Talking about business journalism

Marisa Guthrie of Broadcasting & Cable talked with Fox News head Roger Ailes about what Fox Business Network would bring to business journalism.

Here is an excerpt:

You’re going into this venture to provide an alternative to what is out there, from CNBC to Bloomberg, to Business Week to The Wall Street Journal. What do you feel is missing in business news?

It’s a very broad subject matter and a very broad field. And the only thing you can do is present it sort of in a linear fashion. You can take the next three minutes and discuss housing, or you can take the next three minutes and discuss unemployment, or you can take the next three minutes and discuss the last quarterly earnings or a CEO getting fired or going to jail. But in effect, whatever you’re doing, everything else is not being covered. And there are probably a thousand things.

So it’s being able to select, make relevant, produce in a meaningful way, transition to the next thing. So in one sense nothing is being left out and everything is being left out. It sounds a little Zen-like but it is true, that whatever you’re doing I can do something else, and if it’s more interesting people will watch me.

Obviously CNBC is the market leader and the one to beat. But do you consider Bloomberg a real competitor?

I like competition. As a matter of fact, they do a lot of things better than CNBC. They’re more detailed, they’re more technical. If you watch them and you are a real business junkie, you’ll learn more.

Read more here.