Word: cnn
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...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, CNN...
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...
...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 the channel only after failing to "stifle" the competition by buying CNN, a proposed deal that fell through a few years ago. Cable's Captain Outrageous vs. broadcasting...
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's CNN...