Shepard Smith will leave CNBC later this year, according to the network’s announcement on Thursday that it will end his programme as part of a “strategic realignment” under new management. CNBC is a business-focused news outlet.
Later this month, “The News with Shepard Smith” will air its final edition. A little more than two years ago, CNBC began the programme in the hopes that a straightforward, down-the-middle news programme would find an audience.
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In a statement to staff members on Thursday, CNBC President KC Sullivan stated that “‘The News’ set out on a bold mission to provide non-partisan, fact-based reporting on the most significant topics of the day in the U.S. and throughout the world.” “Neither we nor our audience at 7 o’clock were unaware of the exceptional journalism Shep and his team produced each weekday.”
The termination of Smith’s 7 o’clock programme marks Sullivan’s first significant action since succeeding longstanding CNBC president Mark Hoffman in September.
Smith’s show will be replaced in early 2023 by a business-focused programme, according to Sullivan, who told staff members he intended to devote more resources to financial news.
In his memo, Sullivan stated, “After spending time with many of you and carefully examining the numerous facets of our business, I feel we must prioritise and concentrate on our fundamental strengths of business news and personal finance.
However, Sullivan admitted that the “strategic realignment” would need “some tough judgments.”
Change is challenging, especially when talented, honourable individuals are involved, he wrote.
There were roughly 20 people working on Smith’s show. The News Group will “work together to discover other potential opportunities,” according to Sullivan, for CNBC.
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After departing the right-wing broadcaster Fox News due to differences with recent editorial choices, Smith was hired by Hoffman.
Smith claimed that Hoffman had given him “CNBC’s vision for a fact-based, hour-long evening news programme with the objective to break through the static and deliver facts, in context and with perspective” at the time of his hiring.
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