Lou Dobbs and NBC said Tuesday they have teamed up on daily financial radio broadcasts to premier this summer on stations across the U.S. — moving a pact announced last October between the former CNN business guru and the Peacock net a step forward.
Dobbs left CNN, and sister net CNNfn, last year to launch SPACE.com, featuring space news, information, sci-fi and games. Unwilling to abandon biz news, he inked the NBC deal that called for a joint financial newsletter as well as radio projects. The idea was that neither of those outlets would technically violate a non-compete clause in Dobbs’ severance contract with CNN, whose CNNfn competes with much larger CNBC.
One CNN source said the radio deal doesn’t appear to violate the non-compete clause, which runs for several years.
Drive time biz news
The Lou Dobbs/NBC Financial Report — developed with syndicated radio programmer United Stations — will start airing three daily reports Monday through Friday in July. The short segments during morning and evening drive times as well as one at midday are geared to all news or news/talk stations.
Unlike its competitors at CBS and ABC, NBC doesn’t own any radio stations and its syndicated offerings have been minuscule.
United Stations will assume all network responsibilities for the new property and oversee marketing, distribution, production and ad sales.
CNNfn recently hired Shelby Coffey III, formerly of ABC News and the Los Angeles Times, to tune up the financial news net, which has had trouble getting carriage on cable systems — even ones owned by parent Time Warner. The net recently announced plans to go 24 hours, something Dobbs had long been pushing for.
Asked about that during a conference call, Dobbs said, “My thoughts on that are frankly somewhat immaterial.” CNN’s management decisions are “in my rearview mirror,” he added.
Meanwhile, it turns out there’s competition in space as well as business news. A company called Space Media announced at the NAB confab in Las Vegas that it plans to build the first commercial broadcasting studio and multimedia production facility in space for space news and space-related programming.