I agree...the business network field is already crowded, with CNBC, CNNfn, Bloomberg and the rest. Neal Cavuto surged to the head of the pack because he offers a perspective that's different from the talking heads on CNBC or CNNfn, but I'm not sure we need "Cavuto on Business" around the clock. Ditto for entertainment. I watch E! on occasion, and it's watchable for about five minutes before the banality drives me out of my mind. FNC does a good job with the entertainment stuff--particularly Bill McCuddy--but I'm not sure it's enough to build a network around.
A more logical expansion would be a FNC International outlet, bringing the "fair and balanced" approach to a global audience. The western Europeans would sniff, but it would be a ratings winner in places like eastern Europe and Asia. Barring that, I say don't dilute the product, concentrate your resources on crushing CNN and MSNBC once and for all...
I think an international FNC spinoff would be an awful idea - CNN did that, and look what happened - we ended up with something EVEN more leftist than CNN USA (yes, it's possible). What FOX SHOULD do, and I think they are, is keep getting foreign media outlets to carry FOX. It's available in a surprisingly high number of countries considering its target audience is only the USA and that no ads are shown during the commerical breaks abroad. I also hear that wherever its shown internationally, the ratings are skyhigh.