To: quidditch who wrote (32021 ) 6/9/1999 1:00:00 PM From: Ruffian Respond to of 152472
<OT> Bye Lou> CNN's Lou Dobbs resigns By Bloomberg News Special to CNET News.com June 9, 1999, 5:35 a.m. PT Time Warner's Cable News Network said Lou Dobbs, host of its "Moneyline" show and president of the financial news network CNNfn, resigned to help start Space.com, a new Internet venture. David Bohrman, executive vice president of CNNfn, will continue to oversee CNNfn. Jeff Gralnick, executive vice president of CNN Financial News, will continue as the executive in charge of "Moneyline News Hour." Willow Bay and others will be interim anchors for "Moneyline." CNN said Dobbs, 53, an executive vice president and member of the company's executive committee, was leaving on friendly terms. Still, the resignation comes after a highly publicized falling-out with CNN U.S. president Rick Kaplan. "I feel very good about the timing," said Dobbs, who said he leaves CNN Financial with audience ratings of "Moneyline" up 20 percent in the past year and with the CNNfn Web site being one of the more successful Internet addresses for financial news. "I don't think I could have asked to leave on a more positive note," he said. Dobbs will be chairman of Space.com, a new Internet site devoted to news, entertainment, and education about outer space. Dobbs said he has had almost a lifelong fascination with space, building model rockets when he was young and covering several space launches as a journalist. He said he got the idea for the venture a year ago when he had difficulty finding a definitive site about space on the Web. "It's a story that fascinates me and fascinates a larger number of people" than financial news. Interrupted program The squabble with Kaplan erupted on the air last month, when Dobbs displayed his frustration after Kaplan reportedly ordered the network to interrupt "Moneyline" to return to live coverage of President Bill Clinton at a news conference on the high school shooting in Littleton, Colorado. Dobbs's tenure at CNN was uneasy at times, CNN executives said. He threatened to leave in July 1997 because the CNN News Group wouldn't expand the hours of CNNfn. Dobbs decided to stay after the company expanded it to 18 hours from 12. The dispute with Kaplan escalated after a Kaplan deputy reportedly sent out a memo saying that CNN's executive producers can interrupt the "Moneyline" broadcast for breaking news or live coverage. That was followed by a second memo saying that the producers must first consult with "Moneyline" executives before doing so. Dobbs downplayed the friction with Kaplan, saying it had no bearing on his decision to depart CNN. "It's not even an issue," he said. Top-rated show Dobbs was responsible for Cable News Network's CNN Financial News division that produces business news for the CNN network, Headline News, CNN International, CNN Airport Network and CNN Radio in addition to CNNfn, according to the CNNfn Web site. He also hosted "The Moneyline News Hour," CNN's highest-rated business show, and CNNfn's "Business Unusual." Dobbs, who holds an economics degree from Harvard University, joined Cable News Network in 1980 as anchor of "Moneyline." In 1984, he was appointed vice president and managing editor of CNN Financial News. In 1995, he was named executive vice president of Cable News Network and started CNNfn later that year. Bloomberg News competes with CNNfn in providing financial news and information.