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Is CNBC For Sale?
There may be some major changes in the NBC ownership structure according to media and financial pundits. Even as General Electric is dealing with significant balance sheet problems, which have been temporarily swept under the rug compliments of unjustified Goldman Sachs stock upgrades, it may be looking at getting rid of its "vanity play", the NBC TV station family, which of course includes CNBC. According to MarketWatch:
Even in good times, NBC can seem to resemble a loose shirttail in GE's body of assets. If you could figure out why GE has dubbed NBC a "core asset," then feel free to call GE CEO Jeffrey Immelt. He's likely wondering at times, too.
NBC's image was shaken in July when Ben Silverman, co-head of NBC's entertainment operation, exited the network. The Wall Street Journal observed that the executive's departure was "ending one of broadcast TV's high-profile experiments in re-inventing itself as its dominance continues to wane."
And while NBC is having few and far between successes, even as the popularity of the mainstay "Tonight Show" drops (from 18 million viewers down to 6 million), the network's other presumably profitable channels, CNBC in particular, have also seen a dramatic drop in their viewer metrics. The melting ice cube of the traditional media core holding has lead MarketWatch to observe the "the key question is when -- not if anymore -- Immelt will sell NBC, whose portfolio includes NBC, MSNBC, CNBC, Bravo and other assets."
Michael Holland adds:
"Immelt has shown that he is capable of disposing things that don't fit the mainstream at GE," Holland pointed out. Holland said Immelt would take seriously the prospect of selling NBC "if he were offered a bid for it today. But now is not the best time. They're not doing that well and valuations are down. This is not time to get a great price.
Unfortunately this very well may be the best time for a media venture, as the market gradually begins its reintroduction with gravity. Recall that Harbinger recently sold a major stake of its NYT holdings: it appears others have top ticked the media market. Jeff Immelt is likely not too far behind Phil Falcone in this regard. As such, it is unlikely that valuations will increase markedly from this point on. The only question is who will acquire the NBC family, and whether subsidiary companies such as CNBC and MSNBC will be included in the package. At first blush, it does not seem a practical move, as most major networks have been developing their own business related channels: if anything, the probability of selective picking off of specific anchors and personalities would make much more sense, than paying for the "intangible" value of a station like CNBC, which over the past 6 months has attained a definitive reputation of selective reporting bias and prejudice.
Perhaps this is the moment for CNBC to start being an objective TV station once again. After all, that is the only way it can hope to regain its floundering viewership. Yet, while it is caught in the Catch 22 of being a subsidiary of one of the most financially troubled conglomerates, the likelihood that it will promote objectivity and diligent reporting is next to negligible: GE has nothing to gain from CNBC spreading the truth about the domestic economy without 10 shades of rosiness. Thus CNBC is caught in a toxic spiral, whereby its value drops every single day it remains a GE sub. And Jeff Immelt is likely very much aware of this phenomenon. Which is why readers should not be too surprised if in the next several weeks or months Bob Pisani uses his "victory for the bulls" catchphrase a mere 10 times per day or less, as it may very well be time for a strategic shift in orientation of CNBC, and quite possibly, an outright sale.
h/t AsiaBlues
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NBC is no longer able to accurately broadcast on any media with any thing for any length of time with any audience.
There are millions of dum dums who are changing channels to other shows that count like Fox for example.
NBC should fade into history along with all the other dozens of TV broadcast material.
I am old enough to remember Romper Room and think I will be old enough to bury NBC.
What journal are you planning on publishing in, Cheeky Bastard?
i don't know. i wrote the paper for shits and giggles ( i was bored, so i decided to do something ). Probably in one about mathematical logic or modal logic, or something third. Maybe i don't even publish it at all; just attach in on scribd and leave it there.
Publish on i09. Love the site. I choose science from dropdown, but lots of goodie here. We are not alone - and I always thought we were. hmmmm.
http://io9.com/5362294/superhot-mega+earth-discovered-in-distant-solar-s...
Is this for real? If it is then we are in deep sh**...
http://zentrader.ca/blog/?p=2322
CNBC for sale? i'll pay $10 bucks for it....recognizing up front i might be paying more than its real value.
You should get it published if you think it is decent, Cheeky Bastard.
And you don't deprive the world of your insight, even if it is a specialized subworld. ;)
Peer review sucks but it sharpens your wits.
Has anyone here read "Secrets of the Temple" by Greider?
And once again, time for the hot blondie cutie in distress. Mike Oldfield's mega hit.
http://www.youtube.com/watch?v=8YyiFhfzQRA
She's a skag, so is he, and so is the music.
I would like to urge all of you to stop what you're doing and watch this presentation by Pastor Lindsey Williams:
http://www.youtube.com/watch?v=NbakN7SLdbk
It will take you more than an hour (conveniently broken into 8 ten minute clips), but it is very worth it.
If you only watch one thing, please watch starting at 2:20 on Part 8:
http://www.youtube.com/watch?v=CC61X78-OI0&NR=1
He discusses the fate of some of the folks who signed the Declaration of Independence.
The presentation is about how the world is controlled through oil, and how the dollar is tied to oil sales, and is the only reason why the dollar has lasted as long as it has.
Ok, I'll say it: it's a must watch. No, seriously. Stop what you're doing and watch it.
