Inside the decline of Cheddar

Oliver Darcy of CNN takes a look at the demise of financial news channel Cheddar.

Darcy writes, “The outlet technically exists, but its plans of grandeur are far behind it and the network is hanging on by a thin thread, according to people familiar with the company’s state of affairs. Currently, only one live news show, ‘Opening Bell’ hosted by Kristen Scholer, remains in production. On Cheddar’s website, original reporting has ground to a halt. In its place, a few wire stories from the Associated Press are sporadically published.

“In fact, just a handful of employees still remain working on the editorial product, the people who spoke with me said, estimating the group to be no more than a half-dozen staffers or so. And that group of staffers, I’m told, is likely to shrink even more in the days ahead as the remaining Cheddar staffers look to jump off what’s left of the sinking ship, which at this point appears to be mostly submerged and headed straight for the ocean floor.

“‘It feels like the end,’ a person familiar with the matter candidly told me.”

Read more here.