OLD Media Moves

Fox Biz head encourages network to cover more business news

October 17, 2011

Posted by Chris Roush

Kevin Magee, who runs Fox Business Network, has sent a memo to the network’s staffers telling them to cover more business and economics topics and fewer political topics, reports Peter Lauria of Reuters.

Lauria writes, “Unhappy with Fox Business’ focus on politics, Magee fired off a memo to employees reminding them that the network was not created to be a light version of its sister Fox News Channel.

“‘I’ve been asked to remind you all again that they are separate channels and the more we make FBN look like FNC the more of a disservice we do to ourselves,’ Magee said in the memo dated October 5, carrying the subject line ‘Fox News and Fox Business.’

“‘I understand the temptation to imitate our sibling network in hopes of imitating its success, but we cannot,’ Magee went on to say in the memo. ‘If we give the audience a choice between FNC and the almost-FNC, they will choose FNC every time. Earnings, taxes, jobs etc give us PLENTY to chew on.’

“Fox Business, which was launched in October 2007 with $100 million in initial capital, sought to take Wall Street to Main Street by covering business stories for ordinary people — seeing a market as CNBC and Bloomberg Television cater primarily to financial professionals.”

Read more here.

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