Fox Business cuts ads to cover market drop
Fox Business Network stopped airing advertisements Wednesday so that it could provide nonstop coverage of the stock market drop, reports Brian Steinberg of Variety.
Steinberg reports, “The Fox Business Network anchor had to keep things moving during three commercial-free hours Wednesday as the network covered unrest in China and a market plunge. CNBC also scrambled to cover the event, ditching commercial breaks starting just before 11 a.m., then returning to normal broadcast just before noon. Fox Business stopped running ads between 9:20 a.m. and 12:24 p.m.
“Varney says he doesn’t mind missing a few of the usual interruptions. ‘You are juggling a lot of different pieces on the chessboard – you have guests, different points of view, different reports,’ he says. ‘Without commercials, you are going straight through and it’s more exciting. It’s gripping.’
“This marks the second time in recent days that cable’s business-news channels have cut back on ads during a moment of extreme market activity. Last week, both networks cut back on commercials as the DJIA experienced a more than 900-point drop, and corresponding indexes like the Nasdaq and S&P 500 also tumbled. Like today’s fall, they were driven in part by the constant shift in trade talks between the U.S. and China.”
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