Fox Business Network challenges CNBC

With the launch of Fox Business Network (FBN) in mid-October, many media watchers wonder if the new cable channel will look at business news the way that Fox News looks at the rest of the world—i.e., through the prism of the red states. While the prevailing slant is not yet clear, the opening slate of anchors and producers come mostly from Fox, indicating the business channel will favor the conservative viewpoint.

Rupert Murdoch, chairman and CEO of Fox’s parent, News Corp., said as much earlier this year at a media summit sponsored by BusinessWeek. “We want to be more business-friendly,” Murdoch was quoted as saying, adding that leading business network CNBC’s coverage tends to be “negative” about business.

Murdoch reiterated his opinions about the differences between the two business networks at a Goldman Sachs investor event held in September. “CNBC is a financial channel for Wall Street,” Murdoch told attendees. “They dwell too much on failures or scandals … We want to put a lot on innovations and successes, people who are making money.”