TV business news goes to South Beach

Glenn Garvin of The Miami Herald writes Saturday about CNBC‘s decision to air its “Fast Money” show live from Miami and what it means for business journalism.

Garvin wrote, “The turnout, double what CNBC had expected, reflected the expanding popularity of TV business news, once little more than a secretive cult for a handful of Wall Street that has turned into a burgeoning growth industry.

“Three cable channels — CNBC, Bloomberg and the Fox Business Network, which went on the air just five months ago — are warring for viewers, and South Florida has become one of the battlegrounds. Fox Business’ Happy Hour, which competes head to head with Fast Money, will do its own live telecast from Miami Beach in two weeks.

“‘And we announced ours first,’ sniped a Fox Business spokesman Friday.

“CNBC, for its part, said all’s fair in love and business news.

“‘What can I say? I love to compete,’ said Susan Krakower, head of strategic programming at CNBC and the creator of Fast Money. ‘I think it’s wonderful. It leads to better programming and innovative thinking.'”