Fox News anchor Neil Cavuto is leaving the conservative cable giant after 28 years at the network, Fox News confirmed on Thursday.
Cavuto will issue a final farewell to viewers during the Thursday afternoon broadcast of his Fox News program Your World.
“Neil Cavuto’s illustrious career has been a master class in journalism, and we’re extremely proud of his incredible 28-year run with FOX News Media,” Fox News said in a statement. “His programs have defined business news and set the standard for the entire industry. We wish him a heartfelt farewell and all the best on his next chapter.”
A network source told The Independent that Cavuto’s departure comes after he declined a new contract, which was described as generous. As is the case with the shifting landscape of cable and broadcast news, Cavuto’s new deal saw the 66-year-old host receiving a cut in his salary.
Mediaite was first to report the news of Cavuro’s departure from Fox News.
Along with primetime star Sean Hannity, Cavuto was one of the few remaining on-air personalities who had been with the right-wing network since its inception in 1996. Over the years, he had developed a reputation for holding true to Fox News’ original mantra of “fair and balanced,” which regularly saw him call out Republicans and conservatives nearly as much as liberals and Democrats.
His willingness to criticize the right had long made him a target of Donald Trump, who frequently whined about Cavuto’s reluctance to accept the incoming president’s spin and falsehoods. Still, despite Trump’s social media tirades and demands that Fox News fire him, Cavuto continued to add a dash of Trump skepticism to Fox News’ increasingly MAGA-friendly tenor.
While on the surface it might seem that Cavuto’s somewhat anti-Trump stance is what doomed him at Fox News, a network source noted that his criticism of the president-elect had nothing to do with his departure. And, in fact, he was offered a new contract that would have kept him on the airwaves, which he declined.
Additionally, the source stated, Trump has been complaining about Cavuto’s commentary for nearly a decade now. If that were an issue, it would have been addressed long ago. On top of that, the source added, the negotiations over a new deal had been in the works since before the election took place.
Instead, this is all part and parcel of the penny-pinching and cutbacks that have taken place across the TV news landscape amid decreasing ad revenues and cord-cutting. While Fox News is better positioned than many of its rivals due to its surging ratings and digital strategy, the network is still not exempt from talent cuts, particularly for veteran on-air personalities who have grown accustomed to yesteryear’s inflated salaries.
Ultimately, it was Cavuto’s decision to leave the network, according to the source.
Outside of Cavuto, several other well-known anchors and commentators have taken significant pay cuts recently or announced that they’re stepping down rather than accepting a smaller contract.
Hoda Kotb announced this fall that she was leaving NBC’s Today show after 26 years after network executives sought to slash her $20 million annual salary. Cavuto’s former Fox News colleague Chris Wallace said he was leaving CNN for podcasting last month, only for it to be later reported that the real reason for his departure is the 77-year-old’s $7 million annual salary was being significantly slashed and his show canceled. MSNBC’s Rachel Maddow recently signed a contract extension that now sees her making $5 million less a year.
Throughout his tenure at Fox, which included him hosting both Your World and the mid-afternoon Fox Business show Cavuto: Coast to Coast, Cavuto has also dealt with several health challenges. Suffering for years with multiple sclerosis, the anchor nearly died in 2022 after a bout with COVID-19, crediting the vaccine with saving his life. His advocacy for COVID-19 shots stood in stark contrast to many of his colleagues, who parroted the increasing vaccine skepticism among conservatives.
According to the network source, Fox will announce new programming after the new year. For now, Your World will be anchored by a series of rotating hosts and Cavuto: Coast to Coast will be renamed Fox Business Live, also featuring a rotation of different hosts.
