Tag Archives: Nightly Business Report
by Chris Roush
WLRN Public Radio and Television in Miami has named Tom Hudson, former anchor of “Nightly Business Report” on public television, as vice president of news.
A story on its website states, “Hudson joined WLRN in 2013 as a special correspondent, creator and host of The Sunshine Economy. He also hosts The Florida Roundup, WLRN’s award-winning, weekly public-affairs program.
“‘At this time of great change for the media industry, accurate, reliable and analytical news coverage has never been more in-demand,’ Hudson said. ‘WLRN is positioned with its partners, NPR and the Miami Herald, to provide more in-depth, more innovative and more meaningful news coverage for South Florida.’
“Hudson previously was the co-anchor and managing editor of the Nightly Business Report on public television. While Hudson was co-anchoring and managing NBR, the program was awarded the 2012 Program of Excellence Award by American Public Television. He graduated Phi Beta Kappa from the University of Iowa and is the recipient of several professional honors and awards for his work in journalism.”
Read more here.
by Chris Roush
TheStreet.com announced Wednesday that it will sponsor “Nightly Business Report” for the fourth quarter, marking the company’s second sponsorship of the program this year.
The sponsorship will span 65 episodes from Oct. 1 through Dec. 31, each featuring two 15-second funding credits at the beginning and end of the show.
“TheStreet and ‘Nightly Business Report’ have a natural synergy and a shared goal of empowering people with actionable news and information when it comes to their money and investments,” said Elisabeth DeMarse, CEO and chairman of TheStreet, in a prepared statement. “We’re excited to once again support the longest-running business television program in the country and extend TheStreet’s reach to their audience.”
Initially, TheStreet’s sponsorship campaign will highlight Dividend Stock Advisor, one of its subscription services focused on dividend stocks. TheStreet’s funding credit was produced by Houpla Inc. which also designed and implemented TheStreet’s studio and production facilities.
“Nightly Business Report,” co-anchored by Tyler Mathisen and Susie Gharib, features in-depth coverage and analysis of the biggest financial news stories of the day and access to some of the world’s top business leaders and policy makers.
by Chris Roush
Tyler Mathisen co-anchors CNBC‘s “Power Lunch” and is vice president for strategic editorial initiatives working closely with CNBC’s business development and marketing teams on strategic initiatives and alliances.
Mathisen also co-anchors “Nightly Business Report produced by CNBC,” an award-winning evening business news program for U.S. public television that CNBC acquired earlier this year.
Previously, Mathisen was managing editor of CNBC Business News responsible for directing the network’s daily content and coverage. Mathisen also hosted CNBC’s “High Net Worth.”
Prior to this, Mathisen was co-anchor of CNBC’s “Closing Bell with Maria Bartiromo” and “Tyler Mathisen.”
Mathisen has reported one-hour documentaries for the network including “Best Buy: The Big Box Fights Back” and “Supermarkets Inc: Inside a $500 Billion Money Machine.” Mathisen is also the host of the CNBC series “How I Made My Millions.”
Before joining CNBC in 1997, Mathisen spent 15 years as a writer, senior editor and top editor at Money magazine. Among other duties, he supervised the magazine’s mutual funds coverage, its annual investment forecast issue and its expansion into electronic journalism, for which it won the first-ever National Magazine Award for New Media in 1997.
He spoke earlier this week by email with Talking Biz News about “Nightly Business Report.” What follows is an edited transcript.
What attracted you to the “Nightly Business Report” opportunity?
“Nightly Business Report” (NBR) is the longest-running, most carried business news television program with an established, very loyal and sophisticated national audience. And, relatively little of that audience spends a lot of time watching CNBC during the day. So, the chance to speak to a new, large group of viewers was very appealing to me, and to all of us at CNBC.
NBR is a great addition to CNBC’s already diverse multi-media offerings which include cable programming, a full suite of digital products, radio, and our international networks and local language affiliates. This is a great opportunity for CNBC to expose its brand and editorial capabilities to a new, national audience. CNBC wants to be where the business audience is and CNBC wasn’t on terrestrial television.
How is it different from what you were doing for CNBC?
During the day, CNBC reports on the “game” in real time, as it is happening in the markets.
At the end of the day, NBR can step back, make editorial choices about what to put in and leave out, and, create a thoughtful narrative about the day and the current state of the economy. During the day, there’s more of a breezy, spontaneous, as-it’s-happening feel to what I do on CNBC. In the evening, it’s a little more structured, a little more oriented to nuanced storytelling and interviewing.
