Former Fox News host Shepard Smith got some bad news today after his new network CNBC gave him the boot and canceled his show.
CNBC said it’s going in another direction and axed his show “The News with Shepard Smith” after just two years.
“After spending time with many of you and closely reviewing the various aspects of our business, I believe we must prioritize and focus on our core strengths of business news and personal finance,” CNBC President KC Sullivan said in an e-mail to CNBC employees.
“As a result of this strategic alignment to our core business, we will need to shift some of our priorities and resources and make some difficult decisions.”
“We need to further invest in business news content that provides our audiences actionable understanding of the complex developments in global markets and the implications on institutions, investors, and individuals.
“During times of flux and uncertainty, our place in the lives of those we touch on-air, online, and in-person becomes even clearer and more essential.”
Here’s the memo from CNBC president KC Sullivan, noting that the network plans to “shift some of our priorities and resources and make some difficult decisions.” pic.twitter.com/jmHnqyiIrf
— Max Tani (@maxwelltani) November 3, 2022
“The quality journalism Shep and his team delivered each weeknight was exemplary and not lost on us or our 7pm audience.
“‘The News’ increased CNBC’s 7 pm viewership average and attracted the most affluent audience of any primetime cable news program.
“At a time when misinformation and disinformation are rampant, ‘The News’ succeeded in providing audiences with the clearest understanding of the facts.
“Decisions like these are not arrived at hastily or taken lightly.
“I believe this decision will ultimately help to strengthen our brand and the value we provide our audiences.”
— Semafor (@semafor) November 3, 2022