Fox challenges CNBC with new biz channel
Business Law
Rupert Murdoch has entered a dark horse in high-stakes races before, and won. On Monday, the News Corp. media titan trots out the Fox Business Network.
Two years in the making, the channel will challenge General Electric Co.'s highly profitable CNBC network as it seeks to redefine business news for average Americans faced with increasingly complex decisions about their financial futures.
Murdoch already has knocked CNN off the cable news throne with Fox News Channel. Can he do the same to NBC Universal's profit machine, whose audience of affluent professionals is one of the most sought-after advertising targets?
"CNBC has a monopoly on an in-demand demographic, but never underestimate Murdoch," said Porter
Bibb, a managing partner at Mediatech Capital Partners, a financier of media businesses. "Success might take a while, but this is the right thing for them to do."
Fox defines success—aside from ratings—as expanding the business news audience by "demystifying" the subject, according to Kevin Magee, the Fox News executive vice president in charge of the new business channel. There are plenty of people not watching business news because it's presented in an "off-putting" way, he said.
Magee would not disclose the programming schedule, citing competitive concerns. But FBN's flashy Web site promises the network will cut through jargon to speak to the average investor, echoing comments by Murdoch last month that his channel
Related listings
-
Profit Boost Perks Up Wal-Mart Shares
Business Law 10/11/2007Wal-Mart (WMT) shares climbed 3% Thursday after the giant retailer surprised Wall Street by boosting its earnings estimate for the third quarter, despite tepid sales. The Bentonville, Ark., company said it now expects to make 68 cents to 69 cents a s...
-
Treasurys Dip As Rate Cut Seems Unlikely
Business Law 10/10/2007[##_1L|1353340092.jpg|width="128" height="81" alt=""|_##]Treasury prices fell Wednesday amid a growing consensus in the bond market that the Federal Reserve won't cut rates this month. Minutes from the Fed's September monetary policy meeting, release...
-
GE to close some plants in Brazil
Business Law 10/07/2007General Electric Co. said Thursday it will close a number of lighting plants in Brazil and the U.S. as part of a plan to restructure its consumer and industrial division, potentially cutting more than 1,400 jobs in the process. GE Consumer & Indu...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.