By Liana B. Baker
Nov 18 Business television presenter Maria
Bartiromo is leaving broadcaster CNBC after 20 years to take a
job at rival Fox Business Network, according to a source
familiar with the matter.
CNBC President and Chief Executive Mark Hoffman announced
Bartiromo's departure in a memo to employees on Monday and said
she will leave the company when her contract expires on Nov. 24.
Hoffman did not say where Bartiromo was going, but a source
familiar with the matter confirmed media reports that she was
headed to Fox Business Network, the cable broadcaster founded
six years ago by Rupert Murdoch's Twenty-First Century Fox Inc
to take on CNBC, owned by Comcast Corp.
A Fox spokeswoman said she did not have any announcement to
make on Bartiromo on Monday.
The Fox Business Network, launched in October 2007, become
profitable in June but trails CNBC in the ratings.
Bartiromo, 46, is expected to also appear on sister network
Fox News, the No. 1 cable news channel in the ratings, the
Bartiromo joined CNBC in 1993 and became the first
journalist to report daily live from the floor of the New York
Stock Exchange. Nicknamed the "Money Honey," she was the anchor
on CNBC's "Closing Bell," which aired for two hours during the
week, and a half-hour show on Sundays called "On the Money."
"She has been at the center of every major financial and
business news story, working hard for CNBC, since her earliest
days fighting it out on the floor of the New York Stock Exchange
in the mid-90s," Hoffman said in the memo obtained by Reuters.
Hoffman added that the network will use various anchors on
an interim basis before it finds permanent replacements.
In 2007, Bartiromo was in the news for her ties to a senior
Citigroup executive who spent $5 million of corporate
funds to sponsor a show on the Sundance Channel that would
include Bartiromo as a host. The executive later lost his job.
In July 2004, Bartiromo was criticized for interviewing
Citigroup Chairman Sanford Weill while owning 1,000 shares of
the bank's stock, which she disclosed at the beginning of the
interview. CNBC later barred news staff and managers from owning
individual stocks or corporate bonds.
Bartiromo has won two Emmy awards and written several books
as well as columns for magazines and newspapers, including USA
Today. She is married to Jonathan Steinberg, the CEO of ETF
provider WisdomTree Investments and son of former corporate
raider Saul Steinberg.