Rick Santorum, Newt Gingrich Suspended by Fox News, Citing Possible White House Runs

"Then on May 1 their contracts will be terminated unless they notify Fox that they are not running for president," Baier said.

He added that the suspensions were a result of "Fox policy."

By keeping political candidates on its payroll, the network was sure to face criticism over journalistic ethics.

Perhaps anticipating questions about Sarah Palin and Mike Huckabee -- two other Fox News contributors expected to make White House runs -- Baier said Wednesday's announcement "does not preclude other announcements that may be made in the future."

Santorum, a Republican, has not announced whether he'll run, but said Wednesday he'll make up his mind "sometime in the coming months."

In a statement, the former Pennsylvania senator said he "appreciated the opportunity to work with many great professionals at Fox News Channel and Fox Business Network to discuss the critical issues facing our country. I share in their commitment to ensure news organizations provide balanced coverage of the issues of the day.

Gingrich did not immediately comment on the Fox News suspension. The ex-House Speaker is expected to signal his intent to form a presidential exploratory committee during a visit Thursday to his home state of Georgia, it was reported Wednesday. Other reports suggested the Republican would actually announce formation of such a committee.