Categories: OLD Media Moves

CNBC faces formidable competitor with Fox Biz Network

Meg James of The Los Angeles Times writes Thursday that CNBC will face formidable competition from the upcoming Fox Business Network, which will launch Oct. 15.

She wrote, “Wealthy viewers have allowed CNBC to charge advertising rates that are, in some cases, more than double its cable news channel counterparts, including CNN and Fox News Channel, according to people with knowledge of its rates.

Murdoch’s strategy is for the Fox Business Network to force down CNBC’s ad rates. CNBC also might find itself spending more money to compete.

CNBC has “huge profit margins and they don’t spend a lot of money on programming,” said Derek Baine, cable television analyst with SNL Kagan. “But now they are going to have to pay a lot more for talent and programming.”

NBC executives have felt that pinch before. In the early 1990s, when Murdoch entered the bidding for sports programming, the fees to televise National Football League and Major League Baseball games skyrocketed.

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

Making financial news more accessible

CNBC Make It reporter Ashton Jackson writes about ways to make financial news more accessible to consumers.…

1 hour ago

SABEW names Best in Business Book winners

The Society for Advancing Business Editing and Writing announced Wednesday the winners and finalists for…

6 hours ago

Business leaders turning away from traditional biz news outlets

Business professionals are turning away from traditional business media sources such as newspapers, magazines and…

6 hours ago

Wired seeks a reporter to cover tech companies

WIRED seeks a reporter to cover tech companies and their influence, with a particular focus…

8 hours ago

Austin daily hires Leonard as tech reporter

Karoline Leonard has been hired by the Austin American-Statesman as a technology reporter. Leonard graduated from…

11 hours ago

WSJ reporter Evans departs for Tradeoffs

Wall Street Journal reporter Melanie Evans has left the news organization for Tradeoffs, a nonprofit news organization…

12 hours ago