CNBC

Coordinates: 40°53′55″N 73°56′21″W / 40.89861°N 73.93917°W / 40.89861; -73.93917
From Wikipedia, the free encyclopedia

CNBC
Logo used since December 10, 2023. It is based on the 2022 NBC logo.
CountryUnited States
Broadcast areaUnited States, Canada
HeadquartersEnglewood Cliffs, New Jersey, U.S.
Programming
Language(s)English
Picture format1080i HDTV
Ownership
OwnerComcast
ParentNBCUniversal News Group
Sister channels
History
LaunchedApril 17, 1989; 34 years ago (1989-04-17)
Replaced
Links
Websitewww.cnbc.com
Availability
Streaming media
CNBC ProCNBC Pro
(requires subscription)
ClaroTV+(requires subscription to access content)
  • ch.725
The newsroom at CNBC headquarters, also used to host Power Lunch
CNBC's control room in New Jersey
Melissa Lee and Simon Hobbs on assignment during the show Squawk on the Street
The TV studio at the NASDAQ MarketSite, where CNBC's market updates and the show Fast Money are hosted
CNBC New Jersey headquarters
The newsroom at CNBC's New Jersey headquarters
A Squawk Box outside broadcast, hosted by Rebecca Quick

CNBC (formerly Consumer News and Business Channel) is an American business news channel and website. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk shows, investigative reports, documentaries, infomercials, reality shows, and other programs at all other times. Along with Fox Business and Bloomberg Television, it is one of the three major business news channels. It also operates a website and mobile apps, whereby users can watch the channel via streaming media, and which provide some content that is only accessible to paid subscribers. CNBC content is available on demand on smart speakers including Amazon Echo devices with Amazon Alexa, Google Home and app devices with Google Assistant, and on Apple Siri voice interfaces including iPhones.[1] Many CNBC TV shows are available as podcasts for on-demand listening.[2] Unlike "nbc.com"[3] and "msnbc.com",[4] "cnbc.com" is accessible in mainland China as of January 2024.[5]

CNBC is a division of NBCUniversal News Group, a subsidiary of NBCUniversal, which is owned by Comcast. It is headquartered in Englewood Cliffs, New Jersey.

In addition to the domestic U.S. feed, there are several international editions on the list of CNBC channels, although many just license the CNBC name.[6] Examples include CNBC World, CNBC Europe, CNBC Asia, Class CNBC in Italy, CNBC Indonesia in Indonesia, JKN-CNBC in Thailand, CNBC Arabia in the UAE, Nikkei CNBC in Japan, CNBC TV18, CNBC Awaaz, and CNBC Baazar (A special Gujarati language channel) in India, and GNN/CNBC Pakistan in Pakistan.[7][8]

History[edit]

Evolution of Comcast NBCUniversal
Comcast logo since 2024 NBCUniversal logo since 2011
1912Universal Pictures is founded
1926NBC is founded
1953NBC begins first compatible color broadcasts, preceding other networks by nine years
1956NBC's peacock logo debuts
1963American Cable Systems is founded
1967NBC broadcasts the first-ever Super Bowl
1968American Cable Systems rebrands to Comcast
1975Universal releases Jaws
1982Universal releases E.T. The Extra Terrestrial
1972Comcast began trading on the New York Stock Exchange (NYSE)
1985Universal's Back to the Future premieres
1986General Electric buys NBC for $6.4 billion and NBC's modern peacock logo was introduced
1989NBC launches CNBC
1990Universal Studios Florida opens
1993Universal's Jurassic Park premieres
1996NBC and Microsoft launch MSNBC
1999Universal Studios Florida expands to become Universal Orlando Resort
2001Grand opening of Universal Studios Japan and Universal's The Fast and the Furious premieres
2002NBC acquires Telemundo and Bravo
Focus Features is formed
Comcast acquires AT&T Broadband for $44.5 billion
2003Universal becomes the first studio with five summer releases breaking the $100 million mark
2004GE and Vivendi merge NBC and Universal into NBCUniversal
2005Comcast, PBS, Sesame Workshop, & Hit Entertainment forms PBS Kids Sprout, then Comcast & Time Warner Cable acquire Adelphia Cable assets for $17.6 billion
2006USA Network begins 13-year streak as #1 cable network in total viewers
2007Illumination is founded
2010Illumination's Despicable Me premieres
2011Vivendi divested in NBCU; Comcast buys 51% of NBCU from GE, turning it into a limited liability company the name "PBS Kids" is dropped out from Sprout (Leaving the name "Sprout")
2013Comcast buys GE's remaining 49% of NBCU and PBS sells Sprout to Comcast/NBCU
2014Comcast attempts to acquire Time Warner Cable for $45.2 billion
NBCUniversal reaches a new long-term deal with WWE
2016NBCU acquires DreamWorks Animation
2017Sprout relaunches as Universal Kids
2018Comcast acquires Sky
2020NBCU launches Peacock

