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Fox Business Network Information

Fox Business Network is an American cable news and satellite news television channel that began broadcasting on October 15, 2007.[1] It is owned by the Fox Entertainment Group, part of Rupert Murdoch's News Corporation. The network discusses business and financial news and was available in about 49 million places in the United States as of June 2009.

Contents

History

News Corp chairman Rupert Murdoch confirmed the launch at his keynote address at the 2007 McGraw-Hill Media Summit on February 8, 2007. Day-to-day operations are run by Kevin Magee, executive vice president of Fox News; Neil Cavuto manages content and business news coverage. Ray Hennessey directs the FoxBusiness.com website.[2]

Murdoch had publicly stated that if the purchase of The Wall Street Journal went through and if it were legally possible, he would have rechristened the channel with a name that has "Journal" in it.[3] However, on July 11, 2007, the parent company, News Corp, announced that the new channel would be called Fox Business Network (FBN).[4] This name Fox Business Network was chosen over Fox Business Channel due to the pre-existing (though seldom used) legal abbreviation of FBC for Fox Broadcasting Company.[5]

The network is placed on channel 43 in the New York City market, an important market for financial news. It is paired with Fox News on the dial, which moved to channel 44. CNBC is on channel 15 under the Time Warner lineup in New York.[6] FBN is on Cablevision on channel 106, only available via subscription to their IO Digital Cable package. According to an article in MultiChannel News magazine, NBC Universal paid up to "several million dollars" in order to ensure that CNBC and Fox Business would be separated on the dial, and in order to retain CNBC's "premium" channel slot.[7] However, it is important to note that FBN is on Time Warner analog only in New York; in other markets, digital cable is required.[8] Verizon's FiOS TV, with 515,000 subscribers nationwide, also carries the network on its premier lineup (SD channel 117 and HD channel 617). Dish Network, which began carriage of FBN February 2, 2009, can be found on Channel 206. FBN can also be found on channel 359 on DIRECTV.

On May 12, 2008, Fox Business Network revamped its daytime lineup, which included the debut of two new programs, Countdown to the Closing Bell and Fox Business Bulls & Bears.

On April 20, 2009, Money for Breakfast, The Opening Bell on Fox Business (both hosted by Alexis Glick), The Noon Show with Tom Sullivan and Cheryl Casone, Countdown to the Closing Bell, Fox Business Bulls & Bears and Cavuto all moved to the network's new Studio G set. All six of those shows share the same set in Studio G, which was unveiled on Money for Breakfast the same day.

Fox Business Network HD

Fox Business Network HD is a 720p enhanced high definition simulcast of Fox Business Network. Programming shown on Fox Business Network HD is produced in high-definition, but is cropped to a 4:3 image and pushed to the left of the screen, with the extra room used for additional content, such as statistics and charts, and a wider ticker with more room. The side info is named "The Fox HD Wing". Competitor channel CNBC HD+ also uses the enhanced HD format, as well HD sports channels ESPNews HD and NFL Network HD.

Competition with other business and financial news channels

Studio F, the previous (now 'retail space available') studio for Fox Business Morning & Fox Business

Before the network premiered, there are a few specific facts were made public as to the type of programming approach Fox Business is taking. However, some details emerged as to how it differentiates itself from its main competitor, CNBC.

At a media summit hosted by BusinessWeek magazine, Rupert Murdoch was quoted as saying CNBC is too "negative towards business". They promise to make Fox Business more "business friendly".[9] In addition, it is expected that Fox Business will not be "poaching" a lot of CNBC's on-air talent in the immediate future, as most key on-air personalities have been locked into a long-term contract. However, that still leaves open the possibility of the network taking some of CNBC's other staff, including editors, producers and other reporters.[10] News Corporation, the parent corporation of Fox Business and Fox News channels, has made a successful bid for Dow Jones, owner of the Wall Street Journal. However, CNBC has stated on air that it has a contract with Dow Jones until 2012. One potential issue down the road is the fact that CNBC operates several news bureaus under the same roof as the Wall Street Journal.

