Paul Ryan Announces He's Not Running For President

WASHINGTON (CBSNewYork/AP) -- House Speaker Paul Ryan is not running for president.

The Wisconsin Republican addressed reporters Tuesday to formally rule out entering the GOP race this year.

"I do not want, nor will I accept the Republican nomination,'' Ryan said during a brief press conference at the Republican National Committee.

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The announcement came after weeks of speculation that Ryan could emerge as the GOP nominee if there's a contested Republican convention.

That's looking likely since front-runner Donald Trump may not collect the necessary delegates ahead of time.

(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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