Fox Business Channel to launch on the cheap

Rupert Murdoch isn't afraid to spend money, but when it comes to his nascent Fox Business Channel, News Corp. is launching the network on the cheap. Apparently the channel will start with just a $100 million budget, which is chump change for a cable startup, according to PaidContent. By way of comparison, Condé Nast is pouring the same amount into business magazine Portfolio. And, as Fortune's Tim Arango noted, Murdoch spent about $400 million to get Fox News off the ground. Of course, by the time FBC launches in October, Dow Jones may belong to the Fox financial news empire. If so, at least part of the $6 billion or so News Corp. would pay for the Wall Street Journal parent could be apportioned to the new network. After all, gravitas isn't cheap. —Matthew Wurtzel

See story from PaidContent
See related story about Dow Jones offer from TheDeal.com
See Media Maneuvers about Portfolio from TheDeal.com

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