Categories: OLD Media Moves

Is there room for three business news networks?

Kevin Coy of NewsonNews.net writes about whether business news consumers need three business news channels on television with all of the other business media out there these days.

Coy writes, “Those in the media circle have waited for a long time for the fledgling Fox Business Network to be rated, in order to see exactly how it stands up to the behemoth that is CNBC. The rating so far, whilst to be fair to FBN, don’t give a fair comparison, still see CNBC romping home. Plus there is the added benefit of CNBC being the investor’s choice, and on screens throughout trading floors and gyms in places where it really matters.

“Fox Business launched with the ambition of bringing ‘Wall Street to Main Street’ but has rarely lived up to that, so much so, that the tag-line hasn’t been used to any real advantage for some time.

“But of course, there is the ‘other’ player in the market… Bloomberg Televison.

“Completely funded by the massive Bloomberg organisation, and with the full resources of Bloomberg News at its disposal, the channel comes close to matching the BBC‘s dominance in global newsgathering.

“So, with a network as well established and trusted by the markets as CNBC, and with a network that has the news-gathering capabilities of the best news-gathering organisations in the world, how can a network, who’s sister channel is unrelentingly politically leaning? For Fox Business, many wrote them off from the start.”