In an interview earlier today, Rupert Murdoch wouldn’t give details about the forthcoming business channel launch because “everything we do, CNBC will copy.” Here are some:
NEW YORK, Feb. 8, 2007 — News Corporation will launch a business cable network scheduled to debut in the fourth quarter of 2007, announced Rupert Murdoch, Chairman and Chief Executive Officer of the company. Roger Ailes, Chairman and CEO, FOX News and Chairman, FOX Television Stations will develop and oversee the new venture, which is currently named FOX Business Channel.
Presently, FOX Business Channel has 30 million subscribers under contract after securing distribution agreements with multiple cable operators, including: Time Warner; Comcast; Charter, and Direct TV. The network, which will be housed at News Corporation headquarters in midtown Manhattan, is expected to launch in major markets across the country, including the world’s financial capital — New York — where it will be seen on expanded basic cable.
In making the announcement, Murdoch said, “We have long considered the business television market to be underserved. Having built FOX News into a cable news leader and a cultural phenomenon against all expectations, I’m confident that Roger Ailes and his team can do the same in business news. I look forward to introducing new competition and a new voice to the business news arena.”