Sky News business presenter Ian King has quit his flagship show and will leave the company after ten years.
The channel recently moved Business Live with Ian King from its Square Mile address in central London and relocated to Sky’s headquarters in Osterley, West London.
But Sky’s decision to move the studio was branded ‘madness’, with critics arguing it would not be able to provide the same insights from the City while based in Osterley – branded ‘Skyberia’ among colleagues because of its distance from central London.
Following the move in September, Mr King has not appeared on the show for at least a month, leading to speculation over his future.
Today it was confirmed he has stepped back from from presenting the show, and will leave Sky News in the spring.
He will continue to contribute analysis and reporting to Sky’s digital platforms until his departure, David Rhodes, Sky News Group’s executive chairman said.
In a letter sent to Sky News employees, Mr Rhodes wrote: ‘Ian has been with Sky for ten years, enriching our news report with his knowledge of finance and his network in the City of London.
‘We’re delighted that he will continue to be a resource on our digital estate at this time.
‘I met this morning with the Business team to discuss our continued commitment to ‘Business Live’, hosted in recent months principally by Paul Kelso and Darren McCaffrey from our main newsroom.
‘We’re increasing our investment in this area, for instance in the hit Money Blog, a consistent audience favourite.
‘I want to thank Ian for his commitment to Sky News; we’ll make sure to organise a deserved send-off next year.’
Prior to the show’s relocation, Neil Bennett, co-ceo of H/Advisors, told City AM: ‘Ian King’s business show is a precious resource for the City and British business because he attracts all the biggest names into his central studio.
‘They’re simply not going to travel to Osterley, so the business community will lose another important media voice.’
Another City communication advisor added: ‘One of the reasons Ian’s output is taken so seriously in the City is because he knows his patch so well. Moving the show out of the Square Mile would undermine that credibility.’
Sky’s Osterley HQ opened in August 2016 and houses studios for Sky Sports, Sky Sports News and Sky News.
Before moving to Fleet Place, Sky News’ business operations were based in The News Building, known as The Place or The Baby Shard, near London Bridge.
Business Live will continue to broadcast on weekdays at 11.30am and 4.30pm providing reports on the markets, share prices and the world economy, alongside business commentary.
Darren McCaffrey and Paul Kelso will continue as regular hosts of Business Live.