Business Media: 06.08.06

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We're getting requests for more business media coverage (Conde Nast Portfolio-stalking, Fox News business channel baiting, etc.) and we're happy to oblige. Herewith, a couple of biz media items:
NOT YOUR FRIEND ANYMORE
[Breaking] DealBreaker has learned that CNBC SVP of business news, David Friend, is leaving CNBC "to pursue other opportunities" after 8 years there. His successor is 'On the Money' Executive Producer, Jonathan Wald, who "will oversee CNBC broadcasts from 4 AM-8 PM, which includes Business Day programs, as well as 'Kudlow & Company,' 'Mad Money w/Jim Cramer,' and 'On the Money.'" (Memo after the jump)
PORTFOLIO (FOR WOMEN)
From this week's Ad Age (addressed to our ad sales guy, "Senator David Minkin"), [Conde Nast's new biz mag]Portfolio's** initial rate base: 350,000. From an earlier Times piece: the expected demographic: 60% male, median age of 42. Given that most biz mags skew heavily male (DealBreaker is 82% male), the implication is that they're aggressively targeting women.
** We just can't... be... bothered... to include the Dutch currency symbol they're inexplicably using to replace the "f" in "Portfolio."


JONATHAN WALD NAMED CNBC SENIOR VICE PRESIDENT, BUSINESS NEWS
ENGLEWOOD CLIFFS, N.J., June 8, 2006---Jonathan Wald was named CNBC Senior Vice President, Business News, effective immediately, it was announced today by Mark Hoffman, President, CNBC. Wald succeeds David Friend, who has decided to leave CNBC to pursue other opportunities. In his new position, Wald will report to Hoffman.
Wald, who started at NBC News in 1983 as a desk assistant, joined CNBC in 2004 and assisted in primetime strategy and program development. Most recently, Wald was Executive Producer of "On the Money," CNBC's 7 PM program where business news intersects with popular culture. Under Wald's editorial and creative direction, "On the Money" became one of CNBC's fastest growing programs. Ratings for the one-hour broadcast have grown 72% since it began in October 2005 and is now delivering ratings for the desired Adults 25-54-year-old demographic that are 20% higher than the same period a year ago. And, beginning June 19th, by popular viewer demand, "On the Money" will be repeated each evening on CNBC at 11 PM ET/8 PM PT.
In his new role, Wald will oversee CNBC broadcasts from 4 AM-8 PM, which includes Business Day programs, as well as "Kudlow & Company," "Mad Money w/Jim Cramer," and "On the Money."
At NBC News, Wald held various senior leadership positions, including Executive Producer of "NBC Nightly News with Tom Brokaw" and Executive Producer of "Today."
"I'm thrilled to have Jonathan Wald, who has made significant contributions at CNBC and NBC News and has proven himself to be an innovative producer and leader, assume a larger role at CNBC," Hoffman said. "I want to thank David Friend for all of his great work over the past eight years at CNBC. David has built a management infrastructure and executed a vision of compelling programming, interesting debate and actionable information programming. I wish him well in his future projects."
Wald said, "I'm honored to be a part of the winning tradition at CNBC that's created the pre-eminent worldwide television business news channel."
Wald's appointment comes as CNBC's Business Day ratings in May 2006 rose 100% over the same month a year ago. CNBC's Business Day ratings have increased 86% in the 2nd quarter '06 compared with the 2nd quarter '05. In May 2006, all Business Day programs were up double or triple digits in percentages over May 2005.
CNBC's viewership is higher-much higher-when you add the large unmeasured audience that watches television at "out of home" locations that are unrated. Nielsen Media Research doesn't accurately measure CNBC's viewership as Nielsen's audience universe is limited to "in-home" measurement and doesn't include "out-of-home" viewing in such locations as trading floors, offices, C-suites, restaurants, health clubs, hotel rooms and numerous other locations where the affluent and intelligent watch television. According to Mendelson Media Research, CNBC viewers hold top management positions and actively manage their diverse portfolio holdings.

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