Nightly Business Report - History

History

The idea for a business news program had come from several businessmen on the WPBT Board. Linda O'Bryon, who was WPBT's News Director at the time, headed the effort to get NBR on the air. In the fall of 1978, she was approached by senior management and asked to create a daily business news program. She developed the program concept and expanded the editorial staff to launch NBR. Paul Kangas was among the first to join, signing on as its stock market commentator. Kangas always signed off each broadcast using his trademark phrase, "I'm Paul Kangas, wishing all of you the best of good buys!" O'Bryon and Merwin Sigale were the first co-anchors. The editorial/production team that launched the program included WPBT veterans Rodney Ward, Bruce Eibe and Jeff Huff, and Jack Kahn, who was the program's first producer.

Within nine months, NBR expanded to a half-hour. On October 19, 1981, NBR launched on 125 public stations around the country. The first regular commentator on the program was Alan Greenspan, then a private economist, who remained as an NBR commentator until his appointment as Fed chief in 1987. A number of public television stations supplemented the program's newsgathering efforts by serving as "bureaus" for the program.

In 1998, financial journalist Susie Gharib joined the anchor desk with Paul Kangas. Gharib anchors from the heart of New York's financial district, while Kangas remained at the program's production center in Miami. NBR is currently broadcast television's only network evening news program that originates from two cities on a regular basis.

NBR is also seen internationally through Worldnet, the U.S. Radio and Television Armed Services network and on SBS Australia and Triangle Television in New Zealand. Audio of the program airs on Sirius XM satellite radio at 7pm ET. NBR operates three reporting bureaus with full-time staff members as well as bureaus in Denver, Silicon Valley, and Phoenix operated in partnership with the public television stations in those markets.

Over the years, NBR has received numerous awards. In 2005, for extended coverage of China's emergence as an international economic power, and in 2006 the website was honored with a took the helm from Linda O’Bryon in 2006, serving as executive editor and senior vice president through 2011. O'Bryon is currently President and CEO of South Carolina ETV.

In January 2010, Tom Hudson joined Nightly Business Report as the Miami anchor, reporting on topics such as Federal Reserve interest rate policy, corporate governance and shareholder activism as well as providing insights to daily market activity. Prior to co-anchoring Nightly Business Report, he was host and managing editor of the nationally syndicated financial television program "First Business." In July 2011, Tom was named Managing Editor and Co-anchor, a newly combined position with both editorial and managerial responsibility.

In August 2010, it was announced that WPBT-TV had sold the show to NBR Worldwide Inc., a newly-formed privately held company headed by Mykalai Kontilai who became the majority owner of the program. Kontilai, an entrepreneur in the Instructional Television Distribution (ITV) industry. Gary Ferrell, a former president and chief executive of North Texas Public Broadcasting (parent company of KERA-TV in Dallas, Texas), is the company's CFO. The sale was first proposed in February. According to WPBT, the station will continue to be associated with the show as a presenting station, and the sale reflects their assessment that NBR Worldwide Inc. has "the ideas and resources and potential to take it to the next level" and "can do more things with it than WPBT could." Rick Schneider, president and CEO of WPBT, said the staff and editorial team won't change and "Nobody loses their job as a result of this." Until the name changed, the program was carried under the "Community Television of South Florida, Inc." banner and produced by NBR Enterprises, Inc/WPBT Miami.

Schneider's promises proved short-lived. In November 2010, NBR Worldwide Inc. announced a restructuring of the Nightly Business Report staff. That restructuring resulted in job cuts for four on-air contributors, half the reporting staff, including Scott Gurvey (NY bureau chief), Stephanie Dhue (Washington), Jeff Yastine (Miami) and Jamila Trindle (Washington), in addition to founding producer Jack Kahn and three ofther behind-the-scenes personnel. In that same month, NBR Worldwide Inc. also announced it would open a part-time Silicon Valley news bureau, under the direction of San Jose-based reporter Robin McElhatton.

On November 16, 2010, NBR Worldwide Inc. announced the promotions of Rodney Ward from Executive Editor to Executive VP of Special Projects. Ward's former executive editor duties were assumed by managing editor Wendie Feinberg, who was also promoted to VP/Managing Editor. Those changes also didn't last long. On July 11, 2011, following the decision of PBS to drop the broadcast from its national schedule and cut all funding, NBR Worldwide Inc. announced the departures of Rodney Ward as Executive VP of Special Projects, and Wendie Feinberg, as VP/Managing Editor. In a press release, NBR Worldwide said the moves were "...part of its ongoing efforts to streamline operations and maximize resources." CEO Mykalai Kontilai said Miami-based anchor Tom Hudson would assume the role and title of Managing Editor, in addition to his current on-air duties. In November 2011, Rick Ray succeeded Kontilai as CEO after Kontilai sold the company to Atalaya Capital Management, a private equity firm based out of NYC. Ray is now CEO of NBR Worldwide Inc. and currently shares the executive producer title of NBR, with Kontilai. Gary Ferrell also departed the company at this time.