Today is Martin Luther King Day and the US Markets are closed. However the world markets aren’t and they’ve been reeling from fears over the U.S. economy. Because of the holiday, CNBC U.S. was running tape today. Even Bloomberg went to tape after 11 am ET. However FBN has been live covering the international plunge all day.
Yes, it’s a U.S. holiday and U.S. markets are closed. Also CNBC World has been live covering the story (if you have CNBC World that is, and not many do) and CNBC Asia will be streamed on CNBC.com later today. But CNBC U.S. will now end up looking like it was caught napping today compared to its upstart competition, even though the potential audience for this story would have been paltry. Even though from a profit/loss standpoint it doesn’t make sense to be live today for CNBC with the U.S Markets closed, from a perception standpoint, it looks bad to be dark when a story like this breaks. And I would expect FBN to milk this for all it’s worth.
On the other hand if nothing had happened internationally today, nobody would be questioning CNBC being dark. But again, there was the CNBC World option. CNN will turn over to CNNI overnight if there’s breaking news so I don’t understand why that’s not an option for CNBC.
Update: Silicon Alley Insider’s Henry Blodget opines…