The impact of CNN’s “Moneyline” on its 40th anniversary

Dean Rotbart of Business News Luminaries interviewed longtime business journalist Myron Kandel on the 40th anniversary of CNN”s “Moneyline,” which launched on June 2, 1980.

Kandel was one of the founders of CNN and served as its financial editor and economic commentator for 25 years.

“Moneyline” was the first network business news program. “Wall Street Week” existed on public television, but it focused on investing. And “Nightly Business Report” was still in Florida. The show ran from 7 to 7:30 p.m. EST and was repeated at 11 p.m.

At that time, each of the networks had one financial news reporter, and they were happy to get on the air two or three times per week.

“Business news was the wasteland of network news,” said Kandel. “‘Moneyline’ was really a pioneering effort. It attracted a lot of attention and a lot of praise.”

“The big disappointment, in my feeling, is that CNN really abandoned its pioneering cover of business news,” said Kandel. “At one point, it had 25 percent of its 24-hour day devoted to business news — four hours of original programming and two hours of repeats.” CNN also had weekend business news shows.

“The slack has been picked up by CNBC and now Fox Business,” said Kandel.

To listen, go here.