Newt Gingrich Dropping Out: GOP Hopeful To End White House Bid May 1, Sources Say

Newt Gingrich will end his White House bid May 1 and formally back Mitt Romney for the Republican presidential nomination, sources tell CNN and Fox News Politics.

Fox News Politics first tweeted news of Gingrich's decision Wednesday morning. The former House Speaker said he expects Romney will be the GOP nominee during a stop in North Carolina, where he claimed he was campaigning as a "citizen."

Gingrich's campaign recently hit some bumps, with the candidate in so much financial trouble he has so far been unable to pay campaign vendors for their services.

According to CNN, Gingrich is likely to hold his final campaign event Tuesday in Washington, D.C., where he will make the announcement surrounded by his family and supporters.

Below, more on the history of Gingrich's campaign:

Newt Gingrich 2012