James Whale has withdrawn his legal action against former employer talkSPORT.
Whale, who had presented at the stations for 11 years, was fired from his late night phone-in four months ago for asking listeners to vote for Boris Johnson in the London mayoral election.
According to the Guardian, Whale has stated he does not have the funds to continue pursuing the unfair dismissal claim against the station.
Whale said: "I felt I deserved better than to be sacked, but the fact of the matter is that the legal system in this country precludes an individual taking on a big company. I have run out of funds and I just could not continue."
The presenter will begin hosting drivetime on London's LBC 97.3 in November.