TVNewser has obtained an internal memo announcing the cancellation of BusinessWeek TV at the end of the year. BusinessWeek TV is a weekly half hour newscast seen on local stations across the country. The memo was sent by BusinessWeek president Keith Fox to the staff Friday.
As we compete for both readers and ad revenue it is critical that we focus on our core assets that best serve and reach global business professionals. As a result, we have decided to concentrate on developing digital video content and will exit BusinessWeek TV at the end of the year. We believe this is the best approach to fulfill the needs of our highly-engaged, global audience.
While there is no question that the programming is first-rate and has strong ratings, BusinessWeek TV’s reach as a weekend morning show doesn’t align with our core audience of global business leaders. We remain proud of the team that produces BusinessWeek TV and are sincerely grateful for their contributions, and wish them well as they embark on new opportunities. The individuals who are affected have been notified.
I want to personally thank the BusinessWeek TV team for all their hard work and efforts. In the coming days, I will be reaching out to the teams to discuss further.
Jill Bennett is the anchor of BWTV. Eric Gonon is the EP. He joined BusinessWeek from CNBC where he helped create Mad Money with Jim Cramer.