This is a partial transcript of "The Big Story With John Gibson," November 15, 2006, that has been edited for clarity.

JOHN GIBSON, HOST: Our "Big Story": O.J. Simpson's new bombshell about his ex-wife's murder. He has always said he didn't do it, but now he's explaining how he would have done it, if he did it.

Who could forget that Bronco chase down Interstate 405 in southern California a dozen years ago? Who could forget that black leather glove, and if it doesn't fit, you must acquit. Then who could forget this?

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: We, the jury, in the above entitled case find the defendant, Orenthal James Simpson, not guilty of the crime of murder.

(END VIDEO CLIP)

GIBSON: On October 3, 1995, the former football star was acquitted of killing his ex-wife Nicole Brown Simpson and her friend Ron Goldman. He has always maintained his innocence, but now in interview you'll only see on the FOX network, O.J. describes how he would have killed them.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: I have never seen so much blood in my life.

O.J. SIMPSON, ACQUITTED OF MURDER: I don't think any two people could be murdered without everybody being covered in blood.

UNIDENTIFIED MALE: O.J. Simpson. "If I did it, here's how it happened." The two-night event begins Monday, November 27 only on FOX.

(END VIDEO CLIP)

GIBSON: FOX's Geraldo Rivera has covered this story from day one. The host of "At Large With Geraldo Rivera" is with me now.

So what do you think about this almost admission?

GERALDO RIVERA, FOX HOST: I think it's disgusting. I think he's a murdering liar. I think he's demonstrating that he made a fool of the jury in Los Angeles and all of the black community across the country that supported him.

This sleazy, low-down murdering dog who killed his ex-wife, the mother of his children as they slept upstairs, almost cut her head off, who killed Ron Goldman, innocent man, who owes a $33.5 million civil judgment against these poor families. Now he's doing this trick where he can confess to a crime that he obviously committed that a civil jury found he committed and get paid for it and $3.5 million and use the money to buy a house in Florida where it's protected against bankruptcy and creditors.

This guy doesn't cease to insult our intelligence. I think it really is the most appalling thing I've ever seen.

GIBSON: He could just admit it.

RIVERA: He has admitted it. A jury has found it. Let him take out those shoes again. Let him walk around. What do Sydney and Justin, his children...

GIBSON: But why be cute about it?

RIVERA: Why be cute about it is because even though double jeopardy protects him from being prosecuted again, this is a cute way that he and Harper Collins and everybody else involved in this project can put it on with some facade of respectability.

The real story is that he confessed and he should surrender himself, give up his golf clubs, give up those blonde hookers he hangs around with and go to prison.

GIBSON: Do you know what he says in here?

RIVERA: I think the National Enquirer is spot on. They broke the story several weeks ago and they say that what he remembers is, you know, how he and this supposed accomplice named Charlie stalked Nicole. They go to his house because O.J. is outraged, as he was in real life. That she is dating other men. This is after she's divorced him, they stalk her, they go to her house, they hear music, they see her inside wearing suggestive clothing and the candles burning.

Up comes Ron Goldman, the waiter at Mezzaluna, who is returning Nicole's glasses from a dinner engagement where she left the glasses. So this innocent man with everything to live for comes walking up. O.J. is in this rage and this Charlie, O.J. says in this confession, that he had this big knife with him, had a woolen cap, the gloves. He says how Nicole came out, he slugs her, she falls. He kills Goldman, who had assumed the martial arts defensive position. Then he goes kills his ex-wife, almost cutting her head off. Then they go back to the house.

Charlie is amazed that O.J. is stone-cold cool. He then gets in the chauffeured limousine that was already at his house and drives from Rockingham to LAX for that trip to Chicago for a golfing excursion for Hertz. I think this is beyond the pale, John.

GIBSON: You think everybody is going to watch this?

RIVERA: I think they may or may not watch this. I don't know who is going to buy this damn book.

GIBSON: Do you think this is going to attract a lot of attention?

RIVERA: Let me just tell you this. I pledge to you that I will bash this project every minute I have the opportunity to bash this project.

This is an appalling idea. This is a sleaze bag murdering dog and he has played us for fools. And the worst thing he did was exacerbate the racial divide in this country. He divided black and white America.

Johnny Cochran sensed, because of the Rodney King beating video and the acquittal of the cops, subsequent, the white cops who beat that poor man, then the riots that followed. They knew that the African-American community in Los Angeles was prone to disbelieve the cops. Johnny Cochran brilliantly exploited that divide. The defense and Simpson as the leader exacerbated the racial divide in this country. This goes too far.

GIBSON: Is it tantamount to a full confession?

RIVERA: I believe it is. Absolutely.

GIBSON: And doesn't he owe the country a confession?

RIVERA: He does indeed. He owes more than that.

GIBSON: So has he fulfilled his debt by confessing to the crimes?

RIVERA: If he had not done it in this cute way and if he had not taken $3.5 million for it, I might agree with you. To me he has done nothing to clear the slate.

GIBSON: But if he were to write a book...

RIVERA: All he's done is give his children more psychological baggage to carry.

GIBSON: Look, you and I went through this from the get-go, day one.

RIVERA: That's where we met. That's where we became partners.

GIBSON: Yes, exactly. But there's nobody left really that thinks he didn't do it, is there?

RIVERA: Well, if there were, there should not be any longer. That's for sure.

GIBSON: Geraldo Rivera, thanks very much, as always.

Content and Programming Copyright 2006 FOX News Network, LLC. ALL RIGHTS RESERVED. Transcription Copyright 2006 Voxant, Inc. (www.voxant.com), which takes sole responsibility for the accuracy of the transcription. ALL RIGHTS RESERVED. No license is granted to the user of this material except for the user's personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon FOX News Network, LLC'S and Voxant, Inc.'s copyrights or other proprietary rights or interests in the material. This is not a legal transcript for purposes of litigation.