Word: cnbc
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Dates: during 1989-1989
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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...
...waters could be treacherous. The channel space on cable systems is limited, and in most areas CNBC would have to supplant another service to win a spot on the dial. (FNN officials say their channel has been dropped by only a few systems to make room for CNBC.) In addition, the channel's programming, aimed at both hard-core market watchers and ordinary consumers, could be an uneasy mix. Then too there is Ted Turner to deal with. The CNN founder has already fired one loud volley at the competition, denouncing NBC executives as "bozos" and claiming that they started...
...CNBC is its name; financial and consumer news is its game. But some industry observers feel that NBC's new cable entry is really taking aim at Ted Turner...