Billionaire progressive Democratic presidential candidate Tom Steyer, whose millions in ad buys help boost media coffers, has dropped out of the race, followed not long after by Pete Buttigieg.

Steyer suspended his campaign late Saturday (Feb. 29) following the South Carolina primary won decisively by former Vice President Joe Biden. 

In an email to supporters and the media, Steyer said he had always said that when he could no longer see a path to victory, he would drop out of the race. "That’s why tonight I am suspending my campaign for president," he said. 

He did not indicate who, if anyone, he might throw his support to, but congratulated Biden on his victory. 

According to the South Carolina Election Commission, Steyer actually came in third in the primary with 11.33% of the vote behind Biden with 48.44% and Bernie Sanders with 19.9%. But Steyer has not picked up any delegates through four primaries-caucuses. 

So far, the delegate count is Sanders 58, Biden 50, Pete Buttigieg 26, and Sen. Amy Klobuchar, 7, of the 1,991 needed for the nomination.

The campaigns of both Buttigieg and Klobuchar indicated Sunday  (March 1), that they were still in it through Super Tuesday (March 3), with primaries in Alabama, Arkansas, California, Colorado, Maine, Massachusetts, Minnesota, North Carolina, Oklahoma, Tennessee, Texas, Utah, Vermont, and Virginia.

But later in the day Buttigieg announced he was also suspending his campaign. "I will no longer seek to be the 2020 Democratic nominee for president," he said. "But I’m going to do everything in my power to ensure that we have a Democratic president come January."

Democratic presidential candidate Tom Steyer has qualified for Tuesday's (Feb. 25) televised debate, his campaign said Sunday.

That was based on a CBS/YouGov poll that had Steyer at 18%, the second of two qualifying polls he needed to make the debate stage (https://democrats.org/news/dnc-announces-qualification-criteria-for-nevada-democratic-presidential-primary-debate/). 

Steyer did not make the stage for the last debate in advance of the Nevada caucus. 

Tuesday's debate will be in Charleston, S.C., in advance of Saturday's primary. 

Evening News anchor Norah O'Donnell and CBS This Morning co-host Gayle King have been tapped as co-moderators of the CBS News-hosted Democratic presidential candidate debate. 

CBSN, the network's 24/7 news streaming site, will live stream the debate as well as post-debate coverage. That stream will also be on twitter at @CBSnews. CBS will also air the debate live on co-owned BET, its black-targeted cable net.  

Democratic Presidential candidate Tom Steyer has gotten some help from Fox News to continue to make his presence felt on the televised debate stage, although Fox did not get any of the televised Democratic debates. 

Steyer's campaign says he has qualified for the next debate thanks to polling 15% in Nevada and 12% in South Carolina according to Fox News polls conducted Jan. 5 and 8 and polling 15% in an average of Iowa, New Hampshire and South Carolina according to Morning Consult. 

He has also met and beat the DNC's 225,000 unique donor threshhold for participation, his campaign said. 

The next debate is Feb. 7 in Manchester, N.H., and will air on ABC as well as Hearst ABC affiliate WMUR-TV Manchester and on Apple News. The DNC and ABC announced new debate criteria for New Hampshire on Friday (Jan. 17).

Steyer is scheduled to appear on "The Late Show with host Stephen Colbert" on Monday (Jan. 20).

As part of his just-announced "Partnership with Rural Communities," Democratic presidential candidate Tom Steyer has proposed a massive rural broadband connectivity program that includes $135 billion in investment and "protecting" municipal and co-op broadband networks. 

He would also have a net neutrality litmus test for FCC commissioner appointments. 

Steyer, who made it to the stage in the most recent televised debate, is currently polling below the needed threshold for the next debate. But that isn't deterring him from tackling the rural investment issue in a big way. 

Closing the rural digital divide is an avowed priority of Donald Trump and his FCC chair, Ajit Pai.  

Related: FCC Launches Latest Broadband Deployment Review

In a new video, Steyer says success in the knowledge economy "starts with access to reliable, high-speed internet." 

"The modern economy is a knowledge economy," Steyer's plan points out. "Full participation in commerce depends on reliable, fast, affordable access to the Internet. However, 39% of rural residents do not have access to high speed wireless as Internet Service Providers fail to serve rural populations, despite receiving large government subsidies as an incentive." 

The FCC distributes over $10 billion in broadband buildout subsidies via its Universal Service Fund, much of it to rural areas. 

"We need to alter our approach, break the corporate gridlock, and build these networks," says Steyer in the plan.  

Specifically, Steyer would: 

1. "Protect the rights of local governments and not-for-profit organizations, including cooperatives, to build their own networks.  

2. "Mobilize $135 billion in Rural Utilities Service grants and loans alongside private investment for broadband, fiber and next generation networks. [RUS money is dispensed by the Department of Agriculture, not the FCC]. 

3. "Target 60% of the $135 billion in new funding to disadvantaged communities, with at least 10% of the funds set aside to improve connectivity on tribal lands and at least 20% of funds directed to minority-majority communities, including Southern communities of color; and require investor-owned ISPs that receive federal grant funds to subsidize service to low-income residents to end the digital divide. 

4. "Appoint FCC commissioners who support Net Neutrality."

Steyer's plan did not say where the money was coming from.