What's next for Rupert Murdoch?

Now that Rupert Murdoch has the Dow Jones & Co. (NYSE: DJ) locked up, Rupert Murdoch can now move on to bigger things: Challenging CNBC for leadership in the business television space.

According to the Wall Street Journal, "As for potential synergies between the Journal and News Corp.'s new business-news channel, (Dow Jones CEO Richard Zannino) hinted that the CNBC agreement may not block other TV channels from access to Dow Jones's "brands and content" when it is related to "nonbusiness journalism." Journal opinion-page editors appear on News Corp.'s (NYSE: NWS) Fox News Channel and it is possible News Corp. could expand those kinds of appearances, Mr. Murdoch said earlier this week in an interview."

I think the new Fox Business Channel could be a formidable challenger to CNBC, mainly because CNBC isn't particularly good. The set is a relic of the 90's internet bubble, and it really lacks any memorable programming other than Mad Money which isn't necessarily memorable in a good way.

While I'm no big fan of the Fox News Channel, it has managed to attract a large audience by providing a more conservative tone than CNN, and that has appealed a much broader audience.

I can't wait for the Fox Business Channel and the acquisition of Dow Jones gives me hope that Murdoch is looking to create a major player, not a tabloid like Fox News.