CNBC to close Hong Kong operations, scrap international shows in major overhaul
CNBC spokesman says programming from Hong Kong ended on Wednesday and ‘small number of employees’ had been affected by the closure
US business television network CNBC is closing its Hong Kong office and pulling the plug on several flagship international daily shows as part of a major operational overhaul across Asia and Europe.
The decision was communicated to staff on Wednesday in an internal memo from the company’s executive management.
According to the memo seen by the South China Morning Post, the broadcaster’s management said it made “a number of very difficult decisions” after evaluating its international programming, commercial viability, and resource deployment over several months.
“As our production needs in Asia evolve, we have made the difficult choice to close our Hong Kong bureau,” the memo read, adding that London, Singapore, Beijing and Abu Dhabi would remain as key production hubs providing studio, editorial and technical capabilities.