, in September, the Times is reporting.
At the time Dobbs was reportedly viewed as a potential hire for the Fox Business Network. But a Fox spokesperson on Wednesday told the Times, “We have not had any discussions with Lou Dobbs for Fox News or Fox Business.”