CNN Chief Jim Walton Stepping Down

Jul 27, 2012
Originally published on July 27, 2012 10:18 am

Saying that the cable news network "needs new thinking," CNN Worldwide President Jim Walton told his staff today that he's stepping down at the end of the year.

In a memo, he said:

"New thinking ... starts with a new leader who brings a different perspective, different experiences and a new plan, one who will build on our great foundation and will commit to seeing it through. And I'm ready for a change. I have interests to explore and I want to give myself time to do it."

As Politico points out, "the news comes amid severe ratings struggles at CNN." Huff Post Media adds that:

"CNN's U.S. network had its worst-ever ratings for a second quarter, down 40 percent for some of its prime-time shows. The decline was particularly notable in May, when CNN faced tough competition from broadcast networks during a slow news period and its ratings were compared to a year earlier, in the aftermath of the Osama bin Laden killing."

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