Fox Business Network launches

Source: Technology Digital

Date :10/15/2007 5:10:10 AM

Newscorp’s business news channel Fox Business Network is set to make its debut on Monday.

According to Rupert Murdoch Newcorp’s CEO, Fox Business Network promises to serve "Wall Street and Main Street," aiming to expand the audience for business news beyond Wall Street viewers with shows focused on making money and finding success.

It will also take on General Electric Co.'s cable business news leader CNBC.

Two years in the making, the channel which will air to a little over 30 million households, already has the distribution to get more viewers than CNBC.

Global business coverage

The launch is part of Murdoch's plan to dominate global business news coverage on air and in print, and follows News Corp's $5 billion deal to buy The Wall Street Journal's publisher, Dow Jones & Co Inc.

Once the $5billion (£2.45 billion) acquisition of Dow Jones goes through, News Corp will be able to draw on even more resources - though CNBC will retain a deal with Dow Jones to use its reporters as contributors for some years to come.

In charge of the new network is Fox News President Roger Ailes, who also ran CNBC in the early 1990s.

Neil Cavuto, Fox News Channel host, is managing editor of business news and will also work as an anchor.

October 15 2007

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