Much has been said of Rupert Murdoch's planned Fox Business Channel, and how it makes his bid to buy Dow Jones, Inc. necessary.
But even as Mr. Murdoch appears to grow "frustrated" with talks to purchase Dow Jones, the launch of News Corp's Fox Business channel is going ahead as planned, according to a statement released yesterday afternoon and posted on mediabistro.com:
Headquartered in News Corporation's street level studios in midtown Manhattan, FBN has also established bureaus in such key markets as Chicago, Los Angeles, San Francisco (Silicon Valley), Washington, D.C. and London.
In making the announcement, Cavuto said, "I'm extremely excited to be part of such a dynamic venture and I look forward to building on the success of our existing top five business programs in cable news."
FOX News Executive Vice President Kevin Magee will be responsible for the channel's day to day operations, while Cavuto will direct content and business news coverage and serve in an on-air capacity. Cavuto will report to Magee and Roger Ailes, Chairman & CEO, FOX News and Chairman of FOX Television Stations, who will oversee FBN.
- Read the full release at mediabistro.