General Electric Co. CEO Jeffrey Immelt met Wednesday with employees of subsidiary CNBC, the business news cable network, and told them he was looking forward to the competition with the Fox Business News channel next year, according to a Hollywood Reporter story.
The meeting, Immelt’s first with CNBC employees in more than a year, also was attended by NBC Universal chairman and CEO Bob Wright and NBC Universal Television Group president Jeff Zucker. Neither executive spoke, however.
Reporter Andrew Wallenstein wrote, “Immelt also singled out CNBC for praise, admitting that not long ago the cable channel’s misfortunes had him questioning its prospects.
“‘And I think you’re ready to play from a position of strength versus 18 months ago, which I didn’t really feel that way,’ he said.
“Immelt alluded to News Corp.’s own business channel, expected to launch sometime next year, as a challenge CNBC was now prepared to face.
“‘I think we’re ready for Fox should they decide to come,’ he said. ‘And you have to have the attitude of bring it on … if it happens, it happens.’
“Immelt’s discussion, which involved a Q&A with employees in attendance, was intended as a pep rally for CNBC as it begins to shake off the ratings doldrums of recent years.”
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