The announcement is said to come on Tuesday, June 26.
I'm still digging and will post more as I confirm this fast developing story.
UPDATE: Okay. I may not be first, but I am ACCURATE. As I reported, the announcement is as stated above, while WSMV first reported Fred would be announcing his entry into the Presidential race.
Now Drudge is linking to WSMV, and as AC over at Volunteer Voters noted, WSMV had to backtrack from this announcement being about his entry into to the race, to what I first reported accurately as to what is happening on Tuesday.
Click HERE to see what WSMV is reporting.