CNBC

The newsroom at CNBC headquarters, also used to host Power Lunch

CNBC had its beginnings in 1979 as the Satellite Program Network (SPN), showing a low-budget mix of old movies, instructional and entertainment programs. The channel later changed its name to Tempo Television. After initially signing a letter of intent to acquire Tempo,[7] NBC eventually opted for a deal to lease the channel's transponder in June 1988.[8] 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,[9] choosing to headquarter the channel in Fort Lee, New Jersey.

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 only in 17 million homes – less than half of FNN's potential reach – despite having the muscle of NBC standing behind it.[10] The original financial television concept predates both CNBC and FNN, as several independent TV stations commenced financial programming starting in the late 1960s (WCIU Chicago & KWHY Los Angeles); as Gene Inger, a Registered Investment Advisor, pioneered financial programming in several cities; notably San Francisco, Miami / Fort Lauderdale; then his part-owned WWHT Channel 68 Newark (serving the NY market). Mr. Inger (never part of FNN) disengaged operationally after the sale of Channel 68 to Miami-based Wometco; and today Channel 68 is an NBC property. (Inger was a guest on CNBC for years and as of 2019 provides online commentary from Florida.)

However, around this time, FNN encountered serious financial difficulties. After a protracted bidding war with a Dow Jones-Westinghouse Broadcasting consortium (the former's assets would be used to build a rival channel almost two decades later),[10] CNBC acquired FNN for $154.3 million on May 21, 1991 and immediately merged the two operations, hiring around 60 of FNN's 300-strong workforce.[11] The deal increased the distribution of the newly enlarged network to over 40 million homes.[11] Cablevision sold its 50% stake to NBC upon completion of the deal.[12] With the full name "Consumer News and Business Channel" dropped, the network's daytime business programming was branded "CNBC/FNN Daytime," although this was phased out by 1992.

Roger Ailes was hired as the new president of CNBC in 1993, tasked by NBC CEO Bob Wright with turning around the struggling network. Under Ailes' leadership from 1993 through 1995, the $400 million network doubled in value, and its revenues tripled. In addition, Ailes oversaw the launch of a 1994 spin-off channel from CNBC, called "America's Talking."[13] Ailes left CNBC and America's Talking in late 1995 when Microsoft and NBC created a joint venture to reprogram America's Talking as MSNBC.[14]

CNBC grew during the 1990s, launching Asian and European versions of the channel in 1995 and 1996 respectively.[15] In 1997, CNBC formed a strategic alliance with Dow Jones, including content sharing with Dow Jones Newswires and The Wall Street Journal and the rebranding of the channel as "a service of NBC Universal and Dow Jones".[16] CNBC's international channels were then merged into a 50-50 joint venture with their Dow Jones-owned rivals, London-based EBN (European Business News) and Singapore-based ABN (Asia Business News) in 1998,[17] while ratings grew on the U.S. channel until the new millennium's dot-com bubble burst in 2000.[18]

Englewood Cliffs headquarters

The new millennium also brought changes to the network in 2003, moving its world headquarters from 2200 Fletcher Avenue, Fort Lee to 900 Sylvan Avenue (Route 9W) in Englewood Cliffs, New Jersey, which features completely digital video production and studios made by PDG Ltd of Beeston, Nottinghamshire and the FX Group of Ocoee, Florida.

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, however.[19]

Today, CNBC provides business news programming on weekdays from 4:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk shows, investigative reports, documentaries, infomercials, and other programs at all other times. A rolling ticker provides real-time updates on share prices on the NYSE, NASDAQ, and AMEX, as well as market indices, news summaries, and weather updates by NBC meteorologists (prior to March 27, 2006, all of CNBC's weather reports were provided by AccuWeather). A rotating top band of the screen rotates provides real-time updates on index and commodity prices from world markets.

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 its Asian and European siblings (see "On-air presentation" below for more information). As of January 4, 2016, the network's 480i standard definition feed now shows the same 16:9 HD feed on its 4:3 picture, due to the application of the AFD #10 flag.

Melissa Lee and Simon Hobbs on assignment during the show Squawk on the Street

CNBC Silicon Valley bureau chief Jim Goldman on assignment at the Palo Alto Apple Store

The TV studio at the NASDAQ MarketSite, where CNBC's market updates and the show Fast Money are hosted

An inside look of CNBC New Jersey headquarters

An inside look of CNBC New Jersey headquarters

Much of CNBC's on-air talent has been with the network for some time: Sue Herera and Scott Cohn joined CNBC at its inception,[40][41] and remain on the air co-hosting Power Lunch and as senior correspondent respectively. Some personalities who joined CNBC from FNN in 1991, such as Bill Griffeth and Joe Kernen, are also still with the channel.[42][43] The network has of late sought to increase the profile of its on-air team with the launch of rival business channel Fox Business Network – although CNBC's best known personality, Closing Bell host Maria Bartiromo,[44][45][46] made regular appearances on other NBC News broadcasts such as The Today Show and anchored the syndicated Wall Street Journal Report before she left for Fox Business Network. Other CNBC hosts such as Jim Cramer have also been used increasingly across NBC's output.

