MarketWatch Media Columnist Jon Friedman Says Celebrities Losing Value In Ailing Economy

Jonathon Wald has left CNBC
Jonathon Wald has left CNBC
Seven days ago, CNBC news chief Jonathan Wald had one of the most prestigious titles in the media industry.

Today, he’s a cautionary tale.

Last week, CNBC announced that Wald soon will leave the business-news network. He and the General Electric unit couldn’t come to terms on a new contract, CNBC President Mark Hoffman said.

You should care about this development if you care about the state and future of the media. The Wald story is a defining moment. You can call it, with apologies to author Malcolm Gladwell, the tipping point of the news industry.

CNBC put a line in the sand for all media companies. It’s sending a message to the world that it wouldn’t pay up to keep Wald, one of the brightest executives around.
This analysis was written by MarketWatch’s Jon Friedman.


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