A New York Post item reports that business news network CNBC is under pressure by parent company Comcast to rein in costs.
The item reads, “Comcast is putting the pressure on CNBC President Mark Hoffman to make cuts at the financial news network. CNBC Europe recently ‘didn’t meet its budget for the first time in forever,’ a source said, triggering, ‘wide-ranging consequences.’
“Some remotes for CNBC in the US have been canceled. ‘Squawk on the Street’ was slated to go on a road trip but it’s been scrapped. And correspondent Michelle Caruso Cabrera had her wings clipped because she spent too much covering the Greek crisis and has been told to travel less.
A CNBC rep said, ‘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.'”
