As you know by now, Fox Business is giving CNBC the business. FBN rushed a promo to air, and has taken out an ad in The New York Times and the News Corp.-owned Wall Street Journal. Well, CNBC isn't taking it lying down.

This morning during the 6am hour of Squawk Box, Joe Kernen was talking with CNBC's CBOT on-air editor, Rick Santelli prior to Santelli's Today show live shot.

Kernen: Thanks Rick. Stick around, I know you have big network things that you are doing today, but this is the network of record for this story.

Santelli: This is the network. Everything else is just elevator business music.

Kernen: Bingo