• New York Observer, Thursday, November 13, 2008 9:15 AM

With national interest in financial news at a fever pitch, CNBC has been posting its highest ratings in its 19-year history. But that doesn't mean the network can dodge the cutbacks that are hitting the rest of the media. Bosses at CNBC are reportedly planning to scale back budgets up to 10%.

Until now CNBC has largely avoided the machete. Last year, it was exempted from cuts, thanks to the nascent competition from the new Fox Business Network.

Over the past year, CNBC has enjoyed steady ratings dominance over Fox Business. Ironically, the downside of that success is that CNBC executives are no longer worried that cuts will give Fox an edge. "It's only logical that after cut after cut at NBC News and MSNBC, CNBC would eventually have to come to the table," says one TV insider.

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