There is a fairly clear long-term correlation between the performance of global stock markets and the audience ratings of CNBC. The network had a difficult time attracting viewers in the first half of the decade, but has seen viewership increase from a 2005 bottom to record highs in 2008, coinciding with the subprime mortgage crisis. CNBC continues to possess the wealthiest audience (in terms of average income) of any television channel in the United States.[47]

During the late 1990s and early 2000s, CNBC's ratings were increasing sharply along with the stock market, often beating those of CNN during market hours.[48] In 2000, daytime viewership of the network peaked at 343,000,[49] around the time the Nasdaq Composite crossed 5000. However, when the dot-com bubble began to burst later that year, CNBC's viewing figures declined in tandem. The network's ratings steadily fell quarter after quarter, year after year, until bottoming in Q1 2005, with an average viewership of 134,000 during the day.[50] From the bottom, the network, along with the markets, rebounded significantly – average daytime viewership (6:00 a.m. to 6:00 p.m.) reached a 7-year high of 310,000 viewers in the first quarter of 2008.[47] Coinciding with the extreme market volatility of the ongoing global economic crisis, ratings hit an all-time high of 416,000 in Q3.[51] Although the figures remain considerably less than those achieved by Fox News and CNN today, it has still had a 210% increase in viewership since the beginning of 2005. Despite the viewership slump at the turn of the decade, CNBC has remained extremely profitable: average annual revenues top $510 million[52] while profits for the network exceeded $333 million in 2007,[47] making CNBC a cash cow for NBC Universal and its parent company, Comcast. CNBC is the second most profitable of NBC Universal's thirteen cable channels in the United States, behind only the USA Network.[47]

The network often sees large spikes in viewership on days of major market moves. During the week of February 27, 2007, when the Dow Jones Industrial Average had its seventh-largest loss ever, CNBC's continuing coverage of events[53] resulted in its best ratings week since the market crash after the September 11, 2001 terrorist attacks, with Kudlow & Company, Mad Money, and Fast Money recording their best ratings ever in the coveted 25-54 demographic.[54] When the financial crisis wreaked havoc in the worldwide equity markets, CNBC recorded some of the highest ratings in the network's two-decade history. For the week ending September 19, 2008, the network averaged 502,000 viewers during the "business day" (defined by the network as 5 a.m. to 7 p.m.). During this week, Squawk Box, Closing Bell, Fast Money, Mad Money and Kudlow & Company recorded their best viewership figures ever.[55] On September 29, 2008, when the markets faced their worst single session performance since the crash of 1987, CNBC saw its best ratings day ever, with an average 726,000 viewers tuning into the network during the business day.[56]

While daytime viewership has rebounded from its 2005 lows, primetime ratings remain weak relative to those of other news networks[57] and CNBC continues to try and rejuvenate its evening lineup. Along with developing new program formats such as Fast Money and Mad Money, the network operates a "checkerboard" programming approach, airing various genres of shows including documentaries, town-hall style discussions and repeats of some NBC output.[58]

When discussing the network's ratings, CNBC management and press releases regularly suggest that considerable viewership, particularly during the daytime, is done "out of home" in places such as offices, restaurants, fitness centers, financial institutions, and hotel rooms.[59][60] As this demographic is not covered by Nielsen ratings, CNBC claims that the network's true viewership is considerably higher than what is measured.[60]

On January 6, 2015, the Wall Street Journal reported that CNBC would be partnering with Cogent Research to calculate the viewership of its business day programming by surveying financial advisers and investors. This change will help to provide a more accurate measurement of the network's out-of-home viewership; Nielsen will still be used to track the viewership of its entertainment programming.[61]

CNBC Europe's headquarters in Fleet Place, London

CNBC Asia's headquarters in International Plaza, Singapore

CNBC has operated international versions of the channel since 1995, when CNBC Asia originally launched. CNBC Europe followed in 1996. On December 9, 1997, Dow Jones & Company and NBC announced the merger of their international business news channels. This resulted in a merger of CNBC Europe with Dow Jones' European Business News, and likewise of CNBC Asia with Asia Business News. From then (until January 2006) the international CNBC services carried the tagline "A Service of NBC (Universal) and Dow Jones" (or depending on other local partners, a variation of this tagline). Correspondents from Dow Jones Newswires contribute to the channels. On December 31, 2005, the sale by Dow Jones of its interests in the international CNBC channels took effect. On January 1, 2006, the "A Service of NBC Universal and Dow Jones" tagline was removed from the international CNBC channels, in line with this.

