Fox News has terminated the contracts of former House Speaker Newt Gingrich (R-Ga.) and former Sen. Rick Santorum (R-Pa.) as they both stand on the verge of 2012 presidential runs.

The network suspended their contributor contracts earlier this year pending final decisions on whether they would officially get into the 2012 race.

A spokeswoman for the network confirmed to The Ballot Box on Thursday that the decision was made to terminate their contracts as of May 1.

Santorum formed a presidential exploratory committee earlier this week, and a Gingrich spokesman told The Associated Press the former Speaker will officially be in the race for the White House by next Friday.

Former Arkansas Gov. Mike Huckabee, who hosts a weekly show on the network, is also under pressure to decide on a 2012 bid. But Fox has denied that network executives have given him a May 31 deadline for a decision.