Lou Dobbs to return to anchor CNN's ``Moneyline''
Tuesday, April 10th 2001, 12:00 am
By: News On 6
NEW YORK (AP) _ Business news anchor Lou Dobbs has agreed to return to CNN's ``Moneyline'' in a move the network hopes will boost the once-successful show he started 20 years ago, the network announced Tuesday.
Dobbs quit in 1999 after feuding with Rick Kaplan, CNN USA president. Before his departure, Dobbs was considered the leading financial news anchor and ``Moneyline'' was CNN's most profitable program.
After Dobbs' resignation, the show sank in the ratings behind CNBC's ``Business Center.'' Anchor Stuart Varney, who was host of ``Moneyline'' with Willow Bay, resigned in March.
CNN executives said they hoped Dobbs' return will put ``Moneyline'' and the network back on top after increased competition from the Fox News Channel, MSNBC and CNBC. Dobbs was named managing editor of ``Moneyline'' and he will contribute to the development of CNN's business network, CNN Money.
``Lou Dobbs is, without question, the best business news journalist and anchor in television,'' said Tom Johnson, chairman of the CNN News Group. ``His return to our organization and to the unit that he played such an important role in building underscores CNN's commitment to pre-eminent national and international news coverage.''
The terms of the deal were not disclosed. It is unclear whether Dobbs will retain his ownership stake in the Internet site, Space.com.
Dobbs, contractually prohibited from working for a television news network other than CNN until next year, had entered into a joint venture with CNBC's parent company, NBC, to write a financial newsletter and to produce business news radio reports.