On-air staff

FBN's control room

David Asman, Cheryl Casone, Rebecca Diamond, Dagen McDowell, and Stuart Varney are anchors for Fox Business Network, although they will also keep their roles at Fox News. In addition, Brenda Buttner and Terry Keenan are also on the roster on FBN.[11][12]

Other anchors named to the network include Peter Barnes, Tom Sullivan, Jenna Lee, Nicole Petallides and Cody Willard.[13] Fox Business has also announced their first set of reporters; the list includes Jeff Flock (a CNN "original"), Shibani Joshi (from News 12 Westchester), and Connell McShane (from Bloomberg Television).[14] The network also added former Hewlett Packard CEO Carly Fiorina [15] to the growing list of personalities, with Fiorina serving as a contributor to the network.[16]

FBN's control room screen

Dave Ramsey announced on September 20, 2007 that he has signed on to have a one-hour prime time show, similar in format to his syndicated radio show.[17] Tom Sullivan announced on October 2, 2007 that he has signed on to continue broadcasting his Tom Sullivan Show on the radio with plans to syndicate the show nationwide with the assistance of Fox News Radio. Adam Shapiro was added to the Fox Business Network to report from the Washington, DC Bureau. Shapiro was formerly at Cleveland's WEWS-TV and New York City's WNBC-TV. On October 18, 2007, former CNBC anchor Liz Claman joined the Fox Business Network at 2:00 PM EDT. She co-anchors the 2-3pm daypart of the Fox Business Network with David Asman. Her first assignment for Fox Business was an interview with Warren Buffett.

In April 2008, Brian Sullivan (no relation to Tom) joined the Fox Business Network, coming over from Bloomberg Television. Sullivan, who is reunited with his Bloomberg colleague, Connell McShane, now anchors the 10am-noon daypart with Dagen McDowell.

In September 2009 Don Imus and FBN reached an agreement to carry his show, Imus in the Morning, on Fox Business. The show began airing on October 5, 2009.[18] Fox had previously been in negotiations with Imus to bring his show to the network. In November 2007 (when Imus was just returning to radio, and Fox Business was just starting), negotiations fell through and Imus instead signed with rural-oriented cable network RFD-TV.

On December 23, 2009, Alexis Glick left FBN. Announcing that this episode of The Opening Bell would be her last, she said “I know this is not the norm, but I don’t believe in abrupt departures.”[19] The only reason given by Glick for her departure was that she was leaving to "embark on a new venture,"[20] but a number of sources have noted that Don Imus' new morning show had a significant effect upon Glick's screen time since he signed with the network.[21]

Anchors/hosts

Reporters

These reporters are based in New York unless otherwise stated.

1 = also acts as a substitute anchor/host

Contributors

Former on-air staff

Weekday schedule

This is the regular schedule of Fox Business effective November 15, 2010[22]

ET Program Hosts Description
5a-6a Best of Imus Don Imus The network's simulcast of the nationwide syndicated radio program.
6a-9.20a Imus in the Morning
9.20a-11a Varney & Company Stuart Varney This program shows the first movements in the American market.
11a-12p Fox Business Dagen McDowell and Connell McShane Shows the business news in real-time, and up to the minute headlines.
12p-1p Cheryl Casone
1p-2p Lori Rothman and Chris Cotter
2p-3p Brian Sullivan
3p-4p Countdown to the Closing Bell Liz Claman The last 60-minute operations in the Wall Street stocks.
4p-5p Fox Business Bulls & Bears Liz Claman and David Asman The news, analysis and commentaries after the bell rings, and an overview in the day on business.
5p-6p The Willis Report Gerri Willis A show based in the latest of the financial world.
6p-7p Cavuto Neil Cavuto Business analysis, commentaries and the most important headlines. (Repeat at 10p)
7p-8p America's Nightly Scoreboard David Asman The headlines of the day on the American business. (Repeat at 12p)
8p-9p Freedom Watch Andrew Napolitano (Repeat at 11p)
9-10p Follow The Money Eric Bolling

