NBCUniversal’s CNBC host and former Fox News anchor Shep Smith has reportedly been terminated from his role as the network undergoes a major shakeup.
Senior correspondent at Puck, Dylan Byers, shared the news Thursday afternoon.
“SCOOP: NBCUniversal is about to undergo significant layoffs and cost cuts in the weeks ahead, sources familiar tell me. This will start with Shepard Smith and his team,” Byers tweeted.
SCOOP: NBCUniveresal is about to undergo significant layoffs and cost cuts in the weeks ahead, sources familiar tell me.
This will start with Shepard Smith and his @thenewsoncnbc team.
More to come @PuckNews
— Dylan Byers (@DylanByers) November 3, 2022
Smith’s show, “The News with Shepard Smith,” will be replaced with markets coverage until executives finalize a new live show focusing on business, CNBC reported. Smith will depart the network toward the end of the month, according to the report.
“After spending time with many of you and closely reviewing the various aspects of our business, I believe we must prioritize and focus on our core strengths of business news and personal finance,” CNBC President KC Sullivan said in an email to employees, according to CNBC. “As a result of this strategic alignment to our core business, we will need to shift some of our priorities and resources and make some difficult decisions.”
The company is reportedly set to help members of Smith’s team find other opportunities at NBC News Group.
Smith joined the network after leaving Fox News.
This story will be updated as more information becomes available.