Diane Sawyer is leaving the anchor desk at ABC"s World News and will be replaced by David Muir.

Sawyer is expected to focus on Prime Time special and takeover the role Barbara Walters had/has at the network.

Muir has been anchoring World News weekend since 2011, will also get the role of Managing Editor at World News.

The network also announced that Good Morning America co-host and This Week anchor George Stephanopoulos takes on the new role of Chief Anchor of ABC News. Which were not sure what that makes Muir's role?

The network says that Stephanopoulos will stay on in his role on Good Morning America as well. Insiders tell FTVLive that you can expect his air time on GMA to slowly diminish over time.

"They don't want to make any hard changes to GMA and hurt their ratings," says an ABC insider to FTVLive. "But at some point George is going to need to sleep," the insider added.

Sawyer has been rumored to be leaving the World News anchor desk for the past year.

It appears the rumors are coming true.

Muir takes over World News on September 2nd.

Stay tuned....