| CNBC is an American pay television business news channel owned by NBCUniversal News Group, a division of NBCUniversal, with both indirectly owned by Comcast. Headquartered in Englewood Cliffs, New Jersey, the network primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.
CNBC had its beginnings in 1979 as the Satellite Program Network (SPN), showing a low-budget mix of old movies, instructional and entertainment programs. The channel later changed its name to Tempo Television. After initially signing a letter of intent to acquire Tempo, NBC eventually opted for a deal to lease the channel's transponder in June 1988.
CNBC had considerable difficulty getting cable carriage at first, as many providers were skeptical of placing it alongside the longer-established Financial News Network. By the winter of 1990, CNBC was only in 17 million homes – less than half of FNN's potential reach – despite having the muscle of NBC standing behind it. The original financial television concept predates both CNBC and FNN, as several independent TV stations commenced financial programming starting in the late 1960s (WCIU Chicago & KWHY Los Angeles); as Gene Inger, a Registered Investment Advisor, pioneered financial programming in several cities; notably San Francisco, Miami / Fort Lauderdale; then his part-owned WWHT Channel 68 Newark (serving the NY market).
CNBC was established on April 17, 1989, as a joint venture between NBC and Cablevision as the Consumer News and Business Channel. Two years later, in 1991, the network acquired its main competitor, the Financial News Network, a move which expanded both its distribution and its workforce.
On October 13, 2014, coincidentally the 11th anniversary of CNBC's relocation to its current facilities in Englewood Cliffs, NJ, CNBC switched to a full 16:9 letterbox presentation, in line with its Asian and European siblings (see "On-air presentation" below for more information).
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