Jeff Zucker, the head of NBC Universal, the parent of CNBC, spoke Wednesday at the Harvard Business School media and entertainment conference and suggested that the launch of Fox Business Network has made his business news network better.
Broadcasting & Cable reported, “Zucker also mused on News Corp.’s $ 5 billion acquisition of Dow Jones and its crown jewel, The Wall Street Journal.
“‘Obviously, Dow Jones is a fantastic company,’ he said. ‘Whether it’s worth the price News Corp. paid for it, time will tell. It’s easier to pay that price when the only shareholder you care about is the one you see in the mirror every day,’ he quipped, referring to News Corp. chief Rupert Murdoch.
“He conceded that News Corp.’s Fox Business Network — which will surely mine the talent at The Wall Street Journal once the newspaper’s exclusive content agreement with CNBC expires in 2012 — has been healthy competition for CNBC.
“‘It made our game better,’ he added. ‘And it brought more attention to CNBC than we could have ever bought.'”
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