Elizabeth Vargas, Co-Anchor '20/20'

May 18, 2004 -- Elizabeth Vargas has been named co-anchor of ABCNEWS' 20/20, it was announced today by David Westin, president of ABCNEWS.

She will join John Stossel as co-anchor of the broadcast in fall 2004. Vargas has been anchoring World News Tonight Sunday since November 2003 and has been a frequent substitute anchor of World News Tonight with Peter Jennings and Good Morning America,as well as a correspondent for 20/20 and Primetime Thursday and a co-anchor of Primetime Monday.

Barbara Walters will continue to anchor 20/20 through September 2004. After September, Walters will remain an active member of the news division and the network, hosting at least five prime-time specials a year, including special editions of 20/20, as well as executive producing and co-hosting The View.

"Whether anchoring breaking news, interviewing newsmakers or reporting in-depth on complex subjects, during her eight years at ABCNEWS, Elizabeth has shown her considerable skill, intelligence and versatility as a broadcast journalist," said Westin. "No one can ever replace Barbara Walters, but Elizabeth will help guide 20/20 in new and exciting directions."

"20/20 has been appointment television for me and for millions of viewers for a quarter century," said Vargas. "Barbara Walters has been an essential part of that success, and I owe her a tremendous debt of gratitude for her advice and generosity over the years. I am delighted to move into this new role and join John and one of the most talented and dedicated groups of producers and correspondents in broadcast journalism."

"When I made my announcement in January asking to leave 20/20 I never would have decided to enter this new phase in my work if I didn't believe in the strength of the franchise," said Walters. "Elizabeth Vargas is a wonderful choice. I've always been happy to have her pieces on 20/20 and now we are delighted that she will be on the broadcast full time.

She and John, along with the superb producers at 20/20, will build on the successes we have had and bring their signature to what I believe is the best newsmagazine in the business."

"It has been a personal and professional honor to sit next to Barbara on Friday nights. I've learned a great deal from her and hope to bring that experience to benefit the next phase of 20/20," said Stossel. "Elizabeth and I have worked together for years and she'll be a great addition to the program. She is a smart, tenacious journalist and I look forward sharing the anchor desk with her."

Vargas has covered breaking stories, reported in-depth investigations and conducted newsmaker interviews for 20/20, Primetime Thursday and Good Morning America. In 2000, she won an Emmy for Outstanding Instant Coverage of a News Story for anchoring live coverage of the Elian Gonzales case.

Vargas has reported on topics ranging from the Maryland/Virginia sniper shootings in 2002 to the use of steroids in the Olympics by female German athletes in the 1970s. She interviewed legendary rocker Mick Jagger about his storied career, explored the world of Las Vegas high rollers and reported on the unusual murder mystery surrounding a suburban Oklahoma couple. Her February 2001 exclusive interview with the owners of two dogs that killed a San Francisco woman was so revealing that prosecutors in the case say it was critical to winning convictions against the couple.

A special investigation Vargas anchored on the Yosemite National Park murders that shocked the nation included revealing never-before-reported accounts of the four murders and exclusive interviews with alleged suspects.

Other reports have included the disturbing battle between two teen factions in a Texas town that ended in the murder of 19-year-old Brian Deneke and a court case that divided the community; an interview with former Boulder Police Detective Steve Thomas about the JonBenét Ramsey case; a revealing profile of Playboy mogul Hugh Hefner; and the first broadcast interviews with the reclusive '70s icon, Cat Stevens.

In July 2003, Vargas hosted "In the Shadow of Laci Peterson," an ABCNEWS special that examined the disappearances of several young women in northern California and why their stories failed to attract significant media attention. Most recently, in November 2003, she anchored "Jesus, Mary and Da Vinci" an hour investigating many theories raised in the best-selling novel The Da Vinci Code.

In 2002, Vargas was the narrator of the four-part, award-winning ABCNEWS documentary series, ICU, which provided a unique look at life inside one of the nation's elite pediatric cardiology intensive care units. She has anchored and reported several one-hour ABCNEWS "Vanished" specials, most recently on the death of supermodel Gia Carangi. Other hour-long specials include "Same Sex Marriages," "Surrogacy" and "It Takes a Miracle." She has also been involved in ABC's Children First Program, participating in a Children First Safety Special and in ABC's March Against Drugs.

Vargas joined ABCNEWS from NBC News, where she spent her last three years as a correspondent and anchor, primarily for Dateline NBC and the Today show. While at Dateline, she reported on a wide range of issues, including breast cancer research, PETA's war against fur and the mysterious life and death of billionaire socialite Doris Duke.

During her tenure at NBC, she also served as substitute co-anchor and news anchor for NBC News' Today show and as a substitute anchor for the weekend editions of NBC Nightly News. She joined NBC News in 1993 as a correspondent for the NBC newsmagazine Now with Tom Brokaw and Katie Couric.

Prior to joining NBC News, Vargas spent four years as a reporter and anchor for WBBM-TV, the CBS affiliate in Chicago.

From 1986-89, she was the lead reporter for KTVK-TV, the ABC affiliate in Phoenix. Earlier she worked as a reporter/anchor for KTVN-TV, the CBS affiliate in Reno, Nevada.

Vargas graduated with a bachelor's degree in journalism from the University of Missouri in Columbia, Mo., where she began her broadcasting career as a reporter/anchor for KOMU-TV. She resides in New York with her husband and son.

David Sloan is the executive producer of 20/20.