CNBC Europe, the 24-hour cable and digital business news channel, will expand its live capacity, increase studio locations and develop more local services during the first quarter of 2001. It will also take on about 20 journalists, bringing the editorial total to around 100.
Greater activity on stock exchanges, as well as an increase in online trading, has prompted the move. It foreshadows an announcement about specific programming developments, which is expected at the beginning of February.
These are some of the 'serious changes' being driven by Rick Cotton, who took over as president and managing director on 8 January. 'The development of the audience for a service like CNBC is exploding. There are 44 million shareholders in Europe at the present time,' Cotton said.
These range from people who have got into share trading as a means of augmenting pensions, to individuals with significant assets to invest.
'The context here is the evolution of an investor-oriented service with information that keeps them a step ahead,' he said.
CNBC is currently hiring journalists and anchors to bolster the team. It will also report live from temporary studios at eight business events during the year, starting at the World Economic Forum's annual gathering in Davos, Switzerland, this weekend.