CNBC, the favourite financial news channel for day traders and private investors, will launch a second 24 hour news channel in the US.
Called CNBC2, the new channel will launch in 2001 to provide rolling market news and commentary from the US, Europe and Asia.
CNBC executives believe there is a growing appetite among US shareholders to invest in overseas markets and although the station has launched European and Asian versions of its programmes, they are not available to US viewers.
CNBC is owned by NBC , the television network that is part of General Electric. It has agreed distribution deals with cable companies to make the new channel available in 10m homes.
The existing channel can be seen in about 72m homes in North America and a further 78m around the world. Bob Wright, president and chief executive officer of NBC, said plans for the second channel have been around for some time but pointed out that cable capacity is hard to come by.
The launch of the new channel is expected to spark off a flurry of rival launches including a new channel from Fox, the network controlled by Rupert Murdoch's News Corporation.