Fox Biz Network succeeding by outfoxing CNBC

Jeff Reeves, the editor at InvestorPlace.com, writes that Fox Business Network is succeeding by providing an alternative to CNBC.

Reeves writes, “Consider that Neil Cavuto has been on the ball for months when it comes to politics — most glaringly covering primary races while competitors at CNBC were airing infomercials. The crusty newshound in me wants to give a fellow journalist props for that … but the reality is that Fox isn’t just doing this out of altruism. It knows that this is its chance to make a splash with FBN and differentiate it from CNBC.

“‘Yeah, yeah,’ you say. ‘Bottom line is it’s election coverage on a financial news channel. People are watching that on the main Fox News channel or CNN anyway, so stop reading into it.’

“That’s actually the whole point of FBN, in my opinion. It’s about giving a specific viewer a place to get a specific flavor of information.

“Critics say that CNBC is ‘real’ markets coverage and doesn’t do as much softball stuff as Fox — but what they fail to understand is that Fox seems to be courting a more Main Street audience by design. It’s not a lack of skill that makes them pick a seemingly simple issue over a complex one, but what I see as a targeted strategy.

“In short, Fox Business isn’t trying to out-CNBC CNBC. It’s trying to out-Fox CNBC.”

Read more here.