Cuts coming to CNBC

Marisa Guthrie of Broadcasting & Cable writes Monday about the cuts that are looming at cable network CNBC despite its strong ratings during the economic crisis.

Guthrie writes, “But first quarter 2009 could be a harbinger of tough times to come as financial services companies — CNBC’s bread-and-butter advertisers — are handing out pink slips like Halloween candy.

“According to network president Mark Hoffman, CNBC has continued to book business in the fourth quarter, though it has also taken cancellations. ‘Next year is a little murkier,’ he concedes. ‘We’re in uncharted waters. It’s been called a 100-year storm, and that feels accurate to me.’

“Dire financial forecasts aside, the network plans to capitalize on its current position as must-see-biz-TV. On Dec. 1, CNBC begins rolling out four 30-second promotional spots each week featuring its more than 40 anchors and reporters. The crowning iteration of the ‘I am CNBC’ campaign launched last year, the new spots depict anchors dishing out biographical goodies about themselves. They borrow a page from the American Express ‘My Life. My Card’ commercials that feature Hollywood celebrities such as Robert De Niro, Martin Scorsese and Ellen DeGeneres spinning yarns about life and career, not to mention how their credit card made everything possible.”

Read more here.