Breaking: Tonight on “AC360,” Anderson Cooper announced that Erica Hill is leaving the program and CNN “for an exciting future at CBS News.” Earlier, we reported that an announcement would be coming this evening.

Hill has been co-host of CBS’ “Early Show” Saturday Edition with Chris Wragge since September of 2008.

Hill had been with the CNN since 2003, when she started as an anchor for Headline News. She had been a full-time correspondent and substitute anchor for “AC360″ since 2008. In recent weeks, she’d also been one of the rotating anchors for “CNN Tonight.”

An emotional Hill appeared on screen with Cooper as he wished her luck and said, “While I’m happy for her and her entire family, it is with a very heavy heart I say good-bye. I cannot imagine doing this program without Erica Hill and I cannot really express how much I’m going to miss you.”

After a montage of moments from Hill’s career at CNN aired, Hill said, “It was very tough decision to leave, but you know that I’m not going to be far and I sincerely hope it’s not the last time we work together. We’re a good team.”

We are expecting an announcement from CBS News next week about Hill’s new expanded role at the network.