Business news channel CNBC will keep its name after it and other operations are spun off from parent Comcast, reports Oliver Darcy in his Status newsletter.
Darcy reports, “With regard to CNBC, the powers at be have rendered a decision. I’m told by a person with direct knowledge of the matter that CNBC will be permitted to keep its name when SpinCo gets off the ground next year.”
CNBC was founded in April 1989 as the Consumer News and Business Channel, a joint venture between NBC and Cablevision. Following its 1991 bankruptcy, NBC acquired the competing Financial News Network and merged it into CNBC, and acquired Cablevision’s stake in CNBC to give it full ownership.
NBCUniversal announced last month its intent to spin off most of its cable networks, including CNBC, as a new publicly-traded company controlled by Comcast shareholders.
