Fox Business replaces ‘Happy Hour’ with new show hosted by former CNNer Gerri Willis

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Fox Business Network confirmed Wednesday that the network is cancelling its afternoon show “Happy Hour” and replacing it with “The Willis Report,” a consumer-oriented program hosted by former CNN personal finance editor Gerri Willis.

Willis’ show, which will premiere June 7 at 5 p.m. ET, will mark a change in tone from “Happy Hour,” which was produced live out of the bar of the Bull & Bear restaurant of the Waldorf-Astoria hotel.

“Gerri brings a fresh, no-nonsense approach to complicated financial issues and her new program will be a clear reflection of that,” Roger Ailes, chairman of Fox News and Fox Business, said in a statement. The network has not yet announced how “Happy Hour” hosts Eric Bolling, Rebecca Diamond and Cody Willard will be reassigned.

The move comes as Fox Business has been quietly tinkering with its lineup. Earlier this month, executives canceled “Fox Business Morning,” the 5 a.m. ET lead-in to “Imus in the Morning,” replacing it with “Best of Imus,” a taped show. “Your Questions, Your Money,” a four-hour call-in show on Saturdays aimed at small business owners, is scheduled to end its run at the end of the month.

— Matea Gold (Follow me on Twitter: twitter.com/mateagold.)