Since its inception, CNBC has developed into a principal U.S. business and financial cable television network and one of the world’s most important financial news sources.
The number of U.S. citizens owning stocks and bonds–often through various retirement plans–grew substantially in the second half of the twentieth century. It was thus probably inevitable that a major new financial information source would emerge on the most advanced communication network available. From a very modest beginning in 1980, CBNC grew until it was worth billions of dollars, becoming the
CNBC started in 1980 as the Satellite Program Network (SPN), broadcasting low-cost programming such as old movies and instructional programs. The National Broadcasting Company (NBC) leased the channel in 1988 and changed the name to Consumer News and Business Network in 1989. At first, CNBC struggled in competition with the Financial News Network (FNN), but it prospered when FNN floundered and NBC bought out FNN and its other partners. By 1991, NBC began marketing the channel solely by its initials CNBC.
During the 1990’s, CNBC grew dramatically, adding an Asian version in 1995 and a European version in 1996. By partnering with Dow Jones Newswire and The Wall Street Journal, CNBC gained access to the world’s most respected business and financial news sources, and its prestige rose accordingly. In 2005, NBC Universal acquired full control of the network, although it continued to use its former partners as news sources.
CNBC has become a major international source of business and financial news, and it employs the most advanced “scroll” lines to provide a wide variety of financial data instantaneously. Operating from 4
Bloomberg’s Business News Services
Cable News Network
National Broadcasting Company
Television broadcasting industry
The Wall Street Journal