Fox News anchor Neil Cavuto departs in cost-cutting move

Neil Cavuto, the first anchor hired by Fox News in 1996, is leaving the network, another casualty of cost-cutting in the TV news business.

Cavuto, 66, will make his final appearance on the network Thursday on “Your World,” his long-running daily business-oriented program. His current deal is up at the end of the month.

Cavuto chose to leave the company after being offered a new contract – likely at a lower salary – according to people familiar with the matter who were not authorized to discuss it publicly.

“Neil Cavuto’s illustrious career has been a master class in journalism and we’re extremely proud of his 28-year run with Fox News Media,” the company said in a statement confirming the anchor’s departure. “His programs have defined business news and set the standard in the entire industry.”

Big-name anchors across the TV news business are being asked to take lower salaries as ratings and revenues are shrinking. Hoda Kotb of NBC’s “Today” and Chris Wallace of CNN both chose to leave their roles rather than take new deals at lower pay.

Cavuto anchored 12 hours of programming a week on Fox News and its sister channel the Fox Business Network, where he also served as managing editor. He was a popular figure among colleagues.

Cavuto is one of the few Fox News anchors who frequently criticized President-elect Donald Trump, which did not always please the conservative viewers who make up much of the network’s audience.

The anchor had a sense of humor about the audience’s love-hate relationship with him. When he returned after one of his long medical leaves, he read messages from viewers who were disappointed that he was back.

Throughout his career, Cavuto has battled a number of health issues over the years. He has multiple sclerosis, underwent open heart surgery in 2016 and is a cancer survivor.

He was an original anchor at CNBC when it launched in 1989. He developed a bond with Roger Ailes when he ran the NBCUniversal-owned business news network and followed the executive to Fox News when it launched in 1996.

Cavuto became the lead anchor of Fox Business Network when it was launched in 2007. He helmed a midday program, “Cavuto: Coast to Coast,” on the network in addition to his daily and weekend shows on Fox News.

No successor was named for Cavuto, whose programs will continue. A permanent replacement is likely to come from within the ranks of the network.

Cavuto served as a moderator for the second Republican presidential primary debate in 2015, which delivered the largest audience in the history of Fox Business Network.