Washington, DC (WIBX) - According to CNN and multiple other news outlets, another Republican candidate is planning to bow out of the race for the White House.  Newt Gingrich is widely suspected to officially suspend his campaign next week.

Gingrich suffered defeats in New York and the four other states that held GOP primaries yesterday. He lags far behind Mitt Romney in the delegate count to secure the Republican nomination. Last night, Gingrich told his supporters his campaign will take a realistic assessment of its position and the best way it can advance the cause of conservatism.

However, despite the outcome of yesterday's primaries, Gingrich maintained a defiant stance when asked by reporters about the future of his campaign. He said it was "presumptuous" of Romney to declare himself the Republican nominee. According to reports, an event is being planned in Washington, DC on Tuesday, where Gingrich is suspected to make an official announcement about the future of his campaign. It is also rumored that Gingrich will throw his support behind the leading candidate, Mitt Romney. And, some are also speculating that the two men could join forces to run as a team to try and beat President Obama.