David Bauder of the Associated Press takes a look Wednesday at the business news networks coverage of the current economic crisis and whether CNBC and Fox Business Network have become too much of the story.
Bauder writes, “CNBC, which says it is running an investor-driven network rather than a general business news channel, has consciously increased the number of analysts it has on the air. It put out a general call late last week for CEOs to contact the network and offer their perspectives on what’s going on.
“Ritholz said he’d find it more valuable for a network to bring on someone particularly smart, like wealthy investor Warren Buffett or former U.S. Federal Reserve Chairman Paul Volcker, and have him talk for an hour.
“His company has turned the office TVs off, finding they were creating a distraction.
“David Kotok, chairman and chief investment officer of Cumberland Advisors, said he understands a network’s first priority is to win viewers. He has been one of the featured people on CNBC’s multiple boxes of talking heads, and said he doesn’t bother trying to talk over people in that situation.”
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