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CNNFN president resigns
First Headline News' president resigned; now it's CNNFN's turn. C. Shelby
Coffee III has stepped down from the struggling CNN spinoff channel
concentrating on financial news.
Coffee took over the network a few months after founder Lou Dobbs left in a
huff in the Summer of 1999. Under Coffee's leadership CNNFN went to a 24-hour
schedule on weekdays, beefed up tech news and developed the beginnings of a
West Coast presence on its flagship Moneyline News Hour program. But
availability to cable subscribers remained a problem; even many Time Warner
systems refused to carry the channel.
Coffee's fate was sealed by the AOL Time Warner merger, which was presaged by a
centralized managment structure resulting in less decision-making power for
channel presidents. With its merger with AOL imminent, CNN last week announced