I'm shocked that Olbermann's show was cancelled by MSNBC so suddenly and without any kind of warning or wind down. My immediate reaction is to wonder if there's another shoe that might drop or any evidence of some serious wrongdoing by Olbermann that's about to surface. It's really surprising considering that Countdown is MSNBC's top rated prime time show, based on yesterday's ratings:

CABLE NEWS RACE
THURS. JAN. 20, 2011

FOXNEWS O'REILLY 2,918,000
FOXNEWS HANNITY 2,079,000
FOXNEWS BAIER 1,940,000
FOXNEWS SHEP 1,786,000
FOXNEWS BECK 1,780,000
FOXNEWS GRETA 1,460,000
MSNBC OLBERMANN 1,106,000
CNN PIERS 1,025,000
MSNBC MADDOW 976,000
MSNBC O'DONNELL 855,000
MSNBC SCHULTZ 760,000
CNN COOPER 740,000
MSNBC HARDBALL 700,000

I'm sure we'll be hearing all about what happened in the coming days. It's worth noting that the Comcast-NBC merger was approved yesterday, so that might be a lead worth following up on.