Stocks for Sale at CNBC
By Multi Channel News Staff -- Multichannel News, 1/13/2004 11:11:00 AM
CNBC Monday set a January 2005 deadline for its news staff and managers to sell their stocks or put them in a blind trust.
Staff outside of the newsroom can continue to hold stocks that they already own, but they are barred from buying more until they leave the company, the New York Post reported.
"CNBC's reputation for integrity is paramount to what we do and is key to our viewers," the network said in a prepared statement. "We continually work to set the highest possible standards in everything we do, which is our role as the industry leader."
The network said the policy has been on the drawing board for more than one year and was unrelated to criticism it received in July, when reporter Maria Bartiromo revealed before an interview with Citigroup Inc. chairman Sanford Weill that she owned 1,000 shares of the company’s stock, Reuters reported.
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