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When Fox Busines Network debuts on October 15, it will be a fly buzzing around the elephant that is CNBC. All the talk about the looming war, battle, or clash of the titans is hype.
As BusinessWeek points out, Fox Business Network will have one-third of CNBC's reach and will also lag behind Bloomberg TV. News Corp. (NYSE: NWS) Chief Executive Rupert Murdoch has said his channel will be geared toward Main Street instead of CNBC's Wall Street focus. I don't know what that statement means. CNBC's mission is to try and convince individual investors they must act RIGHT NOW to avoid financial ruin or to gain immediate riches. That seems to speak directly to Main Street.
Murdoch, though, is a patient man. People thought he was nuts to take on Time Warner Inc.'s (NYSE: TWX) CNN, and now Fox News rules the ratings. He keeps the New York Post going because he wants to stick it to the liberal media establishment A.K.A. The New York Times. Power motivates him almost as much as money. That's why the media tycoon doesn't care if Fox Business News isn't immediately profitable or even if it takes some time to get into the black. He's trying to prove a point.
The biggest challenge facing Fox Business News is the same one facing the General Electric Co. (NYSE: GE) cable channel: attracting an audience. For most people who don't read stock market blogs, business news is pretty dry stuff. That's why CNBC's anchors always yell the news written in their teleprompters to make things seem more exciting.
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Reader Comments (Page 1 of 1)
10-04-2007 @ 11:59AM
ken said...
It won't take long and Fox Business News will be well ahead of CNBC. Fox News rules the cable network after those in the know said it would never compete with CNN.
CNBC is stale and predictable.
I am looking forward to a fresh approach and TOM SULLIVAN will certainly exceed any of the talking heads at CNBC.
This from a frequent listener to SULLIVAN in Sacramento
10-04-2007 @ 2:34PM
Mike said...
Jonathan Berr
, Don't underestimate the loyal viewers of the Fox News brand. Even with a reach of 31 million you will soon see Fox right there with CNBC in the Nielsen ratings.
10-04-2007 @ 6:36PM
angela said...
im way overdue for a change
10-04-2007 @ 11:35PM
Brockage said...
I've learned a lot on CNBC, but I've always wondered why there is so much yelling when news is reported. Thanks to you, now I know.
10-08-2007 @ 12:22AM
CoronadoTrader said...
Will it be on dishnetwork? if not, I guess I'll be switching to DirectTV.
10-20-2007 @ 8:49AM
Marta D said...
Americans need to wake up to the reality that most of what they see and hear that is labeled as "news" (business or otherwise) is in fact manufactured by media moguls like Murdoch and political hacks designed to create the reality they so choose or distract from the reality they don't want you to know. Their goal is to bend the public to their view and will without them knowing they are being manipulated (as is that of the American educational system). All major media outlets are owned by approximately five people in this country, each with their own agenda, and viewers would be wise to be mindful of this and not believe everything they see and hear simply because it's on TV or in a newspaper or magazine, or on the radio or internet. Think for yourselves and try to verify what is fed to you as "news" before blindly accepting it. The only news even approaching "truth" that I have seen is from Link TV and Google Current TV, and from many of the independent bloggers on the internet. I rarely watch network or cable news anymore. If there is something I want or need to know, I generally do my own research so CNBC and Fox Business Network can battle it out all they want. Neither will serve as my sole source of information on anything.