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Posts Tagged ‘Kevin Magee’

Why Biz Network Ratings Continue to Slide

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The Wall Street Journal takes stock of the three TV business networks and sees that their fortunes are sagging.

In the third quarter, CNBC, the dominant business-news channel, hit a 20-year low in its target demographic of adults 25 to 54 years old. (CNBC’s gross advertising revenue is down 4% to $251.6 million since last year, according to SNL Kagan.) Six-year-old Fox Business Network remains on a long-term growth trajectory, but its average total daytime audience has declined from last year — to 58,000 from 71,000 — and has fallen short of some media buyers’ expectations. Bloomberg LP, meanwhile, is rethinking the business model of its TV channel, having failed to turn a profit or draw more than 10% of the audience for TV business news despite being on the air for nearly two decades.

Why is this happening? Reporters Keach Hagey and William Launder write that, beyond online and streaming competition, “business television has faced the added challenge that individual investors are fleeing the stock market as an increasing amount of trading is done by institutional investors and algorithms.”

“I think there are all sorts of places you can get stock prices,” said Kevin Magee, the executive vice president of Fox Business Network. “Aside from that, there is general unhappiness with the economy these days, and it isn’t always fun to watch news that’s bad.”

Other highlights from the article…

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Charlie Gasparino Re-Signs With Fox Business

Fox Business has re-signed Charlie Gasparino to a multi-year deal. Gasparino will continue in his role as senior correspondent for both FBN and Fox News Channel.

“Charlie thrives on holding Wall Street accountable and his tenacious, hard-nosed approach to journalism has made him one of the most respected reporters in the industry. We look forward to his continued success in breaking market-moving news,” FBN EVP Kevin Magee said in a statement.

Gasparino joined FBN from CNBC in 2010. In a statement, he praised FBN, saying the network “doesn’t play the Wall Street apology game, which gives me the freedom to do my job.”

Booking Wars: ‘Business leaders are not going to be blackmailed’

Investor Place follows up on the CNBC booking policy story. The author, Jeff Reeves, is a regular guest on cable business news himself, and he talks to other guests and TV executives.

He praises CNBC for the quality of the programming, but also argues that the old days when CNBC was the only game in town are over.

CEOs have a choice of TV networks (even if CNBC is still the big dog) but can also publish their thoughts themselves, as Tesla CEO Elon Musk recently did responding to a New York Times review.

If I were in the booking department of CNBC, I would think twice about some of this lest big-time CEOs and hedge fund managers tire of the whole affair.

Or as Kevin Magee, the executive vice president of Fox Business Network, said to me more bluntly, “Business leaders are not going to be blackmailed, much less be dictated to by some booker in Englewood Cliffs.”

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Don Imus Re-Signs With Fox Business Network

Fox Business has re-signed Don Imus to a multi-year deal. Imus’ radio program, “Imus in the Morning,” will continue to simulcast on FBN weekdays from 6-9amET.

“Imus has been a great addition to the FBN team bringing a business savvy program that informs and entertains our pre-market audience,” FBN EVP Kevin Magee said in a statement. We look forward to continuing our success in the years to come.”

“Imus in the Morning” debuted in 2009 and is one of the top-rated programs on FBN. It was also announced today that he has signed a three-year deal for his radio show with Cumulus Media.

More in FBN’s release after the jump.

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Inside the Book Party for Melissa Francis’ Diary of a Stage Mother’s Daughter

Melissa Francis jokes that she wants to be writer when she grows up. The Fox Business Network anchor is already on her second career. And with the publication of her memoir, “Diary of a Stage Mother’s Daughter,” she’s on her way to fulfilling that adulthood dream. Francis was feted last night at Astra, an event space overlooking Manhattan’s East River. The memoir is a brutally honest, sometimes painful, yet touching story of life as a child actor. After dozens of commercials, her first big break came on “Little House on the Prairie.”

In a Media Beat interview this summer Francis told us the book, includes “the typical family dramas, set against the backdrop of a very unusual childhood.”

But last night, no drama, just celebrating. Among the guests, FNC/FBN c0-founder and chairman Roger Ailes, FBN EVP Kevin Magee, anchors Neil Cavuto, Liz Claman, Lori Rothman, Cheryl Casone, Elizabeth MacDonald, Tracy Byrnes, Sandra Smith, Nicole Petallides, Tom Sullivan and Dennis Kneale.

From FNC, we spotted Bill Hemmer and chatted with Megyn Kelly about election night, and the moment that took her from the studio through the bowels of Fox News to the decision desk as they explained calling Ohio for Pres. Obama, giving him the election and giving Karl Rove agita. Following many long months of election coverage and, more recently, of Hurricane Sandy, which left her without power for a week, Kelly was looking forward to taking today off.

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FBN’s Charlie Gasparino Latest To Be Caught In ‘Pulitzer’ Flap

This week we noted how Bloomberg had to retract an ad featuring anchor Betty Liu, because it said that she was  “Pulitzer Prize-Nominated” when in fact, her work was simply submitted to the Pulitzer committee by her bosses.

Now Fox Business Network’s Charlie Gasparino has been busted for the same thing. Once again, MSNBC.com’s Bill Dedman caught the error, and received a statement from Gasparino and FBN:

When asked on Tuesday in which year he was nominated, former boxer Gasparino jabbed back in a one-line email: “I was nominated by the wsj sir.”

