“Nightly Business Report,” the PBS program that started in 1979 and became TV’s longest-running business-news broadcast, is set to cease production by the end of the year.

CNBC, which picked up production of the show in 2013, has decided to end its association with the show, according to people familiar with the matter. “Nbr,” originally based in Miami, was carried by 183 public television stations in all 50 states, reaching 96 percent of all U.S. households, according to American Public Television, the series’ distributor. “The ‘Nbr’ co-anchors, executive producer and entire CNBC team have been strong partners in delivering this trusted business news service,” said Cynthia Fenneman, Apt president and CEO, in a prepared statement. “This is smart television which will be deeply missed.”

There was no CNBC – or even its predecessor, Fnn – in 1979, and business-news stars like Maria Bartiromo, Becky Quick and David Faber did not exist. But anchor Paul Kangas, who...