Shep Smith's news flop reminds me of Megyn Kelly's. And there's a lesson here

[Bucky]

So, Shep Smith left Fox for big money at a mainstream News Network... and his millions of viewers failed to show up. There's an important lesson in this, from a purely economics viewpoint.

Inside Shepard Smith’s Post-Fox News Crash on CNBC
Lachlan Cartwright & Maxwell Tani
Published Jul. 14, 2021 

Whether it’s a poor time slot, behind-the-scenes squabbles, an outdated news format, a slower post-Trump news cycle, or just a once-popular anchor taking his frustrations out on staffers, CNBC insiders have a lot of reasons for why Shepard Smith’s show has failed to capture major ratings. But one thing many agree on is that it has not met the bosses’ expectations.

In the nine months since he went on the air for NBCUniversal’s financial news network, Smith has put out a slickly produced, no-nonsense evening news show that prizes on-the-ground reporting over the talking-head panel fights that define many of his cable news competitors.

But The News with Shepard Smith, the brainchild of CNBC chairman Mark Hoffman, has struggled to attract the millions of viewers who watched Smith every day for years at Fox News, or to produce the fiery breakout viral moments that defined the later part of his tenure at the conservative cable-news giant. And those struggles have seemingly fostered some turmoil within the network and the show’s staff. This story is based on interviews with nine current and former CNBC staffers.

I know Rupert Murdoch is paying millions of dollars to hold on to the top on your personalities on Fox News. But essentially he's wasting his money. Fox News viewers will not leave Fox News to follow their favorite personalities over to other networks. Half of Fox's brand in trade is trashing all other news sites as liberal propaganda.

Hiring a Megyn Kelly or a Shep Smith for millions of dollars will not pay off. Their fans will not leave the safe space of Fox's prefabbed scary narrative. Every one of them is overpaid by Fox because Murdoch doesn't understand people are watching his show, not his pretty spokesmodels. And thus they're way overpaid by whoever steals them from Fox. They won't draw new viewers.

What this means is that Murdoch can start (and the whole time should have been) paying them a whole lot less. Who else is going to hire Tucker Carlson or Steve Doocey or Janine Pirro at this point? Even the straight news reporters like Chris Wallace or token "liberal" commentator Juan Williams are damaged goods. They literally have no place else to go. Murdoch could cut their pay by ⅓ and there's nothing they could do about it. They won't draw an audience to any other network, so they're trapped in Murdoch's zoo. Reputable news networks can quit wasting their money on this hope now.

We have economic proof that what Fox calls news is not a substitute good and is not in competition with what the real world calls news. Once you have the stink of Fox on you, no one else is going to wanna see you, no matter how much you maintained your "professional objectivity" over in the whorehouse.

[TexasTowelie]

1. The article neglects to mention Greta Van Susteren.

There is no rehabilitation or recovery from Fox News.

[Funtatlaguy]

2. Everything Rupert touches turns vile.

[True Blue American]

7. I watch Shep often

He really should be on MSNBC I could name at least a half dozen he could replace. That is the station that is keeping Trump alive. I am hearing this from many who took my advice and went to CNN. I am sick to death of hearing the latest, Oh, my God what Trump said today and what he has done to the Republican Party! Fox is actually doing us a favor by letting Trump rant his delusional spew.

I want news and hope Shep goes to CNN. He is not Megyn Kelly. So far Shep has done a great job of giving informative information.

[brush]

10. True. From scratch and ona network where political/news junkies aren't used to going to.

If Shep had went to CNN or MSNBC he'd be doing fine right now. Equating his switch to Megan Kelly's doesn't fly as she was not a straight news person. She was a winger getting by on her looks on FOX. MSNBC's "feel good, friendly" morning shows was never going to work for her as she's a not really likeable person that her good looks disguished, until you got to know her. Her place on FOX in their evening line up of other wingers was perfect for her.

