CNN chief steps down, says new leadership needed
CNN Worldwide's president announced his resignation Friday after a period of low ratings for CNN US, saying the company needs new leadership, dpa reported.
Jim Walton helped the company expand as an international news network during his 10 year presidency, CNN said in a press release. In recent years, however, CNN US has struggled in the ratings race, consistently placing third behind Fox News and MSNBC.
Walton will continue working as president of the company, which is owned by Time Warner, until the end of the year.
"CNN needs new thinking. That starts with a new leader who brings a different perspective, different experiences and a new plan, one who will build on our great foundation and will commit to seeing it through," Walton wrote in a message to CNN employees.