Current TV publicly parted ways with its cantankerous star Keith Olbermann today. Current founders Al Gore and Joel Hyatt broke the news in an open letter on Current’s blog.

We created Current to give voice to those Americans who refuse to rely on corporate-controlled media and are seeking an authentic progressive outlet.  We are more committed to those goals today than ever before.

Current was also founded on the values of respect, openness, collegiality, and loyalty to our viewers. Unfortunately these values are no longer reflected in our relationship with Keith Olbermann and we have ended it.

We are moving ahead by honoring Current’s values. Current has a fundamental obligation to deliver news programming with a progressive perspective that our viewers can count on being available daily — especially now, during the presidential election campaign. Current exists because our audience desires the kind of perspective, insight and commentary that is not easily found elsewhere in this time of big media consolidation.

Olbermann has yet to respond to the news. He did, however, promise a Twitter statement in the near future.

Olbermann’s will be replaced by former New York governor Eliot Spitzer, who starts his new show Viewpoint with Eliot Spitzer tonight on Current.