CNBC will not be covering SALT Las Vegas this year, the hedge fund conference that has become a must-attend event on Wall Street since investment firm SkyBridge capital launched it 7 years ago.
“We have no plans to cover SALT,” said a source with knowledge of the situation.
CNBC used to have an exclusive deal to cover the conference on television. Set up just outside the main conference room, the biggest names on Wall Street could just drop by CNBC’s set and chat between talks give by a star studded list of speakers ranging from former President Bill Clinton, to Third Point LLC founder Dan Loeb and actor Kevin Spacey. Last year Lenny Kravitz gave a concert.
But this year there will be none of that. SkyBridge founder Anthony Scaramucci parted ways with CNBC last summer. A former contributor to the network, his contract was left to lapse after he announced that he’d purchased the rights to re-air “Wall Street Week“, a weekly financial news show that aired on PBS from 1970 to 2005.
Sources say that CNBC was upset that Scaramucci didn’t disclose that he had purchased the rights to the show, even though he signed a non-disclosure agreement during the deal. It probably didn’t help that he poached star CNBC producers Susan Krakower and Raymond Borelli to produce “Wall Street Week” either. Krakower created CNBC’s “Fast Money” shows as well as “Mad Money with Jim Cramer.”
“I can’t comment on CNBC’s executive decisions as it is sometimes hard to know what they are thinking,” Scaramucci told Business Insider. “We will miss them but welcome Bloomberg and Fox Business to SALT and look forward to breaking news there.”
This year SALT will take place at the Bellagio in Las Vegas from May 5th to May 8th. Speakers include former President of the Soviet Union Mikhail Gorbachev, former Secretary of State Condoleezza Rice, former Federal Reserve Chairman Ben Bernanke, and more.
A source familiar with CNBC’s thinking seemed nonplussed: “CNBC receives requests to cover conferences that happen around the globe every day.”
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