Asia Business News

Television channel
Asia Business News
CountrySingapore
Broadcast areaAsia
HeadquartersAnson Road, Singapore[1]
Ownership
OwnerDow Jones & Company
Tele-Communications Inc.
History
Launched1 November 1993; 30 years ago (1993-11-01)
Closed31 January 1998; 26 years ago (1998-01-31)
Replaced byCNBC Asia

Asia Business News (ABN) was a Singapore-based pan-Asian business news channel. Launched on 1 November 1993, it was owned by a partnership between Dow Jones & Company, Tele-Communications Inc., Television New Zealand, and other local investors.

In December 1997, ABN announced that it would merge with its recently-launched competitor, CNBC Asia.

History

Asia Business News (ABN) was announced in February 1993, as a pan-Asian business news network that would focus on coverage of markets in Hong Kong, Indonesia, the Philippines, Taiwan, and Thailand. The network would be led by Dow Jones & Company and Tele-Communications Inc. (TCI), with Television New Zealand (TVNZ) holding a 36% stake and handling operations for the network in Singapore. The Hong Kong-based Business News Network, Inc., and Singapore International Media Ventures would also hold minority stakes.[2] Its managing editor was Christopher Graves.[3]

ABN launched on 1 November 1993; despite being broadcast from Singapore, the channel's availability in the city-state was limited as private ownership of satellite dishes was still illegal.[4][1] Its studios were located at International Plaza, using floors that had previously been used as a car park.[3] An Indian branch—ABNi—was formed as a joint venture between ABN, Hinduja Group, and TV18.[5][6]

In September 1995, TVNZ sold its stake in ABN to Dow Jones and TCI.[7] The same year, the channel gained a competitor in the Hong Kong-based CNBC Asia; prior to its launch, ABN CEO Paul France questioned whether the market could sustain two business news networks, contrasting CNBC by stating that ABN was not "an Asian branch of an American company", and was "designed in Asia, for Asia".[8] However, as early as November 1995, reports indicated that Dow Jones and CNBC were contemplating a merger of their international business networks in Asia and Europe.[9] Reports of a merger were renewed in November 1997, as both Dow Jones and CNBC were facing financial losses on their international ventures.[10][11]

In December 1997, Dow Jones announced a strategic partnership with CNBC, under which they would merge their networks in Asia and Europe under the CNBC brand,[12][13] and Dow Jones would enter into editorial partnerships for CNBC programming in the United States.[14][15] CNBC Asia would re-locate from Hong Kong to ABN's Singapore studios, resulting in the loss of 150 jobs.[13] The merger was completed on 2 February 1998.[16][17]

Programmes

  • Breakfast Briefing
  • Asian Wall Street Journal on Air
  • Trading Day
  • Asia Market Digest
  • Storyboard
  • Far Eastern Economic Review on Air
  • Money Talk
  • dot.com
  • Corporate Raiders

Anchors/presenters

Correspondents

  • Keiko Bang
  • Lisa Barron
  • Stuart Pallister
  • Jim Sciutto
  • Chris Slaughter

References

  1. ^ a b "SATELLITE PLAYERS AND THEIR SET-UPS". 14 January 1996. Retrieved 23 December 2023.
  2. ^ Archives, L. A. Times (1993-02-24). "MEDIA & ENTERTAINMENT". Los Angeles Times. Retrieved 2024-04-17.
  3. ^ a b "S'pore: The new media centre". The Straits Times. 14 January 1996. Retrieved 23 December 2023.
  4. ^ Content, Contributed (1993-11-07). "TV PROGRAM OFFERS ASIAN FINANCIAL NEWS". Chicago Tribune. Retrieved 2024-04-17.
  5. ^ Kannan, Indira (2016-09-19). "How Raghav Bahl won CNBC Asia from the brink of defeat (and saved his young company)". Scroll.in. Retrieved 2024-04-17.
  6. ^ Sharma, Rahul (2009-07-13). "Channel war | Making sense of business news". mint. Retrieved 2024-04-17.
  7. ^ "STEADY COURSE". Variety. 1995-10-09. Retrieved 2024-04-17.
  8. ^ Groves, Don (1995-02-20). "Two To Tangle Over Territory". Variety. Retrieved 2024-04-17.
  9. ^ "Talks Seen on CNBC-Dow Jones Linkup Abroad". The New York Times. 1995-11-04. Archived from the original on 2015-05-26. Retrieved 2024-04-17.
  10. ^ Archives, L. A. Times (1997-12-10). "Dow Jones and NBC to Merge Foreign Business TV Units". Los Angeles Times. Retrieved 2024-04-17.
  11. ^ Sullivan, Maureen (1997-11-05). "Asia's CNBC, ABN in talks". Variety. Retrieved 2024-04-17.
  12. ^ Archives, L. A. Times (1997-12-10). "Dow Jones and NBC to Merge Foreign Business TV Units". Los Angeles Times. Retrieved 2024-04-17.
  13. ^ a b "150 jobs to go as CNBC shuts headquarters". South China Morning Post. 1997-12-10. Retrieved 2024-04-17.
  14. ^ Spurgeon, Devon (December 10, 1997). "Dow Jones Teams Up With NBC". The Washington Post. Archived from the original on 4 Jan 2024.
  15. ^ Jones, Tim (December 10, 1997). "ONE ALLIANCE, 2 BIG NAMES". Chicago Tribune.
  16. ^ Sullivan, Maureen (1998-03-03). "CNBC Asia enlists U.S. feed". Variety. Retrieved 2024-04-17.
  17. ^ "TV18 lays off staff as part of worldwide merger of NBC and Dow Jones". India Today. Retrieved 2024-04-17.