Weekly shows

ET Program Hosts Description
9p-10p Thursday Stossel John Stossel A weekly program highlighting current consumer issues with a libertarian viewpoint. (Repeat at 12a Friday, 9p Saturday, 12a, 4a and 10p Sundays)
10a-11a Saturday Freedom Watch Andrew Napolitano A point of view from Libertarianism. (Repeat at 8&10pm Saturdays, 2a, 6a, 7p and 11p Sundays)
7p-8p Saturday The Tom Sullivan Show Tom Sullivan (Repeat at 10p Saturdays and 8p Sundays)

Online

ET Program Hosts Description
12p-1p FOXBusiness.com Live Chris Cotter and Tracy Byrnes

Ratings

On January 4, 2008, the New York Times, and several other media outlets that day, reported that FBN had registered an average of 6,300 viewers, far below Nielsen's 35,000-viewer threshold. The number was so low that neither Nielsen nor FBN were allowed to confirm the number.[23] The Times and other media outlets noted the network is less than four months old and only in one-third as many households as is CNBC.

In July 2008, Nielsen estimated that FBN averaged 8,000 viewers per daytime hour and 20,000 per prime time hour, compared to 284,000 and 191,000 (respectively) for CNBC. Because FBN's viewership remained low, Nielsen had difficulty estimating viewership, and the estimates are not statistically significant. At the time FBN was available in approximately 40 million homes to CNBC's over 90 million.[24]

As of fall 2008, FBN was losing to CNBC in the ratings by over 10 to 1.[25][26]

The latest numbers available, from June 2009, showed FBN with an average of 21,000 viewers between 5 a.m. and 9 p.m., still under the Nielsen threshold, and less than 10% of CNBC's 232,000 for the same time span. At this point, FBN was available in about 49 million U.S. homes.[27]

Reports of ratings from the first episode of Imus in the Morning reported an average of 177,000 viewers (and a peak of 202,000 in the 7:00 a.m. hour) in the time slot, mostly over the age of 65; this was a more than tenfold increase compared to the network's previous morning show, Money for Breakfast. The program even beat CNBC's Squawk Box in the time slot.[28]

Criticism

Fox Business has been criticized like CNBC[29] for the number of infomercials it airs overnight and particularly on weekends.[30][31] During events regarding the global financial crisis of 2008-2009 however, FBN has forgone informercials and aired overnight coverage from Australian sister network Sky News Business Channel and Sky News from the United Kingdom to provide coverage of the overseas reaction to the events.

International broadcasting

The channel is broadcast to Australia via the Sky News Business Channel.[32][33] Other countries possible in the future include United Kingdom, although the channel's reports are aired on News Corp's Sky News in the UK,[34] Canada[35] and Italy,[36] although negotiations are still on-going with cable and satellite companies.

On April 20, 2009, the Canadian Radio-television and Telecommunications Commission approved Fox Business Network for distribution in Canada[37]

The Fox 50

Fox Business has also put together an industrial index that is made up of, "the largest U.S. companies that make the products you know and use every day." [38] This index includes the following:

Originally, Anheuser-Busch and Merrill Lynch were included in the index, but both were acquired by other companies in 2008. They were replaced by Wells Fargo and HP.[39] This index is not available to purchase in the form of an Index Fund or ETF. The fund received criticism from some financial bloggers for putting together an index with so many competing brands, i.e., Google-Yahoo, FedEx-UPS, McDonalds-Yum! Brands, WalMart-Target-Costco, Apple-Dell-Microsoft, Coca-Cola-PepsiCo, and so on.[40]

Competitors (in the United States)

International competitors include:

