BREAKING NEWS

CNN chief Walton to leave ratings-starved network

By REUTERS

JULY 28, 2012 00:53

CNN Worldwide President Jim Walton said on Friday he is leaving the once-dominant cable news network, which has been plagued by low ratings in recent years.

Phil Kent, chief executive of Turner Broadcasting, will begin a search for a new president, the network said. Walton is departing on Dec. 31.

"CNN needs new thinking. That starts with a new leader who brings a different perspective, different experiences and a new plan," said Walton, 54, CNN's president since 2003.

Walton will be staying on to oversee presidential election coverage, allowing CNN time to search for a new executive who can then start with a clean slate at the beginning of 2013.

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