Mike Reynolds of Multichannel News writes that the applications for jobs at the newly announced Fox Business Channel are flooding in from CNBC employees, according to an interview with Fox News head Roger Ailes.
“Currently on board: Fox News executive vice president Kevin Magee who will have daily oversight of the service; and director of business news Alexis Glick, who will also have an on-air presence.
“Asked about profitability, Ailes said the timeline for Fox News to break even was five years. For Fox Business Channel, he said that operating level would come within three to four years. ‘It took five years for Fox News to pass CNN; it wasn’t an overnight success,’ he said. ‘We’re thinking we’ll have to pass through the wilderness here, too.'”
Read more here.
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