Here is a comprehensive summary of the Wikipedia article on CNBC:

CNBC is a prominent American business news channel owned by Versant, broadcasting live market analysis and financial programming during the business day, with documentaries and reality shows filling the remaining hours. Its roots trace back to the Satellite Program Network in 1979, but it was famously relaunched as CNBC on April 17, 1989, under NBC's guidance, with Neil Cavuto anchoring the first broadcast. The network struggled initially with cable distribution, but its fortunes changed dramatically in 1991 when it purchased its bankrupt rival, the Financial News Network (FNN), for $154.3 million, acquiring exclusive access to markets worldwide and becoming NBC's fully owned property. Under president Roger Ailes from 1993 to 1996, revenue skyrocketed from $43 million to $110 million, leading to the global expansion with launches of CNBC Asia and CNBC Europe. Today, the channel operates its financial website, CNBC.com, and while it holds headquarters in Englewood Cliffs, New Jersey, it successfully competed with Fox Business in 2023, leading in total day and primetime viewership.