A new era for Fox begins today with a business network channel.
A new era for Fox begins today with a business network channel.
By: Dan Stewart
Oct 15, 2007 00:17 AM GMT
Fox News is entering a new era as the network launches its first cable business channel. Fox Business Network, also dubbed, "FBN," begins with familiar faces from the regular news channel.
There�s Fox News anchor Neil Cavuto, who has spearheaded development of FBN as Fox News� senior vice president of business news.
Cavuto was earlier involved in a Fox-CNBC clash of sorts when he was lured away from CNBC by Fox in 1996.
The war for business viewers between Fox News and CNBC will be interesting.
Fox News CEO Roger Ailes, the mastermind behind the phenomenal success of the Fox News Channel � who was also lured away from CNBC � is overseeing the new venture.
Then there�s Fox News� parent News Corp.�s recent $5 billion deal to purchase Dow Jones and The Wall Street Journal, a marriage that offers limitless possibilities for the new television business channel.
And there�s the power of Rupert Murdoch�s News Corp. itself, a media behemoth with more than 47,000 employees and revenue of some $28 billion last year.
Rumors about a possible Fox News-developed business channel have floated around for years, but officials at the company didn�t formally announce plans to unveil the channel until this year.
Fox execs have already claimed that when word leaked out they planned a reality show from Wall Street�s nearby bars, CNBC began poaching the idea.
FBN is expected to debut in at least 30 million households, about one third of CNBC�s reach and even less than Bloomberg TV's.
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