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CNBC’s policy on restricting interviews has just come to light recently, and the network takes it very seriously — so seriously in fact, that it even holds U.S. regulators to it.
The policy is very simple. The network does not allow guests who have been on Bloomberg or Fox Business to appear on its shows on the same day.
You might think that CNBC would at least give way a little to the Federal Communications Commission, which is the agency that regulates the television industry. However, the network doesn’t show favoritism to anyone, even regulators of its own industry. At least it keeps things fair for all guests.
Politico reported that in May 2012, FCC chairman Julius Genachowski was booked for an appearance on CNBC and one of its rivals. When CNBC heard about the other booking, the network called the FCC and said if the chairman appeared on the other network, he would not be allowed to appear on CNBC.
CNBC has built a name for itself as a leader in financial news, and that image is apparently so strong that Genachowski actually cancelled the interview with the other network in order to keep his appearance on CNBC.
The news business as a whole is highly competitive, but as the world of digital media has grown; suddenly, consumers have access to numerous media outlets.
Today the most important thing has become more than just getting the story out, although what news person could resist being the first one with a story? If you have a heart for the industry, you just can’t.
CNBC obviously has the clout to be able to tell its guests not to appear on rival networks, so why shouldn’t it use that clout?