Moammar Khadafy is Dead; Killed in Fierce Gun Battle

Libyan dictator Moammar Khadafy is dead, killed in a fierce gun battle with insurgents in his hometown on Thursday.

"We have been waiting for this moment for a long time. Moammar Khadafy has been killed," Libyan Prime Minister Mahmoud Jibril said at a news conference in Tripoli.

The National Transition Council said its fighters found Khadafy in the town of Sirte, where he was born and maintained his last bastion of support. He was reportedly killed when his convoy was attacked as it tried to leave town. Al Jazeera aired video of what appeared to be the dead dictator, lying shirtless in a pool of blood.

After several weeks of fighting, rebels finally took over the town and now control the entire country.

Khadafy ruled Libya with an iron fist for 42 years. His death sparked wild celebrations in the streets of Libya.

Jibril said the rebel government will wait until later today or Friday to officially declare what it calls a state of liberation.

Video of the dictator being captured:

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