Just about a year to the day that he left CNN, Lou Dobbs is returning to cable news, this time as host of his own show on News Corp.'s Fox Business Network.

Fox Business Network is expected to announce that it has signed Dobbs as early as Wednesday afternoon. It's the latest high-profile hire for the cable network, which launched a little over three years ago and is in 57 million homes. Although that is far fewer homes than its chief rival, CNBC, Fox Business last week managed to beat CNBC on election night, both in viewers and the key adults 25-54 demographic.

Dobbs' show will premiere in early 2011. He will also appear on other Fox Business programming.

When Dobbs left CNN last November after clashing with management there, he said some leaders had been urging him to "go beyond the role at CNN and to engage in constructive problem-solving as well as to contribute positively to the great understanding of the issues of our day."

At that time, there was speculation that Dobbs would seek some sort of political office. He had become something of a lightening rod on several issues, most prominently illegal immigration. It was his commentary on that topic that often led to fights with CNN brass, including Jon Klein, who was then president of CNN's domestic operations.

Although Dobbs played up the idea that he would enter politics, many within the media industry anticipated that he would find a new home at Fox, either with Fox News Channel or Fox Business.

Dobbs has not been off the radar for the last year. He continued his nationally syndicated radio show after he left CNN and is expected to keep that gig with Fox Business as well.

Dobbs will instantly become one of the biggest names on Fox Business. Neil Cavuto is its most prominent on-air personality. Other high-profile anchors and reporters include Charlie Gasparino and Dennis Kneale, both former CNBC staffers, and Gerri Willis, an ex-CNN correspondent who hosts a show for Fox Business.

-- Joe Flint

For the record: This post was updated to include details on Dobbs show would premiere.

Photo: Lou Dobbs. Credit: Karen Bleier / Getty Images