Flush from its success as a cable TV outlet for political news, Fox is following the news of the demise of CNNfn by preparing to offer a business channel of its own. Fox, a division of News Corp., will roll out a business channel in the "foreseeable future," Multichannel News quoted Rupert Murdoch, the chairman of News Corp., as saying. Murdoch told reporters he couldn't pinpoint precisely when a new channel would come along. It is expected to share expenses with his Fox News Channel.
Murdoch has previously suggested that News Corp. intends to take on CNBC by unveiling a rival financial-news network. The issue has taken on urgency because of the announcement last week that CNNfn, a unit of CNN and its corporate parent Time Warner, would cease operations because it couldn't reach distribution goals. A Fox News spokesman didn't return a call seeking comment this morning. |