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Here's an interesting perspective of the comings and goings of Rita, Geraldo, Fox, and MSNBC:

Rita Cosby is leaving Fox News Channel immediately. FNC did not renew the contract of the weekend anchor and she has reportedly been hired by MSNBC. On websites such as http://www.mediabistro.com, you'd think the movement of a member of the Fox B-Team to a nearly invisible rival is on a par with the Pope's death or Dan Rather's phony memo scandal.

But to any dedicated and perceptive Fox watcher, it was obvious that Cosby's star has been in decline for the last few years and accelerated further after Greta Van Susteren was hired away from CNN in early 2002. One obvious tip-off to Cosby's standing is that she rarely appeared on weekday shows and never as a substitute host for Van Susteren, John Gibson or Bill O'Reilly. Likely reason: when Cosby filled in between the departure of Paula Zahn and the arrival of Greta, her ratings were nothing to write home about!

In not renewing her contract, Fox News Channel CEO Roger Ailes obviously concluded that a weekend anchor was not worth a big salary. Cosby's exit also does not bode well for Geraldo Rivera, who was hired by FNC after 9/11 as a war correspondent but lately has also been confined to the weekend shift in the hour that followed Cosby. Rivera, slaving at a reported $2 million a year, more than Rita, is also nearing the end of a contract.

Reports from self-proclaimed insiders at MSNBC have Cosby anchoring a one-hour show at 11pm ET/8 pm Pacific. An obvious question to MSNBC boss Rick Kaplan: why would Rita get high ratings on MSNBC when she couldn't on Fox, despite a far larger viewer base? Don't these guys running the liberal networks ever learn? CNN immediately signed Zahn after she was fired by Ailes for poor ratings. Now even on a good night her CNN audience is only about one-fourth of rival O'Reilly.

And don’t worry about Fox replacing Cosby. The FNC bench is very deep but don't be surprised if Ailes again pulls off a major coup, such as when he hired Van Susteren and Chris Wallace.

And good luck to the likeable Cosby who ultimately could not crack the starting lineup on Fox. Maybe she will fare better as the big fish in the small pond that is MSNBC.