CNN boss to quit on December 31

Saturday, July 28th, 2012 2:25:32 by

New York: (Friday, July 27, 2012) CNN’s president Jim Walton said here today that he is leaving the once dominant Cable News Network that has been lately struggling for ratings.

Phil Kent, the chief executive of Turner Broadcasting, will now be searching for a new president. Walton will be quitting his office on December 31.

Walton, who has been president of the CNN since 2003, said, “CNN needs new thinking. That starts with a new leader who brings a different perspective, different experiences and new plan.”

Owned by Time Warner, CNN was founded in 1980, and since its inception, the media organization has been trying to hold grounds in its news coverage, a position that some blame for its rating erosion.

Meanwhile, ratings have increased for competitors like Fox News and MSNBC, which introduced the trend of blending news with opinion and political commentary.

News Corp is the owner of Fox, while MSNBC is now owned by cable giant Comcast Corp after its purchase of NBC two years ago.

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