In the middle of an otherwise relatively slow post-holiday weekend afternoon, CNBC has just announced that former Fox News anchor Shep Smith will be joining the network, where he will report on a wide range of topics beyond the cable news channel's typically markets-focused coverage.
Smith abruptly left Fox News, where he built a large following, in October after his criticism of Donald Trump made him sort of an odd-man-out at the conservative-leaning cable news network.
Smith is signing on to host a new show, entitled "The News with Shepard Smith", which will debut this fall in the 7-8pm time slot. The Monday through Friday newscast marks a significant shift in the evening programming strategy for CNBC, which is essentially re-runs of "Shark Tank" and "the Profit" after Jim Cramer wraps up the popular "Mad Money".
CNBC Chairman Mark Hoffman said Smith’s show will try to "look for the signal in all the noise".
"Information is coming at us from every direction,” Mr. Hoffman said in a statement. “If we’re not careful life-altering decisions will be made based on half-truth, rumor, misdirection or worse. We aim to deliver a nightly program that, in some small way, looks for the signal in all the noise."
Shep will make his debut tomorrow at 10am on "Squawk on the Street".
Of course, given his legacy at Fox News, media reporters will be curious to see whether Smith suffers from what some have informally dubbed "The Fox News Effect" - the tendency for the network's stars to crash and burn after leaving the network, like Megyn Kelly, Glenn Beck and a handful of others.