What do you think CNBC brings to “Nightly Business Report” that it previously didn’t have?
CNBC’s vast global editorial resources and depth. CNBC has bureaus and affiliates around the world. NBR didn’t have that. We’ve got the depth and financial strength to send reporters to where the news is happening, whether in China, Cyprus or Moline, Ill. That’s a real advantage that I think will reveal itself more and more to viewers over time. We also have reporters who cover specific beats. Not that the prior NBR didn’t effectively have that, but we have more reporters concentrating on more individual subject areas and companies – banking, retail, M&A, etc.
How are the audiences different for CNBC and NBR? Do you adjust your coverage due to that?
NBR has a broad audience comprised mostly of at-home viewers. CNBC has many at-home viewers, but has a sizeable amount of out-of-home viewing in offices, on trading floors, in gyms, hotels, etc. Both are highly-educated and more affluent than the average.
But, the broadcast audience is less interested in trading, in market minutiae, in the “inside baseball” of the markets and the exchanges. It is no less interested in making money, but it is less interested, I believe, in trading stocks than in investing in them for the long haul.
What type of stories does the Nightly Business Report viewer want?
They want stories, I believe, that educate, enlighten, inform and, from time to time, hopefully entertain.
How do you work with Susie during the day to prepare for each show?
We have two editorial meetings where Susie, the production team and I bat around story ideas, find out what CNBC’s news team is working on and then devise a skeleton for the show. The first meeting is in the morning, at 10 a.m. The second is at 3:15 p.m. and is really just a reality check to make sure that what we thought was smart at 10 still is at 3:15. So Susie and I always help shape the day’s agenda, and sometimes we drive it.
What else is involved in putting the show together each night?
We work closely with the CNBC news desk to arrange for reporters, video feeds, remote shots and more. This way, the program has a high-production feel and is as compelling and visually stimulating as possible.
With just 30 minutes, how do you pick the important business and economic stories of the day?
Most of the people involved in the program have been working in business news for a long time. I’ve been in the game for 31 years, for instance. So we collectively know what’s important and what’s not. Deciding what to leave out is, if anything, more important than deciding what to put in (just as it is in most TV news production). Some days it’s pretty obvious what needs to be included; other days, you have to be more creative or choosy.
Where do you see room for improvement in the show?
I think we can eventually make even more use of our worldwide CNBC resources and begin to weave in contributions from other parts of NBC News, The Weather Channel, NBC Sports, etc. We haven’t begun to scratch the surface there yet.
What’s been the biggest surprise so far in working on the show?
Perhaps the most surprising was to find out how loyal the viewers are and how passionate and connected they are to the broadcast. Many of the viewers have been watching it, if not for all 32 seasons, for years and years. They have a real history with the program and its people. It runs deep with them. It’s a habit, and we’ve tried to be respectful of the legacy bond the program has with its viewers while strengthening and evolving the program by drawing upon CNBC’s vast global editorial resources.
by Chris Roush
“TheStreet is all about helping our users and subscribers become better investors,” TheStreet’s chairman and CEO, Elisabeth DeMarse stated in a prepared statement. “Our audience is naturally aligned with that of NBR, the longest-running business television program.”
“Nightly Business Report” reaches 96 percent of U.S. households.
“We are proud to have this award-winning, public television program as part of CNBC’s portfolio of multi-media offerings and are very pleased to welcome TheStreet as the inaugural sponsor,” said Robert Foothorap, senior vice president, CNBC Global TV Network Sales, in a statement.
TheStreet’s sponsorship includes two 30-second funding credits, featured at the beginning and end of “Nightly Business Report,” running April 1 to June 28.
by Chris Roush
The Street.com has named business television journalist Ruben Ramirez as its assignment editor and head of video content.
Ramirez will be based at The Street’s New York City headquarters.
“The Street is thrilled to have somebody of Ruben’s experience and talent helping guide our state-of-the-art video operations,” said William Inman, editor-in-chief, in a statement.
Ramirez will be responsible for developing, executing and overseeing video content for TheStreet.com, MainStreet.com and TheDeal.com. He will report to Inman.
Ramirez was most recently the national assignment editor and a correspondent for PBS’ “Nightly Business Report” based in New York. He has also held positions at Reuters Television, CNNfn, the financial network of CNN, and CNBC. Ramirez began his career at ABC News in New York.
Ramirez holds a B.S. in business administration with a focus in finance and broadcast journalism from Boston University.
