Entertainment

CNBC cancels Shepard Smith’s ‘The News’ – The Hollywood Reporter

CNBC will wrap up Shepard Smith’s nightly news programming by focusing on evening programming on business and financial news.

News with Shepard Smith will air its final episode in late November. Its replacement will premiere in early 2023, although the title and anchor points for the show have yet to be announced.

Smith joined CNBC in 2020 after a long stint at Fox News. He left the second channel in 2019, surprising the TV news industry and his peers. His assignment at CNBC was to host a live aggregator news show, and while he boosted the channel’s ratings at 7 p.m. – doubling the store’s previous audience in an hour ( although it never reached the numbers of the three major cable news channels, Fox News, MSNBC and CNN).

News set out on a bold mission to deliver fact-based, nonpartisan reporting on the most important stories of the day in the US and around the world,” CNBC president KC Sullivan wrote in a memo. to employees on Thursday (read in full below). “The quality of journalism that Shep and his team sends out every weekday night is exemplary and unaffected by us or our 7 p.m. audience. News boosted CNBC’s 7 p.m. average viewership and attracted the wealthiest audience of any prime-time cable news program. At a time when misinformation and misinformation are rampant, News succeeded in providing the audience with the clearest understanding of the truth. “

CNBC has long sought to retain its daytime audience after the financial markets close, at various times broadcasting talk shows and series with no description such as Profit and repeat Shark Tank. Long-term archives American Greed is the most consistent feature in CNBC’s primetime lineup, running for 15 seasons.

Evening program will replace News with Shepard Smith Sullivan wrote. “This is key in our efforts to continue to build on our position as the number one global business news brand and connect with new audiences of all types interested in the financial future of the world. surname.” The sources stressed that this is not a cost-cutting move but a move made to expand on CNBC’s core strengths.

Sullivan’s full memo is below.

Team,

After spending time in contact with many of you and scrutinizing various aspects of our business, I believe we must prioritize and focus on our core strengths. we are business news and personal finance. This is key in our efforts to continue to build our position as the number one global business news brand and connect with new audiences of all types interested in their financial future.

We need to invest more in business news content that provides our audience with useful insights into complex developments in the global market and the impact on institutions, investors and individual. In times of change and uncertainty, our place in the lives of the people we come into contact with online, online and in person becomes clearer and more essential.

Because of this strategic alignment to our core business, we will need to shift some of our priorities and resources and make some tough decisions.

In the end, we decided that News with Shepard Smith There will be a final newsletter at the end of this month. News set out on the bold mission of providing fact-based, non-partisan reporting on the most important stories of the day in the United States and around the world. The quality of journalism that Shep and his team deliver each weekday night is exemplary and has not been lost on us or our 7pm audience. News boosted CNBC’s 7 p.m. average viewership and attracted the wealthiest audience of any prime-time cable news program. At a time when misinformation and misinformation are rampant, The News has succeeded in providing audiences with the clearest understanding of the truth.

Instead, we will invest in a new Business News program that will launch in early 2023. Decisions like these should not be made hastily or lightly. I believe this decision will ultimately help strengthen our brand and the value we provide to our audience.

Change is difficult, especially when talented people are affected. Over the coming weeks, we will work across the News Team to identify other potential opportunities for many of the impacted employees. Thank you for your unwavering dedication and professionalism as we made these changes.

KC




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