Fox Business News closer to launch

Rupert Murdoch confirmed Thursday plans to finally launch the long-awaited Fox Business News cable channel this fall, according to an AP story. The media mogul wasted no time taking jabs at rival network CNBC calling it too quick to report on scandals. Instead, Fox Business News reportedly will be "business friendly" kind of like how Fox News is "Republican friendly." It is hoped the new network will fare better than News Corp.'s latest U.S. TV venture, MyNetwork. The broadcast network, which exclusively airs prime-time soap operas on former UPN affiliates, reportedly is losing $2 million a week. Ouch.—Matthew Wurtzel

See story from Associated Press via Forbes
See related story from Blogging Stocks
See earlier posts about Fox Business News
See earlier posts about MyNetwork

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