Asia Business News (ABN), the 24-hour business channel, will cease to exist from February 2 and will be replaced by CNBC-Asia Business News as part of the global strategic television and Internet alliance between NBC and Dow Jones &Company (50% promoter of ABN). NBC promotes a 24-hour business news channel CNBC and the entertainment channel NBC.
Delhi-based TV-18 is also holding negotiations with CNBC to be the sole franchisee in India of NBC looking after the channels programming from India, marketing and ad sales here. Before the global alliance a GE group company, IGE, used to look after NBC channels marketing and ad sales, while TV-18 had a deal to provide some entertainment-based programmes to the channel.
Singapore-based CNBC sources said yesterday : The ABN from CNBC-ABN channel would be dropped few months down the line after the channels transition period is over.
The Delhi-based software production house was a joint venture partner in ABNi - In dias first 24-hour business news channel launched two years back. At the time of start ABNi was promoted by ABN, TV-18 and the Hindujas. Last year, the Hindujas had pulled out of the deal leaving just two promoters in ABN and TV-18, which held 25 per cent stake in ABNi.
CNBC will also have a dedicated India feed and two of the three existing programmes on ABNi produced by TV-18 would be shifted on CNBC.
The merger of Dow Jones Company and NBC, part of General Electric, in the US have brought together the most recognised business news brands in the world, including The Wall Street Journal, CNBC and Dow Jones.
In Asia, Dow Jones and NBC will merge CNBC Asia and Asia Business News into a new service to be branded CNBC and will be redesignated as a service of NBC and Dow Jones.