CNBC's roots date back to the founding in 1979 of the Satellite Program Network (SPN), which showed a low-budget mix of old movies and instructional and entertainment programs. The channel later changed its name to Tempo Television. After initially signing a letter of intent to acquire Tempo,[9] NBC opted for a deal to lease the channel's transponder in June 1988.[10] On this platform, and under the guidance of Tom Rogers, the channel was relaunched on April 17, 1989, as the Consumer News and Business Channel. NBC and Cablevision initially operated CNBC as a 50–50 joint venture,[11][12] and it was headquartered in Fort Lee, New Jersey. Sue Herera and Scott Cohn joined CNBC at its inception.[13][14][15]

CNBC had considerable difficulty getting cable carriage at first, as many providers were skeptical of placing it alongside the longer-established Financial News Network. By the winter of 1990, CNBC was in only 17 million homes – less than half of FNN's potential reach – despite the size of NBC, its parent.[16]

After an accounting scandal, FNN filed for bankruptcy protection on March 2, 1991, and put itself up for sale. After a bidding war with a Dow Jones & CompanyWestinghouse Broadcasting consortium, CNBC was awarded FNN by a bankruptcy judge for $154.3 million on May 21, 1991, and merged the two operations.[17] CNBC hired around 60 of FNN's 300-person workforce. Bill Griffeth and Joe Kernen, who are still with the channel, joined CNBC at that time.[18][19] Other former FNN's workforce were hired by Bloomberg Television.[20] The deal increased the distribution of the network to over 40 million homes.[20] Cablevision sold its 49.5% stake in CNBC to NBC upon completion of the deal.[21]

Roger Ailes was hired as the president of CNBC in August 1993,[22][23] tasked by NBC CEO Bob Wright with turning around the struggling network. Ailes resigned in January 1996 due to disagreements with management including the decision by NBC management to form a joint venture with Microsoft that included the rebrand of "America's Talking" as MSNBC. Under the leadership of Ailes, annual revenue at CNBC rose from $43 million to $110 million.[24][25]

CNBC launched CNBC Asia, headquartered in Singapore in June 1995[26][27] and CNBC Europe, headquartered in London, in March 1996.[28]

In December 1997, CNBC formed a strategic alliance with Dow Jones, including content sharing with Dow Jones Newswires, The Wall Street Journal, MarketWatch, and Barron's and the rebranding of the channel as "a service of NBC and Dow Jones" (later "a service of NBC Universal and Dow Jones" following the formation of NBC Universal in 2004).[29][30][31] Fox merged with Dow Jones in 2007 and Fox Business later became a competitor to CNBC.

