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Asia Business News

From Wikipedia, the free encyclopedia
Asia Business News
CountrySingapore
Broadcast areaAsia
HeadquartersAnson Road, Singapore[1]
Ownership
OwnerDow Jones & Company
Tele-Communications Inc.
History
Launched1 November 1993; 31 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 through 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

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Asia Business News (ABN) was announced in February 1993 as a pan-Asian business news network focusing on markets in Hong Kong, Indonesia, the Philippines, Taiwan, and Thailand. The network was to be led by Dow Jones & Company and Tele-Communications Inc. (TCI), with Television New Zealand (TVNZ) holding a 36% stake and managing operations in Singapore. The Hong Kong–based Business News Network, Inc., and Singapore International Media Ventures also held 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 because 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, the Hinduja Group, and TV18.[5][6]

Starting on 1 September 1994, Singapore Cable Vision's NewsVision channel began carrying an hour of ABN programming daily from 7 to 8 p.m. every weeknight.[7]

In September 1995, TVNZ sold its stake in ABN to Dow Jones and TCI.[8] That same year, the channel faced competition from the Hong Kong–based CNBC Asia. Prior to CNBC Asia's launch, ABN CEO Paul France questioned whether the market could sustain two business news networks, contrasting ABN with CNBC by stating that ABN was not "an Asian branch of an American company," but rather "designed in Asia, for Asia."[9] However, as early as November 1995, reports indicated that Dow Jones and CNBC were considering a merger of their international business networks in Asia and Europe.[10] Discussions about a merger were renewed in November 1997, as both Dow Jones and CNBC were experiencing financial losses from their international ventures.[11][12]

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.[13][14] Additionally, Dow Jones would enter into editorial partnerships for CNBC programming in the United States.[15][16] CNBC Asia would relocate from Hong Kong to ABN's Singapore studios, resulting in the loss of 150 jobs.[14] The merger was completed on 2 February 1998.[17][18]

Programmes

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Anchors and presenters

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Correspondents

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

References

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  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. ^ "Cable TV to carry Asia Business News soon". The Business Times (retrieved from NLB). 23 August 1994. Retrieved 25 July 2024.
  8. ^ "STEADY COURSE". Variety. 1995-10-09. Retrieved 2024-04-17.
  9. ^ Groves, Don (1995-02-20). "Two To Tangle Over Territory". Variety. Retrieved 2024-04-17.
  10. ^ "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.
  11. ^ Archives, L. A. Times (1997-12-10). "Dow Jones and NBC to Merge Foreign Business TV Units". Los Angeles Times. Retrieved 2024-04-17.
  12. ^ Sullivan, Maureen (1997-11-05). "Asia's CNBC, ABN in talks". Variety. Retrieved 2024-04-17.
  13. ^ Archives, L. A. Times (1997-12-10). "Dow Jones and NBC to Merge Foreign Business TV Units". Los Angeles Times. Retrieved 2024-04-17.
  14. ^ a b "150 jobs to go as CNBC shuts headquarters". South China Morning Post. 1997-12-10. Retrieved 2024-04-17.
  15. ^ Spurgeon, Devon (December 10, 1997). "Dow Jones Teams Up With NBC". The Washington Post. Archived from the original on 4 Jan 2024.
  16. ^ Jones, Tim (December 10, 1997). "ONE ALLIANCE, 2 BIG NAMES". Chicago Tribune.
  17. ^ Sullivan, Maureen (1998-03-03). "CNBC Asia enlists U.S. feed". Variety. Retrieved 2024-04-17.
  18. ^ "TV18 lays off staff as part of worldwide merger of NBC and Dow Jones". India Today. 9 February 1998. Retrieved 2024-04-17.
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