Fox Business Network’s staff was told to stop copying Fox News and to keep its focus on business news, reports Reuters, citing an internal memo from a high-ranking Fox News executive.
In the Oct. 5 memo, Fox News Executive Vice President Kevin Magee wrote: "The more we make FBN look like FNC the more of a disservice we do to ourselves." The memo had the subject line "Fox News and Fox Business," the story says.
"If we give the audience a choice between FNC and the almost-FNC, they will choose FNC every time. Earnings, taxes, jobs etc give us PLENTY to chew on," Magee wrote.
Four years after its debut, Fox Business’ ratings trail CNBC’s, which the story calls a disappointing performance in comparison with Fox News’ ratings dominance.
Magee confirmed the memo and said he decided to send it after speaking with Roger Ailes, the chairman and CEO of Fox News Channel. Magee noted that given the coming U.S. presidential election, it was worth emphasizing the importance of Fox Business honing its own voice, the piece adds.