I am Chumbawamba.
Saw part 8. Will verify. Very interesting and important brother. Thanks
this is old news pardner. now here's some current news... oil will fall and BREAK the 32 dollar. i know i know. doesn't seem likely. watch and be amazed what happens in a deflationary depression.
I was skeptical, but desperate for a distraction from what I'm doing. Wow. You really weren't kidding. Part 7 of 8 is also quite riveting and current (despite being dated 2007), I will definitely watch the whole presentation. Check out a more recent "rocking-chair chat":
http://video.google.com/videoplay?docid=-2219026291450576553
I am just curious as to who "they" are... The elite of the world is a little broad a definition. I will try to take some time to fact-check some of this, but the logic seems internally consistent thus far.
It's a little US centric, overassuming of human intellect, and underestimating of greed.
While I admit some simplifications need to be made for brevity, he made a few which were very misleading but used as reenforcement nevertheless.
My biggest problem with him (and like a lot of other Americans) is that he makes it seem like the US is in power. Taking what he is saying at 100% face value, you can easily come up with the conclusion that the US is helplessly getting f'd in the a, but it is somehow more reassuring to believe that wealthy Americans still hold all the cards.
TheStreet.com should buy CNBC.
...then Cramer can stop holding back and pump his stocks ad nauseum
wow CB is on the roll tonight.
Do you think ever increasing entropy in the Universe has something to do with appearance of complex systems = life as the result? In a way ever increasing disorder of the total system (universe) is balanced out by increasing complexity within the universe. So is the equilibrium between increase in chaos and increase in "islands of complexity" possible?
Perhaps.
celente's latest interview. pretty darn good. http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2009/9/25_G...
Barofsky Sees a 'Far More Dangerous' Financial Situation http://www.youtube.com/watch?v=BvwKzF6TLKo
and last but not least, since i'm a hardcore call of duty freak... http://www.youtube.com/watch?v=V4PMRFkx07g
The rally from March is actually the cnbc rally, ever since Hanes proclaimed his "Hanes bottom" they have been pumping this "new bull market" crap non stop.
cnbc actually is powerful enough to change the sentiment and the "tick" direction on mere HYPE.
This type of power can be very dangerous and valuable in the hands of say Goldman, Barclays or JPM, so, the value of CNBC resale value is a lot higher than most here presume, just think of all the manipulation and hype any of the above could and would deliver.
In reality a class action suit should be initiated for this fake CNBC "NEW BULL MARKET" crap, when in fact the world is on the verge of depression
The carnage is already evident by the way they shift the same anchors around to cover all their bases on various programs. I mean seriously, as we speak, that dumb bimbo Trish is on Meet the Press and being portrayed as some kind of financial expert.
Is America ready for Beaker on Sunday morning?
CNBC is just load of stupid...trying to watch it for 5 minutes makes one stupider already. It's just amazing how crap like that can be even produced.
Loud mouthed heads screaming obscenely stupid things by the soundbite and expect that to be of interest? Please.
Re: Pastor Lindsey Williams
His 1980 book "The Energy Non-Crisis" is a must read. He served as a chaplain while the Alaska pipe line was being built in the 1970s. He became a confidant of many oil execs that made him privy to some very confidential information. Conspiracy theorists will love it because he seems to be very credible and it confirms a lot of suspicions. btw the book is out of print and used copies were selling for over 1k last summer during the time that the Squid drove oil to $147/barrel. Pastor Williams mysteriously withdrew from public life last year. Once you read his shit you'll understand why.
I was able to read his book that had been posted online. Copies are hard to find.
Seeing CNBC go TITS UP would be the greatest satisfaction in the world. To know that all those shameless cheerleading shills and pump and dump queens like Maria Bartiromo would be standing in the unemployment line would be the ultimate KARMA.
They are nothing more than a mouthpiece for their corporate masters!!
Dylan Ratigan left CNBC for a REASON!!
It has never been the same without him and the crazy bald guy that at least told the truth now and then.
Those idiots on "Fast Money" just look like the biggest bought and paid for shills in the nation right now. Man..where is your PRIDE? HOW do you sleep at night?????
If I'm feeling extra clever I watch Power Lunch to dumb down.
Can't a rich libertarian buy the damn station?! It would be great to hear mention of that old constitution on tee vee!
Let it burn.
We could buy CNBC for our own propaganda network.
As I turn my pockets inside out, I find I have twenty bucks and some pocket lint to contribute to the cause.
Considering the depth of the talent at CNBC, I think we can get the whole damn thing for my pocket lint and a stick of gum.
Anyone have a stick of gum they are willing to part with for the cause? Then all we have to do is contact Imhelt with our offer.
I think he would be willing to part with LIESman and CarusoCabrera for some pocket lint and a stick of gum. That's about all they're worth.
Zero Hedge could at least email them the offer of, what 30 some odd bucks have been pooled here, some gum, and the pocket lint. You just never know, they might say yes. But then we'd get the bills they can't pay too, huh?
GE/Jack Welch is bust. Thats why they have a 300 billion$ gift from the federal government/taxpayor. (Some business guru, this Welch.) Is this what they taught him Harvard Bizness Skuhl? They bought CNBC to control the media/people. They bet big on NFL ratings. They lost. They need to go bust.
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