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CNBC Cancels World Business After Reports Producers Took Payment For Coverage

» 22 comments

According to a report in POLITICO, CNBC has ended its weekend international show World Business, after a blog claimed the show’s independent producers, FBC Media, had a contract designed to boost the image of Malaysian politicians. FBC, a London-based production company, reportedly produced “puff pieces” as a part of the contract. “In light of serious questions raised last week, CNBC immediately initiated an examination of FBC and its business practices and has withdrawn the program World Business indefinitely,” Brian Steel, senior vice president of media relations at CNBC, told POLITICO.

World Business did not air on CNBC in the U.S., but was seen in Europe and Asia:

FBC Media, short for Fact Based Communications, was formed in 1998 as a “European-based media and entertainment group specialising in television format creation, production and distribution,” according to a cached version of its website. Its active website has apparently been taken down.

The company’s executive chairman is Alan Friedman, an American journalist who interned in the Carter White House and worked as a columnist for the Financial Times and Wall Street Journal. Last year, he wrote for The Atlantic as a special correspondent from Davos.

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  • Moderate

    produced “puff pieces” as a part of the contract.

    Big deal all the networks run puff pieces about companies just before that company starts advertising on their network. It is obviously common practice.

  • http://pulse.yahoo.com/_M2M6WNMW4ZG2SS74LYYE3QDOBA Web

    Busted!! now can we do the same here in the U.S. to the liberal terrorist media?

  • Moderate

    Next we will be hearing how disk jockeys get free gasoline just by casually mentioning the name of the place where he buys gasoline.

  • Dflojak

    i am sure the msm in america will be running coverage and headlines about nbc like they did against Murdoch and the phone tapping incident. Right?

  • Anonymous

    Well, it wasn’t as bad as that scandal ay the WSJ, where the author of the  ”Heard on The Street” column turned out to be making negative or positive comments about stocks while taking a position in the stocks that would benefit him!

  • Moderate

    It makes a person wonder how many times the “60 Minute” crew shorted a company’s stock, just before they ran a “hit piece” on that company.

  • Anonymous

    I’m sure that happens all the time. Think how many executives tell their friends about what their company will report either up or to the downside of expectations and have their friends then place purchases appropriately, sharing the gain.

  • Anonymous

    If the execs at NBC were really concerned about bias and corruption of journalistic ethics, they should take a peak at Phil Griffin’s business plan.  

  • realheadline

    Really? Now they should investigate the fascist relationship between MSNBC news and the Obama administration. Wasn’t GE taking taxpayer subsidies while cheerleading Obama? Inquiring minds want to know. Inappropriate…Yes.   Criminal….????

  • Tedderman

    That’s odd, Rupert Murdoch requires payment form sources in order to run “puff pieces” at Fox news.

  • The Real Royal Emperor

    You’ve been completely Foxified haven’t you? No news is good news. I expect and am pleased to see CNBC uphold higher standards. 

  • The Real Royal Emperor

    I’m not sure I understand your whine. CNBC took a proactive approach which seems to have cured the problem. Murdoch was wholly reactive and may well still be continuing his criminal enterprise.

  • The Real Royal Emperor

    Again, what are you whining about. CNBC (related to NBC and MSNBC) was wholly proactive here. Just because you disagree with programming doesn’t make the programming biased or unethical. Otherwise, each person in America would have to have his or her own network.

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    “ FBC Media, had a contract designed to boost the image of Malaysian politicians.” How is this even an issue?  It is hardly any different than the US media contracts with our progressive leadership here.. We have seen the payoffs to GE, now watch for favorable legislation and agency rulings for Comcast in the future.. 

  • http://pulse.yahoo.com/_NWVKX2P2QBPQ6FHQHCHVIC2ALQ Fedup in Florida

    Proactive?  They did not blow the whistle on themselves…  Proactivity only after their hand was found to be inside the cookie jar…

  • Anonymous

    Perhaps CNBC should terminate it’s relationship with NBC News in light of it’s continuous “puff pieces” and outright cheer leading for the Obama administration. 

  • Anonymous

    The programing at MSNBC isn’t biased?   So, it’s just a coincidence that every host and guest in the evening line-up always express the identical liberal opinion on every issue?   Why don’t you run the probability numbers on that one…..

    Your comments just get sillier and sillier all the time.

  • Anonymous

    I applaud CNBC for this measure to insure their credibility and integrity. The entire media industry needs to take note of this and voluntarily clean house of all influences that distort their own news coverage.
    It is disgraceful that so many news sources are completely untrustworthy, especially with regards to pushing agendas and character assassinations. It’s about winning arguments at any cost to them rather than presenting the public with the full context of the news. It is shamefully disrespectful.
    They insult the public by assuming they are too stupid to know the difference and will buy whatever they are selling. It’s a lousy way to treat your customers.
    The biggest offender in this is quite obviously MSNBC and the entire NBC organization, but they are clearly not alone.

  • Hagen619dj

    Oh ya, that’s the way to remark.  Foxified…!  At least they don’t have the trouble other channels have. Goes to show….another dishonest one bits the dust.  Now lets hear all those great educated comments.

  • Hagen619dj

    Have you ever noticed that all those 60 minute shows, 48 hours and primetime…all they show you is murder stories. Is that was this country is about anymore?  Why do they think we all want to see and hear that crap?   We’ve got mega cop, detective shows and forensic (must see the cut and mutilated bodies you know) because that is what people want to see.   What people? Blood, guts and gore are not my idea of good television broadcasting. Want to know why people are watching the news instead??????

  • Jadd

    I didn’t realize Rupert Murdock owned them. Huh.

  • http://www.facebook.com/people/Bill-Adkins/1585417987 Bill Adkins

    The investigation of CNBC should begin — first on the list, Rick Santelli, the Tea Party promoter. 

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