Glenn Beck (Jose Luis Magana/AP)

Glenn Beck will be leaving his Fox News show, but that doesn’t necessarily mean he’ll be leaving Fox News. Glenn Beck’s production company Mercury Radio Arts and Fox News announced Wednesday that Beck would be transitioning off his daily program to concentrate on developing “a variety of television projects for air on the Fox News Channel as well as content for other platforms including Fox News’s digital properties.”

Beck’s ratings have dropped from 2.9 million views in January of 2010 to 1.8 million in January of 2011 and there has been speculation about his departure for some time.

“Since last August, when he summoned more than 100,000 followers to the Washington mall for the “Restoring Honor” rally, Mr. Beck has lost over a third of his audience on Fox — a greater percentage drop than other hosts at Fox,” David Carr wrote in early March. “True, he fell from the great heights of the health care debate in January 2010, but there has been worrisome erosion — more than one million viewers — especially in the younger demographic.”

Already, media watchers question if the press release with its promise of future projects is just a kind way of reporting that Beck and Fox News are parting ways. NPR’s media correspondent David Folkenflik writes, “We’ll see about those “special projects” — this boils down to Beck’s departure from Fox.”

Will you be sad to see the chalkboard go?