Parker is a Pulitzer Prize-winning columnist who appears in more than 400 newspapers.
Spitzer was a renowned prosecutor before being elected State Attorney General. Two years ago he left the governor's mansion in disgrace, following a prostitution scandal.
In recent months, Spitzer has been increasingly visible on cable-news programs, leading to speculation he would land a permanent job on the air.
His new program, set to air at 8 p.m. EDT weeknights starting this fall, recalls CNN's old "Crossfire" debate show.