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CNBC and Bloomberg TV will have more competition:

News Corp Announces Q4 Launch of Fox Business Channel
Posted on Feb 9th, 2007


Rupert Murdoch announced yesterday that the much-anticipated Fox Business Channel will launch in Q4 2007. The "business-friendly" channel will go head-to-head with General Electric's CNBC. News Corp. will distribute the channel to 30 million homes through arrangements with Time Warner, Comcast, Charter Communications and DirectTV. The channel will be run by Roger Ailes, chairman and CEO of Fox News. Since the shuttering of CNNfn in 2004, CNBC has had only Bloomberg Television as a competitor in cable business news. Media analysts remain to be convinced whether the market wants three 24-hour business channels, although the enormously successful Fox TV, which debuted in 1985 to compete with ABC, NBC and CBS, was initially met with similar doubts. Fox News fixture Neil Cavuto will be responsible for news coverage at the new channel. In related news, Mr. Murdoch stated that News Corp. will now turn its attention to providing TV content to be broadcast on the screens of mobile phones.