Also in December 1997, CNBC's international channels were merged into a 50–50 joint venture with their Dow Jones–owned rivals, London-based European Business News and Singapore-based Asia Business News.[32][33]

During the late 1990s and early 2000s, CNBC's ratings increased sharply along with the stock market, often beating those of CNN during market hours.[34] The highest daytime viewership of the network in 2000 was 343,000.[35]

However, after the burst of the dot-com bubble, CNBC's viewing figures declined in tandem. In 2002, CNBC's ratings fell 44% and were down another 5% in 2003.[36] The network's ratings steadily fell until bottoming in Q1 2005, with an average viewership of 134,000 during the day.[37]

From 2001[38][39] to 2006, the CNBC website was operated by MSN.[40][41]

In August 2003, CNBC signed a deal to provide weather content from AccuWeather.[42]

In October 2003, CNBC moved its world headquarters from Fort Lee (which became the new home of Telemundo flagship station WNJU) to a new digital video production studio in Englewood Cliffs, New Jersey.[43][44]

NBC Universal reacquired full control of loss-making CNBC Europe and CNBC Asia from Dow Jones at the end of 2005. The licensing agreement between Dow and CNBC U.S. remained intact, until it expired in 2012.[45]

CNBC reported annual revenues of $510 million in 2006.[46]

In September 2006, CNBC launched the FTSE CNBC Global 300 stock market index in conjunction with FTSE Group. The index includes the fifteen largest companies from each of the sectors of the Industry Classification Benchmark as well as the thirty largest companies from emerging markets.[47]

Profits at CNBC exceeded $333 million in 2007, making CNBC the second most profitable of NBC Universal's thirteen cable channels in the United States, behind only the USA Network.[48] Ratings hit an all-time high in 2007.[49][50]

CNBC Africa was launched on June 1, 2007.[51]

On October 22, 2007, CNBC launched "CNBC Investor Network", a series of webcam connections to the trading rooms of various independent financial institutions across the United States, allowing traders to be interviewed instantaneously as news breaks.[52]

In December 2007, CNBC formed a content partnership with Yahoo! Finance.[53]

In January 2008, CNBC formed a content partnership with The New York Times, which was seen as an attempt by both parties to take on increased competition from News Corporation.[54][55][56]

In May 2008, CNBC formed a content partnership with AOL.[57]

Average daytime viewership (6:00 a.m. to 6:00 p.m.) reached a seven-year high of 310,000 viewers in the first quarter of 2008.[48]

Ratings plummeted in 2009 as the network aired bad economic news resulting from the Great Recession.[58]

In January 2010, the launch of the Korean language channel SBS-CNBC marked the fifteenth CNBC-branded channel worldwide.[8]

In July 2010, BT signed a five-year contract with CNBC Europe to distribute content from its London headquarters to sister sites in Europe and the US.[59]

In 2011, CNBC won an award at the International Broadcasting Convention for its CNBC 4D: Interactive motion tracking that allows CNBC presenters to interact with 3D graphics, using technology from Unreel, Brainstorm, Motion Analysis.[60]

In June 2012, CNBC expanded its partnership with Yahoo! Finance in an effort to reach more online viewers. That month, CNBC.com had 6.5 million unique visitors in the United States while Yahoo! Finance had 37.5 million.[61]

In 2013, host Maria Bartiromo left CNBC for Fox Business in part because Fox offered her $5–6 million per year compared to the $4 million per year that she made at CNBC.[62][63][64][65] Also that year, CNBC took over production of the popular public television program Nightly Business Report from NBR Worldwide, a subsidiary of Atalaya Global Management.[66]

On January 6, 2015, CNBC changed the way it calculates ratings, switching from Nielsen ratings to a system by Cogent Research to calculate the viewership of its business day programming by surveying financial advisers and investors, with the goal of providing a more accurate measurement of the network's out-of-home viewership; Nielsen is still used to track the viewership of its entertainment programming.[67]

In October 2015, CNBC reached a record in viewership when it hosted one of the United States presidential debates of the Republican Party.[68][69]

On January 10, 2016, CNBC and Trans Media announced a strategic partnership to create Indonesian language channel CNBC Indonesia.[70] The channel was launched in 2018.

