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Herman Cain suspends campaign

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Republican presidential candidate Herman Cain and his wife Gloria Cain arrive to speak during the scheduled opening of a local campaign headquarters on December 3, in Atlanta, Ga. Cain took time to reassess the condition of his campaign "because of all this media firestorm stuff," adding, "my wife and family comes first."

From msnbc.com's Michael O'Brien:

"As of today, with a lot of prayer and soul searching, I am suspending my presidential campaign," Cain said at an appearance outside his campaign headquarters in Atlanta. "I am suspending my presidential campaign because of the continued distraction, the continued hurt caused on me and my family. Not because we are not fighters."

Cain said he's launching a "plan B" of his public career, a new policy-oriented website called TheCainSolutions.com. He said he will endorse a Republican candidate for president "in the near future." His announcement could lead to the effective end to his campaign, but technically leaves open the option of reviving his bid for the presidency.

"I am not going to be silenced, and I am not going away," he defiantly told disappointed supporters.

Watch the full announcement below.

Herman Cain announced Saturday he is suspending his campaign for the Republican presidential nomination. This suspension comes after weeks of scrutiny over alleged sexual misconduct and accusations of an extramarital affair.