The New York Post‘s Page Six writes about issues at CNBC Europe potentially resulting in some programming cutbacks at home.
CNBC Europe recently “didn’t meet its budget for the first time in forever,” a source said, triggering, “wide-ranging consequences.” Some remotes for CNBC in the US have been canceled. “Squawk on the Street” was slated to go on a road trip but it’s been scrapped.
If it is true, the story would be very surprising, as CNBC has long been NBCUniversal’s second most lucrative cable network after cable leader USA Network.
CNBC’s U.S. network generated $333 million in profits in 2007, as this Fortune article notes. Those are the sort of numbers most cable executives dream of. That said, international channels can often be a different story, and CNBC Europe does not have the stranglehold on business news that CNBC domestic or CNBC Asia has.
A spokesperson for CNBC seemed to smack down the overall argument, while leaving a door open for the cuts referenced by Page Six.