CNBC parent company Comcast is telling the financial news network that it needs to get its financial house in order, The Post reports.
Inside sources said that CNBC Europe didn’t make budget this year “for the first time in forever” and that is triggering words from executives on high that the whole network needs to watch its wallet.
The cutting has already started. Some remotes in the U.S. have been canceled, Squawk on the Street will stay in-studio instead of doing a tour around the country, and Michelle Caruso Cabrera has been told that she can’t travel as much as she did earlier this year when she was reporting on the Euro debt crises.
However, in a conversation with The Post, one CNBC rep made the whole story sound baseless:
“CNBC has never been stronger or better and is tracking for a sixth consecutive year of record financial performance. You don’t become first in business worldwide by skimping on content and coverage.”
Perhaps that’s true, but if it isn’t, Bloomberg is probably pretty happy right now.