The network broadcasts business news and analysis programming during the morning, daytime trading day, and early-evening hours, while off-peak hours (such as weekday prime time and weekends) are filled by business-related documentaries and reality television programming, as well as occasional NBC Sports presentations.CNBC was originally founded in April 1989 as the Consumer News and Business Channel, a joint venture between NBC and Cablevision.After initially signing a letter of intent to acquire Tempo,[4] NBC opted for a deal to lease the channel's transponder in June 1988.[8][9][10] CNBC had considerable difficulty getting cable carriage at first, as many providers were skeptical of placing it alongside the longer-established Financial News Network.After a bidding war with a Dow Jones & Company–Westinghouse Broadcasting consortium, CNBC was awarded FNN by a bankruptcy judge for $154.3 million on May 21, 1991, and merged the two operations.[16] Roger Ailes was hired as the president of CNBC in August 1993,[17][18] tasked by NBC CEO Bob Wright with turning around the struggling network.[32] In October 2003, CNBC moved its world headquarters from Fort Lee (which became the new home of Telemundo flagship station WNJU) to a new digital video production studio in Englewood Cliffs, New Jersey.[43] In January 2008, CNBC formed a content partnership with The New York Times, which was seen as an attempt by both parties to take on increased competition from News Corporation.[53][54][55][56] Also that year, CNBC took over production of the popular public television program Nightly Business Report from NBR Worldwide, a subsidiary of Atalaya Global Management.[69] In January 2022, the subscription service launched as the "CNBC Investing Club with Jim Cramer", which includes commentaries, stock picks, and monthly online meetings.Under Sullivan, the network began to refocus its programming to broaden appeal to its core business audience, including a promise of more business-related documentaries in primetime,[72][73] and cancelling the low-rated The News with Shepard Smith in November 2022 in favor of the new financial news program Last Call with Brian Sullivan, which premiered in January 2023,[74][75] and ran until July 18, 2024.[75] In March 2024, CNBC announced plans to add its personal finance brand “Make It” to weekend programming.[83][84][85] On November 20, 2024, NBCUniversal announced its intent to spin off most of its cable networks, including CNBC, as a new publicly-traded company controlled by Comcast shareholders.[91] CNBC has been criticized for allegedly amplifying bull and bear markets, particularly in the run-up to the dot-com bubble and the subprime mortgage crisis a decade later.[92] Jon Stewart on Comedy Central's The Daily Show has been a vocal critic of CNBC and some of its personalities, beginning after comments were made by Rick Santelli.[98][99] Regarding CNBC's Mad Money host Jim Cramer, a 2007 article in Barron's stated that "his picks haven't beaten the market.Mainly, this has occurred on weekends, especially the afternoon, and sports coverage is purposefully kept away from any part of the American trading day on weekdays.[122] In 2001, CNBC began a four-year deal to televise events from the Senior PGA Tour, either live or tape delayed, with early-round coverage broadcast on cable feeds of Pax.[131] In 2024, due to inclement weather causing the USA Today 301 to go under a red flag, CNBC aired the Firestone Grand Prix of Monterrey.Also, due to coverage of the attempted assassination of President Donald Trump, CNBC aired the first Iowa Speedway race of the doubleheader weekend.Beginning in the 2011–12 season, CNBC showed coverage of the National Hockey League's Stanley Cup playoffs, produced as part of the NHL on NBC package.The frequent delegation of curling coverage to CNBC during the 2010 Winter Olympics helped the sport gain a cult following among the business community.CNBC focused on Boxing during the prime time 5-8PM ET slot, but also carried softball, tennis, weightlifting, wrestling and badminton during the overnight hours.Coverage focused on diving, beach volleyball, skateboarding, rowing, canoeing, archery, water polo and rugby.[150] CNBC has participated in NBC's Championship Sunday effort to broadcast all matches on the final day of the Premier League soccer season.