General Electric Co.’s CNBC cable network pulled a widely-advertised paid program from its weekend schedule because of concerns that the show improperly promoted stocks of three featured companies.
But the producers of the show defended the program and denied they were covertly trying to tout the stocks of the companies involved.
They said they were hoping CNBC would decide to carry the show at some later date or would find another network to carry it.
CNBC spokesman Brian Lewis confirmed that the network had decided against carrying the program, “Emerging Public Companies,” on its schedule after reviewing the program. Its first show was to have run Saturday.
The show, produced by the Hastings Group of Fort Lauderdale, Fla., included segments on three companies traded in the over-the-counter market — First Pacific Networks Inc., Sciclone Pharmaceuticals Inc. and Embrex Inc. — which had paid a fee to be included in the show.