'Moneyline' host Dobbs quits CNN
Last Update: 10:58 PM ET Jun 8, 1999
NewsWatch
NEW YORK (AP) - Lou Dobbs, one of television's most prominent
financial journalists, resigned from CNN on Tuesday after reports he had
been clashing with CNN's top executive.
Dobbs has been host of CNN's nightly financial wrapup show,
"Moneyline," and is also president of the spinoff financial network,
CNNfn.
Dobbs will leave his position on Friday to launch a
new Internet venture, Space.com, a Web site for
news, entertainment and educational content on
space, CNN said.
Dobbs did not return a telephone call seeking
comment. He was replaced on "Moneyline" on
Tuesday by Tony Guida.
In a statement released by CNN, Dobbs said he
was looking forward to the opportunity to build
"the world's leading Web site on space."
"I leave with the utmost respect for the
organization, and for the news professionals it has
been my pleasure to work alongside," Dobbs said.
Just two weeks ago, Dobbs was involved in an
unusually public tiff with CNN president Rick
Kaplan. A visibly unhappy Dobbs interrupted
"Moneyline" to cover a president news conference
from Colorado, telling viewers it was under Kaplan's orders.
It prompted a Kaplan deputy to issue memos stating that CNN's
executive producers have the authority to break into "Moneyline" to cover
news when warranted.
There reportedly has been ongoing tension between Dobbs and Kaplan,
with the Wall Street Journal saying that Dobbs had complained internally
about money being spent on "NewsStand," the newsmagazine series that
Kaplan has championed.
Kaplan did not immediately return a telephone call seeking comment.
CNNfn has run a distant second in influence to CNBC, the cable leader in
business news. CNBC is seen in 69 million homes, while CNNfn is
available in less than 10 million.
Yet Dobbs' "Moneyline," shown weeknights for an hour at 6:30 p.m.,
draws more than twice as many viewers as CNBC's competing "Business
Center."
"He is one of the people who helped put business news on the map in
television," said George Jamison, a CNBC spokesman. "He was a strong
competitor and a respected journalist. This is a big loss for CNN and
CNNfn."
Dobbs joined CNN in its inception in 1980 as chief economics
correspondent and anchor of "Moneyline." Over the past two decades, he
has served in numerous roles and was responsible for CNNfn's launch in
December 1995.
It's the second resignation of a prominent on-air CNN personality this
spring. International correspondent Peter Arnett, who was out of favor at
the network following last year's "NewsStand" report about Vietnam
veterans that was later retracted, also resigned.
David Bohrman, executive vice president of CNNfn, will oversee the
financial network. Jeff Gralnick, executive vice president, CNN financial
news, will be in charge of "Moneyline" and other financial news
programming.
Willow Bay, who is host of two "NewsStand" editions, and others will
serve as interim anchors for "Moneyline," CNN said.
© 1999 The Associated Press - All Rights Reserved. The information in this report may not be
published, broadcast, rewritten or redistributed without the prior written authority of The
Associated Press.
|
