Word: cnbc
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...promotional ads, but the Consumer News & Business Channel, a cable service that will be launched next week by NBC, is causing plenty of stir. The channel will compete directly with cable's chief business-news outlet, the Financial News Network (FNN). But some in the cable industry believe that CNBC has a much bigger rival in its sights: Ted Turner's cable news giant...
Emanating from a new 40,000-sq.-ft. studio facility in Fort Lee, N.J., CNBC's offerings will have as a centerpiece a daytime "money wheel": a continuous half-hour cycle of business headlines, market reports, consumer news and other business-related items. In the evenings, however, the programming will range more widely. John McLaughlin, host of the syndicated McLaughlin Group, will do an hour-long talk show with such guests as Malcolm Forbes, Henry Kissinger and Phil Donahue. Dick Cavett has been signed as host of another nightly interview program; his first week's guests will include Jimmy Breslin...
...CNBC officials deny that they are developing a general-news channel to challenge CNN. "It will be confined to business and consumer news," says CNBC President Michael Eskridge, who oversaw NBC's Summer Olympics coverage last year. "We think that's an area that is underserved." CNBC's contracts with cable systems, he points out, stipulate that the network must stay within its business-news charter; if it expands, the systems can drop...
Initially, CNBC officials report, the channel will reach 13 million cable homes -- a respectable starting figure, though substantially lower than either FNN (32 million) or CNN (50 million). Costs are expected to top $60 million before the channel begins operating in the black. (Revenues will come from advertising and a basic charge to cable systems of 7 cents per subscriber.) Most cable analysts, however, give top-rated NBC and its well-heeled corporate parent, General Electric, a good shot at making the service a success...