My understanding, he already has a pretty big staff and Internet news properties that he can easily roll out into a news channel.
Bad for Fox News and conservatives though, because he would decrease the value of Fox News Conservative Audience and therefore shift them farther to the left.
On the contrary, I think Beck is perceived as such a nut that few would watch because of him, and if there were a a true “conservative network” that tilted as far right as MSNBC and the rest tilt to the left, it would be a bonanza for Fox News to show how they are indeed “fair and balanced” and draw even more viewers.
Some may not like it but Fox is driven by business motives, not ideological ones. They recognized that the MSM was alienating over half of the potential audience by imosing a leftist spin on news coverage. The more Fox is perceived as fair and balanced, the bigger the potential audience they can attract. It’s simple numbers.