Keith Olbermann, the controversial liberal pundit and former host of MSNBC's Countdown With Keith Olbermann, will announce Tuesday that he's joining Current TV.

Olbermann made headlines last month when he abruptly announced his departure from MSNBC. Speculation has been rampant over his next move, with Olbermann teasing his Twitter followers about his plans.

According to The New York Times, Olbermann will not only get a prime spot in Current TV's lineup, he will also be receiving an equity stake in the company. As the channel unabashedly leans to the left of the political spectrum, Olbermann is likely to be more candid and off-the-cuff on any new show he may be hosting on the channel.

Current TV, founded in 2005, is owned primarily by former U.S. Vice President Al Gore, businessman Joel Hyatt and Comcast (which has a 10% stake). It focuses on news and public affairs content, though it has added more entertainment content since former MTV Networks President Mark Rosenthal took over as CEO.

Olbermann is said to also be pursuing other ventures, including a potential Internet destination. It's no secret that he'd like to build a media empire of his own.

Olbermann will likely bring new energy and attention to the struggling TV channel. In 2009, it laid off 80 employees, about 20% of its staff at the time. It also doesn't have the distribution that MSNBC has on cable. The pairing of Olbermann and Current TV could give the channel the boost it needs to regain relevancy.

Update (11:19 a.m. 2/8/11: Olbermann's appointment has been confirmed.