News Corp to launch business channel in October

Forbes ^ | 7/12/07

[bruinbirdman]

NEW YORK (Thomson Financial) - Rupert Murdoch's News Corp will launch a new business channel for US cable subscribers on October 15, in a direct challenge to market leader CNBC, operated by General Electric Co's NBC Universal.

In a statement, News Corp said the Fox Business Network will be headed by Neil Cavuto, a Fox News senior vice president.

The financial channel will be available to some 30 mln subscribers under contract after securing distribution agreements with major cable operators in top markets around the US.

The new channel will form another element in Murdoch's media empire, which includes the Fox television and film studios, and British Sky Broadcasting Group in the UK.

The company's Fox News channel has in recent years overtaken CNN as the leading 24-hour news channel.

In the US market, another business channel is operated by Bloomberg. CNN, a division of Time Warner Inc, shut its financial channel called CNNfn in 2004 after it failed to make headway against CNBC.

News Corp is engaged in a takeover battle for Dow Jones & Co Inc, publisher of the Wall Street Journal and other business media.

[bruinbirdman]

Ailes said a while ago that if he were running CNBC it would be making money in two months.

I can think of a lot of things I want to see on a financial channel that are not currently available.

[ken5050]

We need nominees for Fox’s “Money Honey”

[gcruse]

“The company’s Fox News channel has in recent years overtaken CNN as the leading 24-hour news channel.’

Yet in the new press room, the White House seats the FNC correspondent in the second row, behind Helen the Hutt, while the CNN WH correspondent sits in the front row.

If I could rescind my votes for Bush in 2000 and 2004, I would.

[shove_it]

I like Cavuto. He’s a business entertainer, a lightweight in econ and averse to the “arcane” (in depth, intelligent) aspects of business. To compete with CNBC, Murdoch will have to recruit the heavy hitters from CNBC including Kudlow, Cramer, Liesman, Santelli and Gasparino. As for the ‘money honeys’, Erin Burnett, Maria Bartiromo and Liz Claman are deliciously sharp. Acquiring DJ is absolutely mandatory in order to break the deal CNBC has with them. Additional features will be needed to compete which I am not bright enough to describe at this time.

[shove_it]

“I can think of a lot of things I want to see on a financial channel that are not currently available.”

What are your thoughts?

[bruinbirdman]

"What are your thoughts?"

We can start with fixed income. Brokers hate them, no commissions.

Education. Bob Brinker has had a successful radio program for years because he teaches as he preaches.

There's more. What do you think, other than personalities, which I think will be no problem?

Fox has quite a lineup on its weekend financial format. They will have to tone down the chicken coop atmosphere.

In the near future, Rush will no doubt pass on some inside poop

yitbos

[shove_it]

I trade stocks all day long with CNBC on in the background. The panel discussions on all financial shows I have seen annoy the snot out of me with each personality talking over the others, this is especially true on the Fox shows. Ground-rules are in order, repeat offenders shouldn’t get invited back. I’d like to see more features directed toward investment strategies for little fish retail investors like myself with follow-up/tracking of results of those strategies. CNBC is going to be tough to top - CNNfn couldn’t do it and cratered. I’m glad to see Fox getting into the mix but if Cavuto is going to head it up, I don’t have much hope of it being anything more than financial infotainment or CNBC lite based on Fox’s present format. Cavuto states repeatedly that CNBC is too “arcane”. That sounds condescending to me - I understand most of the technical concepts discussed by experts on CNBC.

Well, that rambled on for quite a while, hope I didn’t bore you silly.

[VOA]

The financial channel will be available to some 30 mln subscribers under
contract after securing distribution agreements with major cable
operators in top markets around the US.

I shall be informing my cable provider that it's time to add
FOX Business Network to the basic cable service.
Hopefully, with enough pressure, they'll do it. Even if it forces
them to drop one of the CRAPPY channels they now carry.

[bruinbirdman]

"Hopefully, with enough pressure, they'll do it. Even if it forces them to drop one of the CRAPPY channels they now carry."

Does anyone remember the cable/Fox wars when subscribers screamed for years to get Fox on their systems?

yitbos

[george76]

nominees for Fox’s “Money Honey”

[syriacus]

I hope they woo Kudlow away from CNBC.

[syriacus]

I don’t have much hope of it being anything more than financial infotainment or CNBC lite... I understand most of the technical concepts discussed by experts on CNBC.

I think Fox needs a business channel to make better use of their business correspondents. They are currently given too little air time, which results in their resorting to sound bites.

[shove_it]

Y’all dredged up an old one here. Re: my posts #4 & 7 ... That’s my story and I’m stickin' to it.

[george76]

Hopefully FBN will re-discover John Bollinger, Phil Flynn, etc. and allow them to finish an idea without lots of cross talking...

[Texas Songwriter]

I have not seen Eric Bollin on CNBC recently on Fast Money. I saw him 3 times on one of the early Saturday morning shows. I wonder if Ailes has been able to hire him?

[Texas Songwriter]

I have not seen Eric Bollin on CNBC recently on Fast Money. I saw him 3 times on one of the early Saturday morning shows. I wonder if Ailes has been able to hire him?

[Cedar]

I agree with you on the "talking over" comment. Seems a network would understand that only frustrates the listener and tends to make one want to change the channel.

I enjoy hearing the various opinions but please, networks, tell your people to quit interrupting each other.

[syriacus]

Re: my posts #4 & 7 ... That’s my story and I’m stickin' to it.

Good for you. I love the exchange of ideas here on FR. I've been convinced to change my mind by some posters.