'Shark Tank' Heads to CNBC for Off-Net Run
After trying its hand at entrepreneurial competition with the short-lived "Crowd Rules," the cable network will air repeats of the ABC hit.
Shark Tank will soon be getting additional airings on CNBC.
ABC's sleeper hit, which saw significant ratings growth on Friday nights over its first four seasons, is heading to the fiscally minded cable news network in its first off-net cable deal.
"Shark Tank's motivational stories are wrapped in the fundamentals of business and entrepreneurship," said CNBC president and CEO Mark Hoffman. "The 'Sharks' are self-made mega successes and the contestants seek their money and counsel as they plot their own paths to the American dream. That practical knowledge and aspirational theme is pitch perfect for CNBC at night."
It's little surprise given CNBC's growing efforts in alternative programming, which included a short-lived reality competition from earlier in the year that followed a very similar formula to Shark Tank. Crowd Rules, which pitted three small businesses against one other in an attempt to convince a live crowd to award them a $50,000 prize, was taken off the schedule after just two episodes.
Shark Tank, which recently debuted its fifth season on ABC, starts airing on CNBC in January 2014 -- with an expanded schedule planned for fall.