In 2007, CNBC Asia dropped the word "Asia" from its channel idents, on September 30, 2008, CNBC Europe similarly dropped the word "Europe" from its logo. This means the three major CNBC channels: U.S., Europe, and Asia are all known on-screen as simply CNBC.

CNBC Europe is headquartered in London, and CNBC Asia is headquartered in Singapore.

Besides CNBC Europe and CNBC Asia, the network also operates a number of local business news channels in association with other companies. These channels include Class CNBC in Italy, CNBC-e in Turkey, CNBC Arabiya in the UAE, Nikkei CNBC in Japan, CNBC TV18, CNBC Awaaz, and CNBC Baazar(A special Gujarati Language channel) in India, CNBC Pakistan in Pakistan and TVN CNBC in Poland.

CNBC Europe and CNBC Asia are rebranded in some parts of the world with tickers containing local financial information. Examples include CNBC Nordic, CNBC Singapore, CNBC Hong Kong and CNBC Australia (CNBC Australia and Singapore also produce five-minute updates at 12:55 p.m., 5:55 p.m. and 9:55 p.m. for free-to-air network, SBS TV).

In North America, CNBC World airs business programming from CNBC Europe and CNBC Asia, as well as weekly magazine programs provided by CNBC TV18 and the United Nations.

In Canada, CNBC can be seen with most of the programming identical to the U.S. counterpart. However, due to Canadian programming rights, the 9:00 p.m. slot which had shown television programming in the past such as Deal or No Deal, The Apprentice, 1 vs. 100, and Heads Up Poker, as well as any and all Olympic Games coverage that the channel continues to carry, are replaced by CNBC World programming. However, documentaries are shown in Canada. This had the making of a major problem, as a highlight episode of The Apprentice 5 that aired April 23, 2006, was assumed to not be available anywhere for Canadians due to these blackouts. While the first airing at 9:00 p.m. ET was blacked out, the second airing at midnight ET was accidentally shown. Blackouts on episodes that originally air on NBC and Global are likely to continue. However, occasionally, the television shows are shown and are not blacked out, possibly due to a mistake in transmission.

CNBC Africa was launched on June 1, 2007.[76] With roughly $600 million spent on advertising in South Africa alone, the network sees great potential in grabbing a potential share of that pot. It has bureaus in Kenya, Nigeria and South Africa and produces nine hours of local programming per business day.

The launch of the Korean language channel SBS-CNBC in January 2010 marked the fifteenth CNBC-branded channel worldwide.[6]

On January 10, 2016, CNBC and Trans Media announced a strategic partnership that will see the creation of the Indonesian language channel CNBC Indonesia.[77]

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  CNBC Awwaz headquarters at night in New Delhi
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  CNBC Awaaz News Van
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  TVN CNBC Biznes interview
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  CNBC Arabiya headquarters

CNBC business news and market reports are updated hourly and available on demand on Smart Speakers including Amazon Echo devices with Alexa, Google Home and app devices with Google Assistant, and on Apple Siri voice interfaces including iPhones.[78] Many CNBC TV shows such as Mad Money and American Greed are available as podcasts for on-demand listening. Original content podcasts include "Strange Success" with Jane Wells, "Speakeasy" with John Harwood, and "Fort Knox" with Jon Fortt.[79]

CNBC.com is the companion website to the financial network. It was launched in 1996 with minimal content, other than showing program grids, host biographies and basic network images (on the internet, business news then was handled by msnbc.com, which later became NBCNews.com). The site gradually progressed alongside internet technology, giving investors more useful information such as stock quotes, news bulletins, in-depth programming information and a whole host of other data.

In August 2001, CNBC.com merged with MSN's Moneycentral.com, creating "CNBC on MSN." This new partnership allowed the two parties to meet two objectives:

1. provide richer content to visitors, with expanded news offerings, a wider array of stock tools (including interactive charting, free online portfolio managers) plus more in-depth market coverage and
2. more effectively compete with other finance related websites, such as Marketwatch.com, AOL Finance and Yahoo! Finance.

