CNBC Failure…

Earlier this afternoon I got a press release from CNBC…


What: With the breakdown in debt talks and all attention on how the global stock markets will react, will live stream CNBC Asia’s coverage of the opening of the Asian markets on its homepage.

Yes, you read that right. CNBC makes a big deal about global stock markets and debt crisis but wouldn’t take CNBC US out of tape to cover it…or even simulcast CNBC Asia. No, you had to go to to watch CNBC Asia.

Further making CNBC’s blown call look even more ridiculous, CNN, MSNBC, FNC, Bloomberg, and FBN were all live tonight covering the latest developments. CNBC was the only major network to stay in tape.

It would be somewhat amusing if this wasn’t just the latest example of CNBC blowing weekend coverage and getting lapped by the competition. Now, it’s just plain sad. The network seems incapable of learning from its mistakes.

5 Responses to “CNBC Failure…”

  1. Without any firm details about the legislation available, was there much CNBC could cover without just duplicating what its sister network was already doing?

  2. Covering what the Asian Markets were doing was germaine. That’s not MSNBC’s charter.

  3. I think you missed or I wasn’t clear on my point. The Asian markets didn’t open until Sunday evening so how many would watch if CNBC did simulcast it? As for the rest of the weekend that CNBC stayed on tape, without details about whatever plan might make it through congress there isn’t anything for CNBC to cover that wasn’t already being covered on MSNBC. While Bloomberg doesn’t count since it has no regular news sibling, did either it or FBN really present anything different than what was on the news channels?

  4. I think this arguement essentially boils down to whether CNBC World has a significant-enough distribution in the US to argue that a simulcast would be a waste of transmission space. I know that Neil Cavuto has been screaming from the rooftops about how FBN will be airing the Asian market reaction to the debt ceiling too-ing and fro-ing, so it would be interesting to know how FBN’s Asian market coverage would stack up against CNBC Asia’s usually high quality coverage.

    Bloomberg would also have aired the Asian market coverage as per their usual procedure as an effective 24 hour worldwide business network. I doubt that their coverage would have had any emphasis on the debt ceiling problem in the US though, only mentioning when required.

    I certainly agree with ICN that there is a massive differential between a News Channel’s coverage of the debt ceiling crisis which would be from a political standpoint, to a business network’s coverage, which would be from a financial standpoint. Two very different ways to come at the story, and a hugely important variation on reporting for those with a political or financial interest.

  5. A good example…

    Therefore here is one more demonstration of precisely what Billy was referring to…

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