Neil Cavuto is leaving his longtime home at Fox after nearly three decades.
Fox News paid tribute to the work of Cavuto, who has been with the cable network since its launch in 1996, in a statement provided to USA TODAY on Thursday.
“Neil Cavuto’s illustrious career has been a master class in journalism and we’re extremely proud of his incredible 28-year run with FOX News Media. His programs have defined business news and set the standard for the entire industry. We wish him a heartfelt farewell and all the best on his next chapter.”
Cavuto’s contract is up at the end of 2024, according to a source familiar with the situation but unauthorized to speak publicly to USA TODAY, who cited an “evolving” news business which has led to industrywide salary cuts. The anchor, who typically covers business topics, was offered the opportunity to stay but declined.
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The source said Thursday that Fox will announce a new programming slate in 2025, and Cavuto’s shows will be anchored by a rotating slate of guest hosts until next year.
Cavuto currently anchors “Your World” weekdays at 4 p.m. ET on Fox News Channel and “Cavuto Coast to Coast” weekdays at noon ET on Fox Business Network. On Saturdays, he hosts “Cavuto Live” at 10 a.m. ET.
Before he joined Fox News in August 1996, Cavuto worked as an anchor and host of the network’s highest rated show, “Market Wrap,” according to Fox. He hosted over three hours of live programming at NBC’s business bent channel.
Cavuto’s exit marks a series of notable shifts this year across the TV landscape. In late September, Hoda Kotb shared she was leaving “Today,” describing the decision as the “hardest thing in the world.” She said turning 60 over the summer was a “monumental” moment that made her think about the decade ahead.
Fox News has also had its share of departures with President-elect Donald Trump nominating several former network personalities to key posts in his upcoming cabinet. Controversial Defense Secretary pick Pete Hegseth is the ex-co-host of “Fox & Friends” while Transportation Secretary nominee Sean Duffy and future “border czar” Tom Homan are also former Fox personalities.
Fox News medical contributor Dr. Janette Nesheiwat is Trump’s pick to serve as the next U.S. Surgeon General.
Contributing: Brendan Morrow