A Fox spokeswoman also sent over a statement:

“The Wall Street Journal submitted Charlie Gasparino’s reporting of Wall Street research scandals to the Pulitzer Board in 2002,” said the statement from Kevin Magee, executive vice president of Fox Business Network. “While Fox Business never claimed he was a finalist for the award, we’ve clarified his bio to reflect the submission as opposed to a nomination.”

To reiterate, anyone can be a Pulitzer “nominee,” all you need is enough cash for the submission fee. The Pulitzer Committee selects “finalists” (which neither Liu nor Gasparino have ever been) and names one of them a “winner.” Both Liu and Gasparino had their work submitted by their editors, which is an honor within their respective news outlets, but not quite at the level of “Pulitzer Prize Nominee.”

Update: FBN executive VP Kevin Magee tells TVNewser that this whole issue is “A tempest in a thimble.”

“I just think this whole thing is a tempest in a thimble at this point,” Magee tells us. “What we are talking about is the use of the word ‘nominated,’ Charlie was lucky enough, or worked hard enough to have his work selected by the Wall Street Journal editors to be submitted to the Pulitzer committee. It was never anything more than that, I would probably call that nominated myself.  We both found out last week that they prefer you not call that nominated. So we changed his  bio and his references, it was not a big deal for us and not a big deal for him. It is a gigantic honor to have your work chosen by the editors of the Wall Street Journal, and he is justifiably proud of that, as are we for that matter.”

Don Imus and Neil Cavuto Butt Heads Once Again on FBN

Fox Business Network host Don Imus has never been afraid to share his feelings about the network on-air. Last year Imus and FBN host Neil Cavuto got into an on-air tiff, and this morning it happened again.

“You are incorrigible,” Cavuto said, prompting Imus to respond by referring to him as a “Fox News executive” rather than host, and referring to FBN executive VP Kevin Magee as “fat Kevin.” There is no Imus in team,” Cavuto quipped, before mentioning that Howard Stern called Imus “a divider, not a uniter.”


(h/t J$P)

Primetime Shakeup at FBN: Bolling, Asman, Napolitano Shows Dropped

A major overhaul is coming to Fox Business Network’s primetime programming later this month. The network is dropping three shows, hosted by Judge Andrew Napolitano, David Asman and Eric Bolling.

Beginning February 20, the network will repeat “The Willis Report,” “Cavuto” and “Lou Dobbs Tonight” at 8pm, 9pm and 10pmET, respectively.

The network is developing a new show hosted by Melissa Francis, who recently joined FBN from CNBC, that will air at 5pmET. When it debuts later this year, the current 5pmET program — “The Willis Report with Gerri Willis” — will air live at 8pmET.

Bolling and Napolitano will continue their on-air roles at Fox Business and Fox News; Asman will continue to anchor the 4pmET show on Fox Business.

“We look forward to Judge Napolitano, David and Eric continuing to make significant contributions to both FOX Business and FOX News,” FBN EVP Kevin Magee said in a statement.

Fox Business Network, which launched in October 2007, continues to struggle in the ratings. Last week, FBN ranked 89th in primetime and 86th in Total Day among ad-supported cable networks, drawing 51,000 and 56,000 viewers, respectively.

>We just got off the phone with Fox Business EVP Kevin Magee, who told us that the production staffs of the three cancelled shows will be up for positions on Francis’s new 5pm show, as well as daytime positions on FNC and FBN. As for the scheduling shifts: “She’ll do better at 8 than what we’ve had at 8,” Magee said of shifting Willis into the 8pmET timeslot.

“We want to make sure that the people who are doing the best job with the audience and who have the most credibility with the audience get more exposure,” he adds.

Cavuto to Imus: It’s Not Viewers’ Fault ‘That Your Show Is Awful’

Things got a little heated on FBN’s “Imus in the Morning” today between Don Imus and FBN anchor Neil Cavuto, who is a frequent guest on the show. At issue was Imus’ claim that his “bastard” viewers are to blame for his inconsistent ratings, which Cavuto, the senior vice president of FBN, disagreed with.  “My ratings are very consistent,” Cavuto said. “Yours are not, because people don’t like you.”

Watch the exchange, which gets interesting around 1:35 and includes references by Imus to both FBN EVP Kevin Magee and CEO Roger Ailes in a less-than-flattering light:


[h/t J$P]

Fox Business Exec to Staff: Stop Being Fox News Lite

Reuters columnist Peter Lauria has an internal memo from Fox News executive VP Kevin Magee to staff at Fox Business Network. The memo, with the header “Fox News and Fox Business,” tells staff to stop trying to be Fox News lite, and refocus on covering business stories.

“I’ve been asked to remind you all again that they are separate channels and the more we make FBN look like FNC the more of a disservice we do to ourselves…

“If we give the audience a choice between FNC and the almost-FNC, they will choose FNC every time. Earnings, taxes, jobs etc give us PLENTY to chew on.”

Lauria went on to speak with Magee, who said the decision to send the memo came after a conversation with Fox News CEO Roger Ailes. While FBN is finally cash-flow even and rated by Nielsen, it is still far behind CNBC in essentially every ratings and revenue category.

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