In 1980 CNBC made a humble start with Satellite Program Network (SPN) which was later renamed as Tempo Television broadcasting old movies, instructional, and entertainment programs. The intent to purchase Tempo was later changed as NBC ultimately went on to lease transponder of the station in June 1988. Tom Rogers made arrangement to relaunch the Consumer News and Business Channel on April 17, 1989. NBC and Cablevision joined hands to make the 50-50 joint venture a success. Despite having NBC at its back, the competitor “Financial News Network” was giving CNBC the tough time as the reach of the later to 17 million households was not even the half of former’s potential reach.
CNBC launched on April 17, 989 is a United States based Business news TV owned by NBCUniversal News Group, which is a subsidiary of NBCUniversal which in turn is a broadcaster in the ownership of Comcast. The basic cable, satellite and internet station covers the U.S. stock exchanges, International financial markets and trading activities in and outside America. Initially established in 1989 as the Consumer News and Business Channel following a joint venture between Cablevision and NBC, it later purchased Financial News Network in 1991. The move came handy as the workforce and distribution of the station was positively affected. Cablevision later sold out its stake to NBC, giving up the sole ownership to NBC.
The audience share measured in February 2015 shows availability in 93,623,000 domestic households in US. CNBC International was ranked 19th most valuable US news brand wroth USD 4 billion in 2007. Apart from international broadcasts, localized feed is also available in different parts of America. Local versions of CNBC (CNBC TV18, CNBC Asia, Class CNBC, Nikkei CNBC, CNBC Africa) of whom NBCUniversal is owner of a minority shareholder may be accessed in the respective countries.