‘Wall Street Week’ Becomes Weekly TV Newsmagazine in Bloomberg Overhaul

As a lifelong follower of financial news and a devotee of “Wall Street Week,” I must say that I am both intrigued and slightly apprehensive about the show’s new direction. While it’s refreshing to see such a venerable program innovate and adapt to the streaming era, I can’t help but feel a twinge of nostalgia for the good old days when Louis Rukeyser would regale us with his clever soliloquies about the stock market.

The long-standing show known as ‘Wall Street Week,’ which debuted back in 1970, is broadening its scope to encompass topics beyond just the fluctuations in the stock market.

Originally airing on Maryland Public Television and hosted by Louis Rukeyser, the program previously centered around interviews with influential Wall Street figures. Beginning this Friday, September 20th, however, the show will shift its focus to a series of business-oriented news stories based on Bloomberg‘s journalism. Since 2020, it is Bloomberg that has been producing and broadcasting this program across their cable network and other media platforms.

David Westin, the host and a former president of ABC News, mentioned during a recent interview that he wants to transform the show from an interview-focused format into one centered around stories, similar to a traditional newsmagazine. He also suggested that the show could specialize in business and economics, but notes that this approach may not have been tried before.

Rukeyser could come up with an insightful prologue to shed light on Bloomberg’s actions, but essentially, the company, like many other broadcasting entities, needs to significantly overhaul its traditional methods if it aims to maintain its content relevant for younger audiences who tend to stream videos instantly rather than scheduling their viewing according to predetermined days and times.

Westin emphasizes that their goal is not just to produce traditional linear TV programming. Instead, they want content that endures on streaming platforms, as once published, it remains available indefinitely. He points out that focusing on stock market fluctuations might render such a program less valuable over time, and many of the show’s audience are seasoned investors who can readily access financial news sites for detailed statistical analysis.

In the streaming era, many classic TV programs are undergoing significant changes. For instance, CBS News is planning to reveal an extensively revamped version of their “CBS Evening News” later this year. Instead of one newsreader at a desk, which has been the conventional format, they’re introducing two anchors and additional contributors. Similarly, NBCUniversal has fundamentally altered its approach to broadcasting the Olympics. This new strategy caters more to the streaming audience and offers a fresh primetime presentation that selects key events, integrates celebrities, and presents them in an engaging manner.

In its latest edition, the premiere episode of “Wall Street Week” will delve into various aspects: it will discuss the business hurdles faced by universities, offer insights into the workings of New York eateries, and present a two-part analysis on Detroit and Ford Motor Company.

In its revised strategy, the show will expand its reach to more viewers. Starting September 22nd, “Wall Street Week” will broadcast every Friday at 6 p.m. eastern on Bloomberg, and also on Sundays at 2 p.m. eastern on 195 PBS stations that carry WORLD digital channels. This move covers approximately 77% of U.S. television households. The goal for WORLD is to gather the finest news, documentary, and non-fiction content from public media sources.

Previously, Bloomberg has collaborated with public broadcasting networks, distributing “The David Rubenstein Show: Peer-to-Peer Conversations.” Following the 2020 reboot of “Wall Street Week,” there have been discussions about potential collaboration between Bloomberg and GBH (the Boston affiliate of PBS). Interestingly, GBH is also responsible for preserving episodes featuring Edwin Rukeyser’s tenure on the show in the American Archive of Public Broadcasting, a collaborative project with the Library of Congress.

Westin hints that there’s a possibility that numerous Bloomberg reporters might choose to submit articles for the program, enabling the company to highlight its influence not only within the U.S., but also abroad.

Despite being a well-known TV program with a rich history, it has experienced ups and downs throughout its existence. “Wall Street Week” initially garnered attention during its 32-year stint on PBS. Stock market enthusiasts would frequently tune in to listen to Rukeyser’s witty insights about the Dow and other financial indicators, as well as conversations with financial experts. As ratings declined, hosts from Fortune magazine were introduced, yet they failed to boost viewership significantly. The show eventually came to an end on Maryland Public Television and PBS in 2005.

Initially, “Wall Street Week” unveiled some fresh market fluctuations. Later on, this program was acquired by SkyBridge Capital, a venture founded by Anthony Scaramucci, who had a short stint as White House Communications Director during President Donald Trump’s tenure. In 2015, SkyBridge broadcasted their adaptation of the show online. A year later, it found a home on Fox Business Network. However, in January 2018, after Maria Bartiromo took over, the show was rebranded as “Maria Bartiromo’s Wall Street.

Bloomberg still obtains the rights to use the “Wall Street Week” title from Maryland Public Television, which implies that they continue to earn money from this program, one of its early financiers.

2024-09-20 17:47

‘Wall Street Week’ Becomes Weekly TV Newsmagazine in Bloomberg Overhaul

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