OLD Media Moves

Fox Biz Network to be more consumer friendly

September 18, 2007

Posted by Chris Roush

News Corp. CEO Rupert Murdoch said Tuesday at an investor conference that the new Fox Business Network will be more focused on business news for consumers than rival CNBC.

Fox Business NetworkAn AP story stated, “‘They dwell too much on failures or scandals,’ Mr. Murdoch told an investors conference in New York Tuesday. ‘We want to put a lot on innovations and successes, people who are making money.’

“News Corp.’s long-awaited Fox business network is scheduled to launch on Oct. 15 in about 34 million homes to go up against CNBC, which is owned by General Electric Co.’s NBC Universal unit.

“Mr. Murdoch said he expects the channel to benefit from the newsgathering abilities of Wall Street Journal publisher Dow Jones & Co., which News Corp. agreed last month to buy for $5 billion. The deal is expected to close in a few months.

“An arrangement that Dow Jones has with CNBC only covers business-related news, Mr. Murdoch said, allowing the new Fox channel to use Journal coverage of other areas.”

Read more here.

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