[Infowarrior] - Fox launches 'anti-Wall St.' biz channel

[Richard Forno]

Fox launches 'anti-Wall St.' biz channel

Published: 15, 2007 at 8:29 AM
http://www.upi.com/NewsTrack/Business/2007/10/15/fox_launches_antiwall_st_bi
z_channel/8560/

NEW YORK, Oct. 15 (UPI) -- Rupert Murdoch's News Corp. on Monday launched
Fox Business Network in New York as a "Main Street" alternative to General
Electric Co.'s CNBC business network.

"I throw $2 in every time I say something like 'basis point,'" correspondent
and former hedge fund trader Cody Willard told viewers, explaining the
channel's anti-jargon, anti-Wall Street position.

The cable channel, which expected to reach at least 30 million U.S. homes,
took out a full-page color ad on the back page of the main section of
Monday's The Wall Street Journal saying "Your Second Opinion Arrives Today."

For its part, CNBC took out a full-page black-and-white ad in the Journal's
"Marketplace" section headlined "First in Business News" that called CNBC
"America's Business Channel" and said the channel was "fast, accurate,
actionable, unbiased."

NewsCorp. bought Dow Jones & Co.'s Journal for $5 billion in a deal
announced Aug. 1 that is expected to be completed by December.

But the channel, based at News Corp.'s New York headquarters, cannot air any
Wall Street Journal business reporters. A 15-year agreement between Dow
Jones and CNBC keeps Journal business reporters from appearing on Fox
Business until the contract ends in 2012.