In addition to his commitment to broadcast journalism, Ramirez also devotes his time as a national board member to The Trevor Project, the leading national organization providing crisis and suicide prevention services to LGBTQ youth across the United States.
by Chris Roush
The new “Nightly Business Report” show on public television — now produced by CNBC — will air its first show on Monday.
As part of the first show under CNBC’s watch, billionaire investor Warren Buffett answers questions from viewers.
Also on the show tonight will be an examination of the first business day with the sequester budget cuts in full effect. The segment will analyze the impact on various sectors and on Americans with California Congressman Ed Royce and Delaware Gov. Jack Markell.
And, the show kicks off a week-long series “In Focus: The American Recovery.”
by Chris Roush
“Nightly Business Report” co-anchor Susie Gharib bid co-anchor Tom Hudson adieu at the end of Friday’s show.
Starting Monday, the show is being produced by CNBC, which replaced Hudson with Tyler Mathisen.
Here is the transcript:
HUDSON: Finally, tonight marks the end of a chapter and the beginning of a new one in the legacy of this program, NBR. Since 1979, this program has been based in Miami. Tonight that comes to an end at the close of our program. On Monday cable financial news channel CNBC takes over producing NBR. Now the program will remain right here on public television and I am fully confident its future is bright with our colleagues at CNBC. For most of us here with NBR, this will be our last evening with the program.
And speaking for all of us here, it has been quite an honor to work for the program. It certainly occupies a very special place really because of your support—the viewer. You have never been shy about letting us know when we have come up short of your high expectations and when we exceed those expectations, nor have you been shy about expressing your loyalty. So let me thank you for inviting me, inviting us into your home, onto your laptop, on your tablet, maybe even on your smart phone. Susie this isn’t good bye certainly for many of us. It is just see you next time.
GHARIB: Oh I hope so Tom. I’m really going to miss working with you. It’s been a lot of fun and I think we’ve done some great things together and I’m going to miss working with all the other creative, hard-working people, past and present, who really made NIGHTLY BUSINESS REPORT a success over these past three decades. But picking up on what you just said, NIGHTLY BUSINESS REPORT is starting a new chapter.
So I will be back on Monday with the program that so many viewers, all of you watching have grown to trust. And NIGHTLY BUSINESS REPORT I promise you will still be covering the business and economic stories that are important to you and with the same unbiased and thoughtful analysis. The program will also have the added resources and support of CNBC. So good luck to you and of course we always have to have some noise here at the New York Stock Exchange to make it feel like it’s a regular night, but good luck to you, Tom and everyone at NIGHTLY BUSINESS REPORT.
HUDSON: The sound of progress, Susie, the sound of progress. That is NBR for this March 1st, Friday night. Have a great evening and we’ll see you Monday, Susie
GHARIB: Good night, Tom and thanks everyone for watching and I’d like to just turn to something that Paul Kangas would always say. I won’t say it as good as he does, but wishing you the best of good buys.
Read the rest of the transcript here.
by Chris Roush
Tom Hudson, the co-anchor for “Nightly Business Report” who was laid off last month, writes in the Miami Herald about the experience.
Hudson writes, “What’s nice about sharing your employment woes with the entire community is the outpouring of support you get. I received dozens of emails from friends, fans and colleagues across the country, expressing sympathy and pledging to help any way they could. It is humbling to hear how you have impacted people’s lives, especially those you don’t know directly. The range of emotions you feel when you face a job loss can be overwhelming, but a short email or voicemail from an associate can lift your spirits, giving you the strength to press on. The medium of the messages does not matter. A tweet of support, LinkedIn endorsement or text message of sympathy fuels the encouragement to face the anxiety of joblessness.
“After news of my job elimination was in the newspaper and blogosphere, there were compassionate glances from fellow parents on the sidelines of the kids’ weekend soccer games. I didn’t have to break the news — most had already read about it. A pedestrian on the sidewalk stopped me in mid-stride to express his disappointment. The inevitable questions came: What are you going to do? Will you stay? Do you have anything you’re working on?
“I am lucky my employment status was on the business front page. Thousands of other people are treated as statistics. As a business journalist, I have been guilty of that. Company layoffs numbering in the dozens as ours did rarely demand attention. The cuts have to be in the thousands to have any hope of getting much media attention. Even then, it’s only a number.
by Chris Roush
“Nightly Business Report,” the 34-year-old nightly business news show that airs on public television stations across the country, will start being produced by CNBC, according to a deal announced Thursday afternoon.
The program had lost its key sponsor, Templeton Franklin Investments, at the end of August, and had been underwritten by its current owner. But executives involved with the program stressed that operating model was not sustainable, so CNBC’s involvement will keep the show going.
