CNBC Company started in 1980, however, at this time it was known as Satellite Program Network. The SPN used to air entertainment, old movies, and instructional program. Later on, the network was changed the title to Tempo Television. NBC had an intention to acquire Tempo Television a move depicted by the signing of documents between the two companies. Under the new policy and the leadership of Tom Rogers, the station was relaunched on 17th April 1989 as the current "Consumer News and Business Channel". At this time the Cablevision and NBC operated the CNBC as a joint venture. At the start of the CNBC, the headquarters of the media house were in Fort Lee, New Jersey.
In 1990, the new channel had a coverage of 17 million homes which was half FNN potential reach. Around this time FNN experienced financial challenges and this led to NBC to acquire FNN and merged the operation. This move increased dispersal of the coverage to more than 40 million households. Later on, Cablevision traded 50% of its investment to NBC with the complete label Consumer News and Business Channel.
By February 2015, CNBC company reported nearly 93,623,000 pay-TV households in America which translates to 80.40% of the homes with TVs. Research further shows that in 2007, the CNBC was placed number 19 of the most profitable cable network in America with net value of 4$ billion. Further, there are other localized versions of CNBC which operates and serves various countries and regions.
Studies have shown that there is a clear relationship between CNBC performance at global stock markets and coverage. At the start of the decade, the network experience challenges in attracting viewers but from 2005 the viewership has increased. The network possesses the wealthiest audience based on the income of any TV channel in America. This company has continued to be lucrative with average yearly revenues of above $510.0 million making the network a cash flow for its parent company. It is stated that CNBC is second profitable company among the NBS thirteen cable channels in the US.
Personalities and coverage
Many of the news anchors working in this media house have been around for long. For instance, Morgan Brennan and Sue Herera joined this company at the time when it was formed and they have remained in the media as co-hosting and seniors correspondent. Other personalities who joined the company right from FNN like Joe Kernen and Bill Griffeth are also serving in the media house. Despite this relatively high retentions, the network company has increased the profile of its news anchor (CNBC, 2018). CNBC anchor Jim Cramer has been used on many news outputs. Maria Bartiromo was also featured in many NBC news broadcast like wall street journal and Today show before she left the media house.
From 1997, the media house has formed many strategic alliances with recording financial reporting company like Dow Jones and company. Based on several agreement, the media house has access to journalism from the Wall Street Journal and MarketWatch with these companies' reports featuring on the channel. CNBC has signed a deal with Dow Jones, however, continuation was jeopardized by the acquisition of Dow by another company. Since January 2008, CNBC had aired content presented in the New York Times a move which was speculated to a deal by the two companies to control News Corporation (Sweney, 2008). Based on this agreement, video coverages from CNBC.com are featured in Time website while CNBC access business news of the Times. Still in 2008, the CBNC company video clips were distributed via Yahoo! Finance (Stelter, 2007). The economic information or data, market prices of various goods and other statistics were provided by Thomson Reuters. The latest partnership was developed in December 2010. In this year (2010), CarryQuote and CNBC announced development of marketing collaboration which resulted to launch of CNBC PRO. This is a desktop and mobile commercial app for distinct businesspeople. The CNBC PRO helps its users to access current financial information from over 100 stock exchange around the globe in addition to CNBC news and video streaming.
Since 1995, the CNBC Company has operated many international channels. In 1995 the CNBC Asia was started and this was followed by the launch of CNBC Europe in 1996. Shortly after in 1997, NBC and Dow Jones merged their international news channels and this made CNBC Europe to merge with Dow Jones European Business News. In 2007 as well as 2008 CNBC Asia and CNBC Europe dropped the location designations meaning CNBC channels aired on Asia, the US and Europe are simply referred to as CNBC.
In addition to its penetration in Asia and Europe, the network has several business channels with other companies like CNBC Arabiya, CNBC Pakistan, Class CNBC viewed in Italy and Nikkei CNBC broadcasted in Japan. In North America, the media house broadcast programs from CNBC Asia and CNBC Europe while in the Caribbean and Central America, CNBC Latin America broadcast programs from CNBC World meaning the CNBC Latin America does not have its original programming. CNBC is still in South Africa, it has agencies in Nigeria and Kenya and it produces several hours of native programming. Latest, TransMedia and CNBC pronounced partnership in 2016 which will likely see the formation of CNBC Indonesia.
CNBC. (2018). CNBC LLC. Retrieved June 10, 2018, from https://www.cnbc.com/anchors-and-reporters/
Stelter, B. (2007). Yahoo Deal Adds Content From CNBC. The New York Times.
Sweney, M. (2008). New York Times and CNBC in an alliance. London: guardian.co.uk.
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