Alex Weprin of Capital New York writes about how Roger Ailes wants to overhaul Fox Business Network in 2014 to make it more competitive with CNBC.
Weprin writes, “So far, only three FBN shows have any ratings traction, and two of them are anchored by men known more for their politics than than their business acumen. The simulcast of Don Imus’ radio show does well for the channel, and is routinely the top-rated show on FBN, while CNN outcast Lou Dobbs holds his own in the early evenings. Stuart Varney’s program also does well for FBN.
“But there is a network-wide perception problem. Imus sees fewer than half as many viewers as watched his morning simulcast back when it was on MSNBC, while Dobbs sees perhaps one fifth of the audience that watched him on CNN. Even if Kennedy’s panel show is a success it won’t move the needle on the perception that FBN is just more Fox News on a different channel.
“Then there will be the existing internal culture Ailes will have to dismantle and rebuild. While Imus, Dobbs and Varney are secure, sources tell Capital other FBN anchors, like Liz Claman and Melissa Francis, are angry about Bartiromo’s arrival, lest they get pushed to less prime periods, or off the anchor desk altogether.
“But Fox Business is finally widely distributed on cable and satellite providers, and became rated by Nielsen in 2011. It is also profitable thanks to expanded carriage agreements and improved ad sales, a point that 21st Century Fox emphasized on its yearly earnings call last month. It may not be as profitable as CNBC, which generates an estimated $800 million a year, according to SNL Kagan, but it isn’t losing money either.”
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