CNBC, fresh off the biggest ratings in its history due to the financial fallout, is being rewarded by parent company NBC Universal with a 10% overall budget cut, the New York Observer reports. Since CNBC has dominated competitive upstart Fox Business Network, many see the cuts as not surprising. “It’s only logical that after the cut at NBC News and MSNBC that CNBC would eventually have to come to the table,” an unnamed insider tells the Observer.
—Christopher Perez