Rupert Murdoch and News Corp. (NWS-A) announced Wednesday that their upcoming business news TV channel will launch on Oct. 15. The business channel will compete directly with CNBC (GE).
This has been a work in progress as New Corp. wouldn't launch until they attained at least a potential 30 million cable subscribers, which they now have. They've secured distribution agreements with cable companies Comcast Corp. (CMCSA), Time Warner Cable Inc. (TWC), Charter Communications Inc. (CHTR), and will also be available through satellite TV provider DirecTV Group (DTV).
Murdoch has taken an opening shot at CNBC, saying that the new business network by Fox will be more "business-friendly" than their competitor.
The face of the new business channel will be Neil Cavuto, who currently anchors Your World with Neil Cavuto, the most popular business on show cable. He'll definitely be a force to be reckoned with on the new channel, as he heads up the business coverage.
Chairman and CEO of Fox News, Roger Ailes, will head the new network, while Kevin Magee will run the daily operations.
It'll be good to get another voice in the business world on cable TV.
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» Rupert Murdoch Sends Message will Start Business Channel with or without Dow Jones from ManagersRealm
Rupert Murdoch has made the commitment to topple CNBC as the leading business TV channel in the U.S. It's one of the reasons he made the bid for Dow Jones (DJ).With the announcement on Wednesday that the new business TV... [Read More]
Tracked on: July 13, 2007 6:24 PM | Permalink to Trackback