Is CNBC For Sale?

09-28-2009 • Zero Hedge

Perhaps this is the moment for CNBC to start being an objective TV station once again. After all, that is the only way it can hope to regain its floundering viewership. Yet, while it is caught in the Catch 22 of being a subsidiary of one of the most financially troubled conglomerates, the likelihood that it will promote objectivity and diligent reporting is next to negligible: GE has nothing to gain from CNBC spreading the truth about the domestic economy without 10 shades of rosiness. Thus CNBC is caught in a toxic spiral, whereby its value drops every single day it remains a GE sub. And Jeff Immelt is likely very much aware of this phenomenon. Which is why readers should not be too surprised if in the next several weeks or months Bob Pisani uses his "victory for the bulls" catchphrase a mere 10 times per day or less, as it may very well be time for a strategic shift in orientation of CNBC, and quite possibly, an outright sale.