NEW YORK: CNN Money, the new version of CNNfn, which will launch
later this year, got a major PR boost last week with the return of
Moneyline anchor Lou Dobbs.
Dobbs is being tapped to help the relaunch. He will serve as anchor and
managing editor of CNN's Moneyline News Hour, replacing co-anchors
Stuart Varney, who quit last month, and Willow Bay, who is being offered
other CNN projects.
Dobbs fronted Moneyline for 19 years but quit two years ago to launch
the Internet venture Space.com. Since then, Moneyline's ratings have
plunged 25%, while rival CNBC has gained significant ground in the
Luring Dobbs, a darling of the press, back to CNN is the first piece of
positive news the network has had in some time. The network has suffered
from a ratings decline and layoffs as it reorganized stations, earning
itself the nickname 'Cruel News Network.' Ted Turner, once in direct
control of the Atlanta-based firm, also made headlines earlier this year
by calling catholic staff 'Jesus freaks.' He later apologized.
Few thought Dobbs would turn his back on cable business news for long
and his next role has been the subject of intense media speculation.
Last Monday, The New York Times predicted that Dobbs would land at
either his old haunt, CNN, or perhaps CNBC.
On Tuesday, CNN announced Dobbs' return at a press conference in New
York. The news was immediately picked up by Reuters, among other wire
His return has been welcomed in much the same manner as that of the
proverbial prodigal son, earning CNN, at long last, a PR Play of the