Current TV CEO Mark Rosenthal who has run the network since 2009 is stepping down and will be replaced by founder and former CEO Joel Hyatt according to Adweek.
“During Mark’s tenure, Current has become a focused cable network with a world-class leadership team, a new brand identity, a move towards long-form, ratings-driven factual programming, and a solid foundation for growth. These results helped pave the way for Current’s recent successful launch of Countdown With Keith Olbermann and the network’s major strategic shift to become a political commentary and news analysis network, with a clear, progressive point of view.”
While the parting was amicable sources told Adweek that Rosenthal had apparently wasn’t happy that Hyatt had moved recently to become co-CEO which undermined Rosenthal’s authority and made decision-making difficult.
As to why Hyatt decided to jump back in after ceding the CEO post to Rosenthal two years ago, a source speculated to Adweek that the position had become more interesting since Olbermann joined the network giving it some star power for the first time meaning that Hyatt saw it as an opportunity to grab more of the spotlight. And he didn’t need Rosenthal to help him with that.
I think I just heard the sound of a bus passing by.