As CNBC Squawk Box moved into its new midtown Manhattan location, its new neighbor, Fox Business Network, has apparently been the source of several CNBC strategic discussions that were very un-neighborly in tone.
The new Squawk Box set is set on a backdrop that can show competitor Fox Business Network. Having a CNBC studio shot without Fox Business Network signage in the background was said to have been the source of CNBC meetings, according to a New York media insider.
But that’s not all.
CNBC team embarrassed by defeat on Carl Icahn-Twitter story
According to the source, the Squawk Box team was said to be embarrassed that day-one they got beat on the Carl Icahn Twitter story by their former employee Charlie Gasparino and Don Imus today. The Fox Business Network show Imus in the Morning, which is now broadcast within a stone’s throw from the Squawk Box new studio, has been regularly beating Squawk Box in the ratings.
“Quite embarrassing” developments, the media source said. (CNBC did break news this morning as they interviewed Goldman Sachs Chairman Lloyd Blankfein, who appeared not to back down from recent talk discussing the math behind breaking up JPMorgan.)
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CNBC Squawk Box moved their studio to New York City
There also could be a motivation in Squawk Box moving, the media source told ValueWalk. With Fox Business Network studios located on 6th Avenue near Rockefeller Center and CNBC’s Squawk Box studios, it might be easier to pick off Maria Bartiromo’s guests, the source said. “With (Squawk Box) ending 2014 on historic lows, in order to combat the drop in ratings as well as the fear of FBN and the loss of guests to Maria Bartiromo, they’ve picked up shop and moved their studio to New York City.”
The battle over business broadcast news ratings could grow even more intense, as a rivalry boils over in such close proximity to one another. But according to separate sources, there is another media company located in Midtown that both Fox and CNBC should be aware of. With the internet potentially being the significant distribution point for broadcast business news in the near future, creating a new playing field, sources have said that the Wall Street Journal could be looking to ramp up its broadcasting efforts as well and attempt to more seriously enter the fray.
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