In this week’s Broadcasting & Cable cover story, Marisa Guthrie writes about the challenges facing CNBC. Despite record ratings due to months of Wall Street volatility, managers are now involved in “the messy business of trimming the network’s budget.”
…the network is now in the process of slashing as much as 10% from its budget. People at the network, says one staffer, “are scared s—less.”
CNBC’s longform unit has already been downsized from 25 to about a dozen, Guthrie writes. The Emmy-winning unit is headed former 60 Minutes II executive producer Josh Howard. And, Guthrie writes, “there is equivocation about The Big Idea [with Donny Deutsch], according to sources. The show has struggled to grow its audience despite some recent retooling, and there have been conversations about canceling the show.”