TVNewser has learned CNBC president Mark Hoffman sent out a memo this morning announcing that CNBC Europe and CNBC Asia have merged to form CNBC International.
Mick Buckley, who headed CNBC Europe, is leaving the company after eight years. Satpal Brainch, President and Managing Director, CNBC Asia Pacific, will run CNBC International.
Last month the New York Post reported CNBC Europe was prepared to make cuts after not making budget. “Wide-ranging consequences,” would result an insider told the Post.
Additionally, British newspaper The Independent reported last month that CNBC Europe allowed production company FBC to produce its “World Business” show for more than six years. That was until this summer when the paper revealed that FBC “was being paid millions of pounds a year by Malaysia to promote its national interest.”
> Update: Memo after the jump. “We will achieve better overall coordination with a single P&L focused on one set of common goals and objectives,” writes Hoffman.