During this period, the editorial content on the CNBC.com site was controlled by Microsoft Corporation. CNBC.com officially ended its relationship with MSN in mid-November 2006.[80]

CNBC.com was relaunched on December 4, 2006. The website provides new online tools for investors and better integration of the website with daytime programming. Some of the new features include:

• exclusive online interviews (the first being with Chicago Fed President Michael Moskow)
• live market updates from CNBC personalities three times per day during the trading day (discontinuing the "Market in a Minute" updates in June 2007)
• a streaming desktop ticker, real-time data and the network's "tick-by-tick" charts (for major indices)
• themed blogs by various correspondents (i.e., "Tech Check" with tech reporter Jim Goldman)
• unedited, full-length interviews from CNBC specials or other on-air interviews
• free video of recent on-air segments, interviews, features etc.
• an exclusive "CNBC.com" set built at CNBC's U.S. headquarters from which the market update segments (among other things) are taped
• blogging from on-air personalities about the various "goings-on" within the network
• an original show to air exclusively online with Maria Bartiromo, Bill Griffeth and Joe Kernen (yet to debut)[81]
• top-of-the-hour summary of business news entitled CNBC.com News Now which is also seen during the trading day on CNBC TV.
• original special reports including their annual 'America's Top States for Business'[82] special and 2012's 'Fiscal Cliff: America's Looming Economic Crisis'[83]

Content on the new website is edited 24 hours a day during the business week. CNBC U.S. updates the content from 6:00 a.m. to 7:00 p.m. ET, CNBC Asia then takes over from 7:00 p.m. to 2:00 a.m., and CNBC Europe handles the remaining four hours.

In August 2012, CNBC.com attracted 6.9 million unique visitors, according to comScore Media Metrix. Its iPad app recorded 547,000 unique visitors and its iPhone app attracted 551,000 unique visitors.[84]

CNBCplus

CNBC's current control room

CNBC's SNG

"CNBCplus"[85] was a subscription-based service (similar to the now-defunct CNN Pipeline) which allowed users to have 24-hour, commercial-free access to three individual CNBC feeds, CNBC U.S., CNBC Europe, and CNBC Asia along with access to an archive of over 100,000 VOD clips, updated with up to 200 clips daily. It also offered a search feature allowing the user to find video clips using keywords. The CNBCplus service was replaced by CNBC PRO.

CNBC HD showing the additional green sidebar (right) showing additional market statistics, while the main show appears on the left. This format was used from its launch on October 10, 2007 through October 10, 2014. The screenshot above was taken during Closing Bell on April 9, 2014.

CNBC HD (formerly CNBC HD+) is a 1080i high-definition enhanced simulcast of CNBC, that was launched on October 10, 2007. The channel used a modified screen format during trading-day programming, which shifted the existing 4:3 feed to the left of the screen to add a sidebar on the right side of the screen (which contained additional market statistics and a window showing video content from CNBC.com, whose audio was carried on SAP until 2011, when the service seemed to be discontinued; silent video promos for upcoming and primetime programming were aired in the window), and a wider version of the ticker. Primetime programming is shown in full-screen 16:9 and usually produced in HD.

On May 30, 2012, the right sidebar graphic was changed to show headlines (business news and otherwise), upcoming corporate earnings releases, upcoming economy data, easier-to-read charts, market statistics and stories coming up on the program being aired. On May 7, 2013, the CNBC HD ticker grew in size to match its standard-definition counterpart. The five "flippers" on the top were dropped to four, with the fourth one (on the upper right-hand corner of the screen) displaying the times of day in each global time zone (Eastern, Central, Pacific, London, Dubai, Singapore). On July 25, 2013, the right sidebar graphic was changed again, this time to show slightly larger displays (including charts).

On October 13, 2014, CNBC HD was relaunched, due to the aforementioned network-wide switch to a full-screen 16:9 presentation. The sidebar graphic was permanently removed as well (having started with Mad Money on August 4 of the same year and before that, during commercial breaks), which in turn, led to all other live shows being presented in full-screen 16:9 and therefore, eliminating the enhanced format altogether.

DirecTV was the first provider to introduce CNBC HD, with various others eventually taking suit (all of the providers have the HD feed as of the October 13, 2014 redesign).[89]

CNBC News in Philadelphia International Airport

CNBC holds stores (can be called bureaus) called "CNBC News" in many airports across the United States. Since 2001, CNBC has been in a licensing arrangement with The Paradies Shops to open these stores,[90] which sell limited CNBC merchandise, along with newspapers, magazines and a small selection of snacks and drinks. Locations include:[90]

• CNBC has been criticized for allegedly amplifying bull and bear markets, particularly in the run-up to the Dot-com bubble and the subprime crisis.[93][94] 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."[93]
• 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.[95][96] Despite the lack of direct comments by the network, several personalities have defended their predictions and comments.[97][98]
• CNBC was accused by the Obama administration of "cable chatter"—the excessive and sometimes brutal discussion on a particular topic, often one-sided.[99][100]
• Jim Cramer's stock picks on his CNBC show Mad Money were found by Barron's magazine in 2007 to have underperformed the S&P 500 stock index over the previous two years. 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%." CNBC disputed the magazine's findings.[101]

• Bloomberg Television
• Fox Business Network

Wikimedia Commons has media related to CNBC.

• Official website