A CNBC insider writes in:

“Yesterday when the media alert went out about the announcement of the creation of a ‘new network,’ middle management at CNBC went into ‘great concern’ mode — not exactly panic mode, but slightly agitated mode — because one of the rumors zipping around was that it would be Fox announcing the birth of the Fox Business Channel.

Furrowed brows and whispers all around the newsroom and the assignment desk of ‘how to handle’ such an announcement. When it turned out to be the CW network, there was a collective sigh of relief.”