TVSpy LostRemote AgencySpy PRNewser FishbowlNY FishbowlDC SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Fox Business Network No Longer Losing Money

Nearly four years since it launched, Fox Business Network is finally no longer bleeding cash. On his quarterly earnings call yesterday, News Corp. CEO Rupert Murdoch said that FBN was “cash break even.”

Of course, not losing money and making money are not the same thing. FBN still has significant distribution issues–it is only available in just over half of the homes that CNBC is available in, and it earns a lower sub fee. In addition, while the channel saw significant ratings bumps during the financial turmoil over the last few weeks, CNBC saw them too.

In other words, FBN is making progress, but it is slow going, and despite some slip-ups in coverage over the past few weeks (having taped programming during market turmoil), CNBC still has a big advantage.

Update: Benzinga notes that Lou Dobbs actually beat Larry Kudlow on CNBC in the demo, and came close in total viewers last Thursday. of course, a single day means very little in cable news, what matters is where shows end up averaging.

Also on the ratings call, News Corp. COO Chase Carey said that Fox News still has roughly half of its subscription universe coming up for renewal in the next year, and that “both Fox and Fox News will take subscription fees to a whole new level.”

Mediabistro Course

Online Production for Writers and Editors

Online Production for Writers and EditorsStarting July 17, learn how to create multi-dimensional content for your digital mediums! Taught by a multiplatform journalist, Darragh Worland will teach you how to create content that is multi-dimensional and editorially relevant, use the web to its full potential, create stories that have social media campaigns built in and increase your value as as an employee. Register now!