Shep is a likeable, on-air person who would've done well in a line up with others like him.

[DAMANgoldberg]

4. Audience wise, he would have been better off...

at CNN ; his ratings would improve if he was in Erin Buffett's time slot.CNN has too much payroll as it is and would be difficult justifying a sum similar to what CNBC is reportedly paying.

[whistler162]

5. Hold it.... SHep SMith had a news

program on CNBC! Never heard of it.

[True Blue American]

8. See? It is on the business channel. I tuned in once and was hooked.

Shep is straight forward and presents news. As CNN does. Jim Acosta weekend show on Saturday and Sunday is great,too.

[grantcart]

6. Your premise is 100% wrong. Shep didn't leave FOX for big money on a mainstream network

1) To begin with he had worked 23 years at Fox and was making big money on a mainstream network.

2) He left without any prospects and made a speech at The Committee to Protect Journalists aimed at FOX and Trump warning of the new age of American authoritarianism.

He donated $ 500,000 to the committee.

3) CNBC is a fraction of the size of Fox news where he had broad responsibilities. Clearly he made a principled move with no concern about personal finances.

4) How you can put him in the same category as MK is a mystery to me. SS had just signed a new contact the year before and had gotten everything he asked for.

[True Blue American]

9. Thank you!

[Bucky]

13. I said nothing about his personal qualities as journalist

My point is that being on Fox taints a journalist's reputation. Fair or unfair. I've gotten a kick out of Smith for years. Yes, he's very good at his job. But the gamble that he would bring in big ratings has clearly not paid off. It's simply stating facts that big names that left Fox for legitimate news jobs (Megyn Kelly and Greta Van Susteren) have, like Smith, generally failed to produce acceptable ratings relative to their payment.

[JI7]

15. It hasn't tainted Smith. HE is on a network which doesn't get many viewers. I can't see anyone

expecting him to get the ratings he got on Fox which were mostly right wingers viewers that just kept it on Fox and not his own personal fans as they were hoping with Kelly .

[grantcart]

19. You said he left FOX to for big money on a mainstream channel

The opposite was true

He left a big mainstream channel with one of the fattest contracts in the industry on principle.

[grantcart]

20. You said he left FOX to for big money on a mainstream channel

The opposite was true

He left a big mainstream channel with one of the fattest contracts in the industry on principle.

[oldsoftie]

11. Smith is a good newscaster. This has little to do with Fox

He's always been a true newsman compared to most of the other fox people. You cant compare him to the personality people like Hannity. They're NOT news people

[Eid Ma Clack Shaw]

14. Yep. He's a million miles removed from a subtler nut like Megan Kelly

let alone Hannity et al.

[oldsoftie]

22. I think Kelly was the first one to get the full trump wrath

Just by asking a simple question!

[JI7]

17. And that's why he left Fox because even though he made a lot of money and could do what he wanted

he couldn't stand being associated with the bs anymore.

I kind of wish he stayed just so there could be someone that told the truth but I can understand him wanting to leave.

[oldsoftie]

21. I know. I liked seeing him poke them.

[Indykatie]

12. He Went to a Finance Oriented Network. WTF Did They Think Would Happen?

I'm only familiar with CNBC because I used to watch Jim Cramer's manic program on stocks.

[Hugin]

16. Most of Faux's viewers are... Well, faux.

To support their 'ratings' they pay for teevees to be placed in public venues... Airports, restaurants, and anywhere with a seating area, really. Whether or not anyone is watching or even in the seats. Each one is counted as a viewer.

They blast these numbers out over any actual accounting. Who's to say the official counters went to the wrong places when they counted? It's an old mob trick. That is why they like vending machines, movie theaters, and the like. Who counts the people? Why, they do! They're laundering viewers.

[doc03]

18. CNBC is a business channel, most of their veiwers

are probably Republicans. I can think of several people at CNN and MSNBC that he could replace. My Trump friends watch Faux for the news and CNBC for their money.