Prince Harry, Meghan Make 'Stunning' Announcement

In an announcement described as "stunning" by the AP, Prince Harry and wife Meghan on Wednesday shared their intentions to "step back as 'senior' members of the royal family and work to become financially independent." They explain in a statement that "after many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution."

The Guardian has more from their statement, which notes the couple plan to "balance" their time between the UK and North America. They write that the geographic arrangement "will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity." (More Prince Harry stories.)