Today is the day. News Corporation launches Fox Business Network to challenge CNBC, just as a few years ago the company dared to challenge CNN with Fox News Channel. Will FBN prove to be as successful as its sibling? Fox executives have been mum about exactly what the new service will look like and how its content will fit into the media landscape. The theme which has been heard is that it will be more accessible to "Main Street" than "Wall Street," implying that CNBC and, especially, Bloomberg TV are too focused on professional stock traders and the jargon they use. There’s also suspicion, though, that Fox executives have tried to spread a little disinformation to throw CNBC off guard. Today, at last, we find out what Rupert Murdoch and his associates really have in mind.
TVBR observation: Somehow, we can’t imagine Neil Cavuto talking abut how to cut grocery bills by coupon clipping or comparing the relative costs and environmental impacts of cloth vs. disposable diapers. However much FBN tries to make investing more accessible to ordinary people with IRAs and 401(k)s, the underlying issue is still how to understand what is going on in financial markets so you can build your nest egg. The battle between FBN and CNBC, particularly during the market day, is going to have to be about who has the hot trading tips and the most interesting guests with insights into what is going on with the overall economy and individual companies.