Thompson drops out of presidential race

Former Sen. Fred Thompson on Tuesday ended his run for the presidency, coming off the heels of a disappointing third-place finish in South Carolina's GOP primary and heading into the showdown state of Florida next week.

"Today I have withdrawn my candidacy for president of the United States," Thompson said in a statement.

"I hope that my country and my party have benefited from our having
made this effort. Jeri and I will always be grateful for the
encouragement and friendship of so many wonderful people."

Thompson entered the race in September, long after his Republican
rivals had announced their candidacies and began raising money. His
campaigning style was criticized as lackluster, and he was never able
to capitalize on the anticipation supporters had built before he
announced that he was getting into the race.

Thompson was
elected to the U.S. Senate in 1994 and represented Tennessee for eight
years. He had hoped to do well in South Carolina, the first Southern
state contested in this election cycle and where a strong showing could
have reinvigorated his flagging campaign.

He finished with 16
percent of the vote. Sen. John McCain won Saturday's contest with 33
percent, followed by former Arkansas Gov. Mike Huckabee with 30 percent.