Roger Ailes was hired as the new president of CNBC in 1993, tasked by NBC CEO Bob Wright with turning around the struggling network. Under Ailes' leadership from 1993 through 1995, the $400 million network doubled in value, and its revenues tripled. In addition, Ailes oversaw the launch of a 1994 spin-off channel from CNBC, called "America's Talking." Ailes left CNBC and America's Talking in late 1995 when Microsoft and NBC created a joint venture to reprogram America's Talking as MSNBC.