On today’s episode of “Daily Variety” podcast, CNBC president KC Sullivan discusses the channel’s evolution following the Versant Media spinoff. The preeminent financial news network is transforming from a business rooted in linear cable to multiplatform digital. “We’re very much on offense,” Sullivan told Variety during last week’s Cannes Lions festival.
Sullivan, who has logged 17 years with CNBC and has held the top job since 2022, addressed the big issue that was on everyone’s lips at the festival: AI and the business disruption that is affecting every sector. For CNBC, that’s a big opportunity and also a challenge.
“Disruption is everywhere. And I think it’s an opportunity from an editorial coverage perspective. The amount of news flow is massive, whether it’s the intersection between Washington and Wall Street and business or AI disruption that’s disrupting all industries. The amount of content is massive, but also for our business and our ability to differentiate the content we have,” Sullivan says. “There’s a massive amount of commoditized content that’s out there. But I think for trusted brands that are delivering differentiated content, which is what we think about every day, that’s more and more important. We’re focusing on making sure we get our content to our audience how and where they want that. Because in years past there were only a few places where [CNBC] content was consumed. Now there’s been huge fragmentation of consumption. So you need to make sure that the content is getting delivered where and how that the audience wants it.”
CNBC was part of the Versant Media spinoff from NBCUniversal that took effect earlier this year. The transition has been energizing for the organization, Sullivan says.
“It’s a totally different game for us. We’re very much on the offense. We’re hiring. We’re looking at partnerships in a different way. We’re looking at M&A in a different way,” Sullivan says. “We have a very flat structure. So decision-making happens quickly and with a lot of urgency, and that’s been a really fun place to be in an industry that’s being highly disrupted. There are other media companies that are tightening the belt every quarter. We very much are trying to think about what’s the next big win? What’s the transformational win that we can do and we have the resources to do it. We have the management and board support to do it. Culturally, it’s been an injection of excitement for the organization.”
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