Katie Couric Exit Announcement in 3… 2… 1…

Couric to break news to People

Katie Couric will announce her departure from "CBS Evening News" in a People magazine interview this afternoon, a source familiar with the plan told TheWrap.

The announcement will end months of expectations that she will leave the show she has anchored for five years. Couric will not, however, announce her next steps, which are expected to include a syndicated show.

Also read: Katie Couric Fielding Offers from ABC, NBC, CNN

TheWrap has previously reported that several networks, including NBC, ABC and CNN, have expressed interest in Couric. She could also stay at CBS in a deal that could include the talk show or appearances on "60 Minutes."

Couric's contract with CBS ends June 4, and the exit strategy would allow a full month for a smooth transition. "60 Minutes" correspondent Scott Pelley is expected to take her place.

Couric has said in many recent interviews, including one with her former "Today" co-anchor, Matt Lauer, that she had not decided on her plans.