CNBC Buys ‘Nightly Business Report’

February 22, 2013  •  Post A Comment

CNBC has bought "Nightly Business Report" from the investment company Atalaya Capital Management and will start producing it from its New Jersey headquarters on March 4, reports Elizabeth Jensen in The New York Times’ Media Decoder.

While the format will remain the same, CNBC’s Tyler Mathiesen will anchor the show with Susie Gharib, the current co-anchor. Gharib is under contract through 2013. The remaining staff of 18 and co-anchor Tom Hudson will depart, the piece adds.

The purchase is "a good thing for the program and for the public television system," said Rick Schneider, the president of the Miami public station WPBT-TV, where the show is now based. "‘NBR’ has always lacked having a major news-gathering organization behind it.”

Jensen notes, "The purchase is the show’s third change of hands in less than three years. In August 2010, Mykalai Kontilai, an entrepreneur and former mixed martial arts manager, bought it from WPBT, which founded the show in 1979 before the era of 24-hour cable business news. Atalaya Capital Management, Mr. Kontilai’s backer, took over in November 2011, after few of Mr. Kontilai’s ambitious expansion plans were achieved."

2 Comment

  1. Public broadcasting, tons of public funds, but secret deals with “undisclosed” terms and dollar amounts — when their public wants to know. There’s a problem with that model. Also, not a mention of the latest Nightly Business Report horse-trade on NPR or Marketplace. How strange is that?
    Only a weak link of Nightly Business Report was retained; the show is dead. And many PBS viewer-members are disgusted.

  2. Wow, you might as well sold it to Fox !This group goes against everything PBS stands for and will use this platform to undermine the PBS viewers and insert the crony capitalism of wall street and the banksters that recently crashed our economy !

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