"The rate at which people have been and probably will continue to cut the cord and not look at cable TV at all is a far, far greater strategic threat than the finer points of competition between individual cable channels.”
On average, the network featured 111 million unique visitors per month to its digital platforms, including 5.8 million unique visitors to its mobile app.
What started as a U.S. operation has grown to several different divisions as CNBC holds branches in both Europe and Asia, and also has other international affiliates.
Reaction to the news from the news media was generally drawn down party lines, with conservatives championing the move, while liberals chastised the longtime editor.
"To those of you at Fox with any power -- from Lachlan on down -- know that things like this only harm the company's reputation. Not among your enemies, who will hate you no matter what, but among your supporters, like me, who get pained when the hyperbolic attacks turn out to be true."