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In August 2010, the long-running PBS news program Nightly Business Report was sold by its local station WPBT Miami to a controversial new owner. Today, the program has been sold once again, this time to investment firm Atalaya Capital Management.
For the moment, it does not appear as though much will change–at least to viewers. The program will still be anchored by Tom Hudson and Susie Gharib, and will continue to originate from Miami and New York with WPBT as its presenting station.
More information after the jump.
Nightly Business Report Acquired by Institutional Firm
Public Television Series Will Grow Domestic, International Reporting and Commitment to Digital Initiatives
New York, NY and Miami, FL (November 16, 2011) — NBR Worldwide, Inc. announced today that Nightly Business Report (“NBR”), America’s most-watched daily business news program, has been acquired by Atalaya Capital Management.
“Today’s announcement regarding the sale of Nightly Business Report marks a day of great satisfaction for me, my partners, and the entire NBR staff. We celebrate the realization of many of our short and long term goals over the last 14 months, and now turn the page to an even brighter future. As the next chapter begins, we are all excited about the opportunities that will be afforded to the new owners and their team, and expect NBR’s success on public television to continue,” said Mykalai Kontilai, Chairman and CEO of NBR Worldwide, Inc. “When we purchased NBR, we pledged to expand the program through new growth initiatives, while at the same time preserving the tradition of balanced reporting and analysis that has made it the highest rated business television program for the last 30-plus years, and we feel great about sticking with our pledge. I look forward to working with the new management and ownership during the transition, all of whom share the vision with the resources necessary to build on this great momentum.”
Nightly Business Report, which is co-anchored by Susie Gharib and Tom Hudson, reaches 500,000 viewers every evening and has been on the air for over 30 years. Hudson also serves as managing editor. The program will continue to be produced from Miami and New York, and will work in concert with WPBT-TV in Miami, which will remain the presenting station of NBR.
The program was originally purchased by NBR Worldwide, Inc. in August 2010, which marked the first time that a premier nightly news broadcast produced specifically for public television had been acquired entirely by a private entity. Since the acquisition, Nightly Business Report has expanded considerably:
· Broadcast by more than 350 public television stations.
· Opened four new bureaus across the U.S., including Houston, Phoenix, Denver and Silicon Valley.
· Debuted a new, virtual on-air presentation from its Miami studio in December 2010, providing for a fresh visual look to the program.
· Expanded its reach through a broadcast partnership with SiriusXM radio in May 2011 to air the show nationally five nights per week.
· Negotiated a new prime studio space at the NYSE in June 2011, which provides the telecast with not only a superlative backdrop, but a studio to conduct live interviews as well.
Under the new ownership, NBR Worldwide, Inc. will be led by Rick Ray, a television veteran. Ray grew up in the television business starting first as a production assistant and cameraman in a local television station in Charlotte, N.C. After various positions in station management he and his wife Dee founded RAYCOM, the largest producer of sports programming in the US producing more than 1,200 hours of programming annually for major networks and syndication. Ray’s unique media experience and business skill set will continue the success of NBR.
“I am very excited to be associated with such a wonderful news operation. Nightly Business Report represents a unique opportunity with a 30 year history of bringing the public business news they can trust. In these difficult times investors and consumers alike need the advice and information NBR provides. Mykalai’s leadership in implementing these new growth initiatives is impressive. I look forward to working with the enormously talented and experienced staff to expand the brand and provide greater service to our public television station and their viewers,” said Ray.
“Mykalai Kontilai’s energy has brought an entrepreneurial spirit to Nightly Business Report. Mykalai set in motion an expansion into new endeavors, further cementing NBR as the first and still the best nightly source of financial news and analysis,” said Hudson. “I am excited to build upon that foundation with Rick. His tremendous energy and unequalled track record of successful media leadership will propel NBR into the future.”
“There is no story more important today than the economy. NBR is uniquely placed to bring meaning to the massive amount of data available to our audience each day. Real insight comes from experience – With over 30 years of experience, NBR continues to grow with an understanding of our past and an eye on the future,” continued Tom Hudson.
“Under Mykalai’s leadership, NBR has continued the unbiased, high-integrity business journalism that its viewers depend on” said Rick Schneider, President/CEO of WPBT. “WPBT remains proud to be the production home and presenting station for NBR, and we look forward to working with Rick and the Atalaya team.”
The NBR brand represents an increased focus on expanding the depth of the program’s content as well as the digital sector, which will culminate with the launch of several new initiatives by the end of 2011. The program will launch a new website which will enable viewers to watch updated broadcasts immediately after they air. Several contributors to the program will also add their expertise to an e-newsletter under the NBR brand, which will provide comprehensive news, investment advice, and analysis.
About Nightly Business Report:
America’s longest running business program, the Emmy® award-winning Nightly Business Report has provided business news in a fast-paced, unbiased format for more than three decades. Timely investment information helps viewers manage their money and stay abreast of the news that affects their portfolios. Nightly Business Report premiered as a Miami regional program on January 22, 1979, with national distribution beginning in 1981. Underwritten by Franklin Templeton Investments, Nightly Business Report is distributed live to public television stations at 6:30pm ET every weeknight. Local broadcast times vary.