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Fox Business Network is a United States-based cable and satellite news channel. It is owned by Rupert Murdoch's News Corporation. The network is expected to be available to more than 30 million people when it commences broadcasting on October 15, 2007 at 5 am Eastern Standard Time.
Fox chairman Rupert Murdoch confirmed the launch at his keynote address at the 2007 McGraw-Hill Media Summit on February 8, 2007. Day-to-day operations will be run by Kevin Magee, executive vice president of Fox News; Neil Cavuto will manage content and business news coverage. Ray Hennessey will direct the FoxBusiness.com website. The channel will also broadcast worldwide from the first quarter of 2008 with Australia confirmed along with the possibility of the United Kingdom. Fox is also in talks to broadcast the network in Canada, although negotiations are still on-going with cable and satellite companies.
Murdoch has publicly stated that if the purchase of the Wall Street Journal went through and if it were legally possible, he would rechristen his planned Fox Business Channel with a name with “Journal” in it. However, on July 11, 2007, the parent company, News Corp., announced that the new channel will be called Fox Business (FBN). This name choice is because the official business name of the local Fox television network is Fox Broadcasting Company, and they already utilize the FBC initials.
Time Warner Cable announced that the network would be placed on channel 43 in the New York market, an important market for the financial news network. It will be paired with Fox News on the dial, which will move to channel 44. CNBC is on channel 15 under the Time Warner lineup in New York. According to an article in MultiChannel News magazine, NBC Universal paid up to "several million dollars" in order to ensure that CNBC and Fox Business would be separated on the dial, and in order to retain CNBC's "premium" channel slot. However, it is important to note that FBN will be on only Time Warner analog in New York; in other markets, digital cable will be required. Verizon's FiOS TV, with 515,000 subscribers nationwide, will carry the network on Channel 94 on its premier lineup, which most customers have, spokeswoman Heather Wilner said.
CNBC vs. Fox Business News Channel
Although few specifics have been made public as to the type of programming approach Fox Business plans to take, some details have emerged as to how it plans to differentiate itself from its main competitor, CNBC.
* At a media summit hosted by BusinessWeek magazine, Rupert Murdoch was quoted as saying CNBC is too "negative towards business". They promise to make Fox Business more "business friendly".
* It is expected that Fox Business will not be "poaching" a lot of CNBC's on-air talent in the immediate future, as most key on-air personalities have been locked into a long-term contract. However, that still leaves open the possibility of the network taking some of CNBC's other staff, including editors, producers and other reporters.
* News Corporation, the parent company of Fox Business and Fox News Channels, has made a successful bid for Dow Jones, owner of The Wall Street Journal. However, CNBC has stated on air that it has a contract with Dow Jones until 2012. One potential issue down the road is the fact that CNBC operates several news bureaus under the same roof as the Wall Street Journal. - Source: Wikipedia.org
Posted October 15th, 2007 by Armen Hareyan
There is a big difference
There is a big difference between available to 30 Million households and how many people are actually watching Fox Business News. Creating articles like this with no references shows your ignorance and lack of education, as well as serious defecit in your jouranlistic abilities.
FBN averanges less than 16,000 viewers at any given time while CNBC averages 250,000+. This is from Neilson Ratings and you can feel free to use actual refences instead of making up news and the posting it.
What a bunch of bafoons you guys are.