The plug is being pulled on “The News with Shephard Smith.”
CNBC has canceled its primetime general news show hosted by the former Fox News staple two years after its debut.
Network president KC Sullivan announced the move Thursday in an email to CNBC employees, citing a prioritization and refocus on business and personal finance coverage as the cause.
“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,” he said in the memo. “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.”
Sullivan, who took over the reins as president in September, stated that “The News with Shephard Smith” brought in the most affluent audience of any primetime cable news program.
“At a time when misinformation and disinformation is rampant, ‘The News’ succeeded in providing audiences with the clearest understanding of the facts,” he added.
The network’s first nightly newscast since 2004 bolstered CNBC’s primetime TV ratings, but will come to an end on an unspecified date later this month.
The basic cable channel plans to replace the 7 p.m. timeslot with markets coverage until a new live show focusing on business news premieres in 2023.