CNBC LLC, commonly referred to as CNBC, is an American basic cable and satellite business news television channel that is owned by the NBCUniversal News Group, a unit of the NBCUniversal Television Group division of NBCUniversal. The network originated as the Consumer News and Business Channel, until the name was abbreviated in 1991. Today, its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers around the world. In 2007, the network was ranked as the 19th most valuable cable channel in the United States, worth roughly $4 billion. It is headquartered in Englewood Cliffs, New Jersey. As of August 2013, CNBC is available to approximately 96,242,000 pay television households (84.27% of households with television) in the United States.