CNBC Does Damage Control After Stewart-Cramer Showdown

CNBC and sister cabler MSNBC promoted Jim Cramer’s appearance on “The Daily Show” last week, but that was before he was soundly trounced by Jon Stewart. After the fact, CNBC and its affiliate networks haven’t exactly been playing highlight clips in heavy rotation, and some industry types believe that damage may have been done to the financial network’s reputation.

Los Angeles Times:

But the “Daily Show” interview drew cringes inside NBC, which relies heavily on CNBC for not only the revenue it generates but also for its business journalism. CNBC anchor Erin Burnett is a frequent guest on “Meet the Press” and “Today,” and “NBC Nightly News” makes regular use of CNBC correspondents.

Network insiders admitted privately that Cramer’s appearance on “The Daily Show” was a misfire but said they had been taken aback by the vehemence of Stewart’s attacks.

On Friday, NBC did its best to avoid further feeding the story. MSNBC, CNBC’s sister cable channel, which had hyped the encounter in advance, largely avoided the topic. CNBC officials declined to comment on the episode and instead released a broad statement defending the network’s coverage.

“Recognized as the worldwide leader in business news, CNBC produces more than 150 hours of live television a week that includes more than 850 interviews in the service of exposing all sides of every critical financial and economic issue,” said spokesman Brian Steel. “We are proud of our record and remain committed to delivering coverage in real-time during this extraordinary story and beyond.”

John Rash, senior vice president and director of media analysis for the ad firm Campbell Mithun, said the network would probably not suffer a drop in audience as a result of Stewart’s denunciations.

“It’s unlikely core and committed CNBC viewers will stray because of the events this week,” Rash said. “It’s more of a hit to their reputation as opposed to their rating.”

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