The New York Times reports that former Governor and vice president candidate Sarah Palin signed on as a contributor to the Fox News Channel.

Fox News' popular hosts and contributors are part of what pulls them ahead of CNN, MSNBC and other network news sites.

Jim Rutenberg in NYT: Ms. Palin will not have her own regular program, one person familiar with the deal said, though she will host an occasional series that will run on the network from time to time. This person would not elaborate, but the network does have a precedent for such a series. Oliver L. North is the host of an occasionally running documentary series on the military called “War Stories.”

Fox News is set to officially announce the news later today.

UPDATE: In their official release, Fox News says Palin will provide political commentary and analysis for FOX News. She will also host periodic episodes of Real American Stories, a new series that will explore inspirational real-life tales of overcoming adversity throughout the American landscape that will debut in 2010.

Palin said in the statement:

"It’s wonderful to be part of a place that so values fair and balanced news.

She should feel at home in front of the TV news cameras. She was once TV sports reporter for NBC in the late 80s.

Here's an old video of Palin's reporting skills, from a 1988 broadcast.