References

  1. ^ "Fox Business News debuts". Reuters. 2007-10-16. http://www.webcastr.com/videos/news/fox-business-network-debuts.html.
  2. ^ Fox News Names Ray Hennessey Managing Editor and Director of Fox Business Channel Website. | Media & Telecommunications > Media Content from AllBusiness.com
  3. ^ Siklos, Richard (May 4, 2007). "Murdoch on Owning The Wall Street Journal". The New York Times. http://www.nytimes.com/2007/05/04/business/media/04murdoch.html?pagewanted=2&ei=5090&en=6c32ea528e10ac5f&ex=1335931200&partner=rssuserland&emc=rss. Retrieved May 2, 2010.
  4. ^ Fox Business Network to Launch Oct. 15: Associated Press Business News - MSN Money
  5. ^ mediabistro.com: TVNewser
  6. ^ Fox Business Lands Channel 43 in NYC - 9/5/2007 10:18:00 AM - Multichannel News
  7. ^ NBCU Nets Dial Up In New York City - 9/5/2007 3:07:00 PM - Multichannel News
  8. ^ Fox Business Network Launch Costs NBC Universal - 9/7/2007 5:48:00 PM - Broadcasting & Cable
  9. ^ Q4 Launch for Fox Business Channel - 2/8/2007 11:33:00 PM - Multichannel News
  10. ^ CNBC is facing scary times - as usual - MarketWatch
  11. ^ Fox Business Network Names On-Air Team, Executive Producers - 9/13/2007 2:20:00 PM - Broadcasting & Cable
  12. ^ Inside Cable News :: FBN names five anchors from FNC business team… :: September :: 2007
  13. ^ mediabistro.com: TVNewser
  14. ^ Inside Cable News :: More FBN hires… :: September :: 2007
  15. ^ In an 10 October 2007 article in Daily Variety, it was reported that Fiorina had signed with Fox Business Network to become a frequent business commentator on the newly-formed cable network, intended to be a competitor to the CNBC cable network. Michael Learmonth (2007-10-10). "Fox cabler signs Fiorina". Daily Variety. p. 4.
  16. ^ mediabistro.com: TVNewser
  17. ^ Fox Business Network Names Radio Show Personality Dave Ramsey As Primetime Host
  18. ^ Hinckley, David (September 3, 2009). "Shock jock Don Imus signs television deal with Fox Business Network". Daily News (New York). http://www.nydailynews.com/entertainment/tv/2009/09/03/2009-09-03_shock_jock_don_imus_signs_deal_with_fox_business_network.html.
  19. ^ New York Times Blog
  20. ^ LA Times
  21. ^ Daily Finance
  22. ^ Fox Business Schedule
  23. ^ Stelter, Brian and Jacques Steinberg. Few viewers for infancy of Fox Business. New York Times. 4 January 2008.
  24. ^ "Business Is Slow for Fox Channel." Financial News Outlet Continues to Lag Far Behind CNBC. Washington Post. July 26, 2008. Retrieved on January 23, 2009.
  25. ^ http://www.atimes.com/atimes/Global_Economy/KC18Dj03.html
  26. ^ "Business Is Slow for Fox Channel." Financial News Outlet Continues to Lag Far Behind CNBC. Washington Post. July 26, 2008. Retrieved on January 23, 2009.
  27. ^ Schechner, Sam and Sarah McBride. Fox Business in Talks With Imus Over Show. Wall Street Journal. August 18, 2009. Retrieved August 26, 2009.
  28. ^ Krakauer, Steve (2009-10-06). Has Fox Business Found Its Star? Imus Premiere Gets Strong Ratings. Retrieved 2009-10-08.
  29. ^ Inside Cable News: Infomercials and Fox Business Channel
  30. ^ Inside Cable News: Informercial wars…
  31. ^ Fox Biz blasts CNBC's infomercials… plays more infomercials
  32. ^ Foxtel adds Business Channel
  33. ^ Sky to launch Australia's first business channel
  34. ^ http://www.worldbusinessnews.co.uk/channels/business-television/015-fox-business-network.html
  35. ^ reportonbusiness.com: Purchase this article
  36. ^ Sky, Mockridge, possibile sbarco Tv Fox Finance in Italia (Italian)
  37. ^ http://www.crtc.gc.ca/eng/archive/2009/2009-202.htm
  38. ^ "FOX Business Unveils the FOX 50". Archived from the original on 2007-10-16. http://web.archive.org/web/20071016050351/http://foxbusiness.com/article/fox-business-unveils-fox-50_314390_55.html.
  39. ^ Changes to the FOX 50: Hewlett-Packard, Wells Fargo In, Anheuser-Busch, Merrill Lynch Out
  40. ^ Fox's 50, Maybe Not so Nifty

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