By 2017, Fox Business had overtaken CNBC as the most watched daytime business news network.[71][72]

CNBC's online video operations generated an all-time high of 1.92 billion total digital video starts across platforms in 2020.[73]

In 2020, CNBC hired former Fox News Channel anchor Shepard Smith to host a new evening newscast on the channel, The News with Shepard Smith, which premiered that September. It was positioned as an objective, "fact-based" national newscast.[74][75]

In 2021, CNBC signed a new multi-platform deal with Jim Cramer.[76]

In August 2022, Mark Hoffman stepped down as president of CNBC after 17 years at the network, being succeeded by NBCUniversal president of global advertising and partnerships KC Sullivan. Under Sullivan, the network began to refocus its programming to broaden appeal to its core business audience, including a promise of more business-related documentaries in primetime,[77][78][79] and cancelling the low-rated[80][75] The News with Shepard Smith in November 2022 in favor of the new financial news program Last Call with Brian Sullivan, which premiered in January.[80][78]

On December 11, 2023, CNBC underwent a major rebranding, updating its logo for the first time since 1996 (adopting the updated NBC peacock and corporate typeface introduced a year prior),[81] and revamping its on-air graphics with a simpler flat design. The two-tiered stock ticker CNBC had historically used was replaced with a single scroll, with major indices now displayed in a strip below the stock ticker.[78]

Physical stores[edit]

CNBC News Store at Raleigh-Durham International Airport

CNBC has a licensing partnership with Paradies Lagardère to operate retail locations in United States airports branded as CNBC News, CNBC Express, and CNBC SmartShop. The stores sell CNBC-branded merchandise as well as snacks and drinks.[82]

Criticism[edit]

CNBC has been criticized for allegedly amplifying bull and bear markets, particularly in the run-up to the dot-com bubble and the subprime mortgage crisis a decade later.[36][83][84] In response to these criticisms, CNBC anchors have pointed to the size of the market and noted that influencing it is "a little out of our reach."[83]

Jon Stewart on Comedy Central's The Daily Show has been a vocal critic of CNBC and some of its personalities, beginning after comments were made by Rick Santelli.[85][86] Despite the lack of direct comments by the network, several personalities have defended their predictions and comments.[87][88]

CNBC was accused by the Obama administration of "cable chatter"—the excessive and sometimes brutal discussion on a particular topic, often one-sided.[89][90]

Performance of Jim Cramer's stock picks[edit]

Regarding CNBC's Mad Money host Jim Cramer, an August 20, 2007 article in Barron's stated that "his picks haven't beaten the market. Over the past two years, viewers holding Cramer's stocks would be up 12% while the Dow rose 22% and the S&P 500 16%."[91]

High definition[edit]

CNBC HD on April 9, 2014

On October 10, 2007, CNBC HD, a 1080i high-definition television simulcast of CNBC, was launched, first on DirecTV.[92]

On October 13, 2014, coincidentally the 11th anniversary of CNBC's relocation to its current facilities in Englewood Cliffs, NJ, CNBC switched to a full 16:9 letterbox presentation, in line with CNBC Asia and CNBC Europe.[93]

Gallery[edit]

Programming[edit]

Current notable programming (as of December 2023)[94]

Non-business-programming, including Reality television[edit]

Sport[edit]

CNBC occasionally serves as an outlet for NBC Sports programming. Mainly, this has occurred on weekends, especially the afternoon, and its coverage is purposefully limited away from any part of the American trading day on weekdays.

Consistent programming includes the Premier League and the Olympics.

Olympic Games coverage[edit]

Beginning in 2000, CNBC has carried portions of NBC's coverage of the Olympic Games outside of business day hours. The frequent delegation of curling coverage to CNBC during the 2010 Winter Olympics helped the sport gain a cult following among the business community.[106][107]

Generally, during weekdays CNBC airs coverage from 5-8PM ET, following business coverage. During weekends, CNBC carries much more extensive Olympic coverage.

Notable former programming[edit]

Weekly, weekend and other programming[edit]

Non-business programming[edit]

See also[edit]

References[edit]

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40°53′55″N 73°56′21″W / 40.89861°N 73.93917°W / 40.89861; -73.93917