Categories: OLD Media Moves

CNBC's hard line with Wald sends a message about future pay

Marketwatch media columnist Jon Friedman writes Monday that the decision by CNBC to part ways with senior vice president Jonathan Wald, who apparently wanted more money, draws a line in the sand for future pay during the current economy.

Friedman writes, “But for the other folks in the media, even those who appear in front of the TV camera, life probably won’t be the same as the recession deepens.

“Meanwhile, the journalists should have no illusions, either. If CNBC could turn its back on its top news official, who’s to say it wouldn’t do the same with anyone at the network not named Maria Bartiromo.

“To take the theory a bit further, it’s likely to assume that media companies — like all industries — will hold the lines on compensation for everyone except the top-draw stars at the networks, newspapers, magazines and Internet sites.”