New channel launch set for Oct. 15

By Annalyn Censky
July 12, 2007

News Corporation, which is currently locked in negotiations to acquire Dow Jones & Co., will launch its new business cable channel, the FOX Business Network, on Oct. 15, the company announced July 11.

The new network is expected to compete directly with business channels CNBC and Bloomberg Television.

Neil Cavuto, FOX News senior vice president, will manage the content of the channel. In a press release, he said the cable channel will build on the "success of our existing top five business programs in cable news."

Those programs include "Your World with Neil Cavuto," a one-hour daytime financial program, and a weekend business wrap-up program "Cavuto on Business," both of which currently air on FOX News Channel.

The business channel will have access to 30 million subscribers after the company secured distribution agreements with cable operators around the country.

The network is based in News Corporation’s midtown Manhattan studios, with bureaus in Chicago, Los Angeles, San Francisco, Washington, D.C., and London.

CNBC, operated by General Electric Co.'s NBC Universal, is the current market leader in business cable news, followed by Bloomberg Television.

Owned by Rupert Murdoch, News Corporation's media empire includes the FOX television and film studios, and British Sky Broadcasting Group in the United Kingdom.

The company has a $5 billion bid pending to take over Dow Jones & Co., publisher of The Wall Street Journal, Barron's and Dow Jones Newswires.

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Copyright © 2008 Donald W. Reynolds National Center for Business Journalism