“The key point for us is that it survive,” said Cynthia Fenneman, president and CEO of American Public Television, in a phone interview. “Without this, the show would likely not to continue to exist.”
Current co-anchor Tom Hudson will be replaced by Tyler Mathisen. Susie Gharib, the other co-anchor, will remain on the show, which plans to keep its current format.
The first CNBC-produced “Nightly Business Report” show will air on March 4 from the business news network’s headquarters in Englewood Cliffs, N.J. It has previously been broadcast from WPBT2 in Miami and from a New York studio. “Nightly Business Report” launched in Miami in January 1979. It became a national program in 1981.
“For us, we see this as a way to add to our comprehensive suite of multimedia products,” said Nik Deogun, senior vice president and editor in chief of CNBC, in a telephone interview with Talking Biz News on Thursday afternoon. “This is a way for us to address the public television market with very high-end business news.”
Journalists currently working for the show will be able to apply for jobs with CNBC, said Deogun.
“We will be interviewing people from NBR,” said Deogun. “We have a lot of respect for Tom, but we like the combination that we have. It is a great brand with a long tradition. We’re happy to keep it on public television and keep that great brand.”
The show will be able to tap into CNBC’s 200 journalists and nine bureaus, added Deogun.
The show, which has been based out of Miami since 1979, has been undergoing some dramatic changes in recent years, including being sold twice before.
“We started this show way before CNBC, and it’s been a show that has really stood the test of time,” said Linda O’Bryon, who was one of the original co-anchors of “Nightly Business Report” and its founding executive editor. “I think it has helped to foster a better understanding of the economy. I like forward to seeing this new chapter.”
Atalaya Capital Management acquired the program for an undisclosed price in November 20111. Six-year-old Atalaya is based in New York and has primarily been an acquirer of corporate and real estate debt. Terms of Atalaya’s sale of the program to CNBC were not disclosed.
The show was acquired in 2010 by Mykalai Kontilai, who had been overhauling its operations before selling it to Atalaya.
In addition, the show has closed its Chicago bureau, resulting in the layoffs of seven staffers, in December 2012. The show laid off eight people in November 2010. Last year, its managing editor and executive vice president lost their jobs.
In an email to Talking Biz News, Hudson thanked his co-workers.
“I am very proud of the work we accomplished at NBR,” he said. “This is the program that helped invent modern financial television news more than 30 years ago. I consider myself honored to have worked with all the professional broadcasters considered part of the NBR family. Working to fulfill the high expectations of the NBR audience every night has been a rewarding experience. Working alongside NBR’s talented staff has been among the professional highlights of my career. I thank the viewers, underwriters, our public television member stations and my co-workers for the opportunity.
“The correspondents, producers, editors, videographers, associate producers, graphic producers, web editors and production personnel are the heart and soul of NBR,” added Hudson. “I thank them for their skills, creativity and collaboration.”
CNBC will continue to produce “Nightly News Brief,” a short synopsis of the day’s business news events, for public television stations, and will also support the program’s website, NBR.com.
Mathisen had actually talked to the show about replacing long-time anchor Paul Kangas when he left the show at the end of 2009, but was not willing to move to Miami, the show’s longtime base.
by Chris Roush
Robert Feder of Time Out Chicago writes about the layoff of “Nightly Business Report” Chicago bureau chief Diane Eastabrook, who lost her job after 20 years with the business news show.
Feder writes, “The loss last August of the production’s sole underwriter, Franklin Templeton Investments, only added to the unease among the decimated staff. So while the latest cutbacks didn’t come as a complete surprise, Eastabrook said she thought she might survive at least until the first quarter of next year.
“‘Obviously, I’ve seen what’s happened in the media world, the cuts that have gone on, not just with us but everywhere — at all the networks,’ she said. ‘I guess I’ve been very fortunate that I’ve had the long run that I’ve had.’
“A native of Pekin, Illinois, and journalism graduate of Northern Illinois University, Eastabrook worked for stations in Wausau, Wisconsin; Peoria, and Albany, New York, before joining Nightly Business Report in 1993. Traveling across the country, she covered a wide-ranging beat, including the auto industry, airlines, manufacturing, agriculture, commodities, housing and small business.
“Hudson called her ‘one of the most gifted storytellers and resourceful reporters in broadcasting.’ What he didn’t say was that without her — or any other full-time presence in the Midwest — there’s a risk the show will become even more myopically focused on New York and Washington.”
Read more here.