CNN chief Walton calls it quits
July 27, 2012, 2:46 pm EDT
New York—Jim Walton, longtime president of CNN Worldwide, said he is leaving the cable network, according to the Associated Press.
Walton, who has been president of CNN Worldwide for the last ten years, was quoted as saying the company needs new leadership at a time its flagship U.S. network is suffering through some of its poorest ratings ever.
Walton said that CNN Worldwide is on track for record profits this year. However, the U.S. network (CNN) remains stuck in third place behind rivals Fox News Channel and MSNBC in prime time.
CNN had its worst-ever ratings for a second quarter, down 40% for some of its prime-time shows, the AP said.
According to the report, Walton said he will continue working until the end of the year during the company's search for a successor.