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Fox Business News Network Has Likely 2007 Launch

Jun 20, 2006  •  Post A Comment

The long-awaited Fox business news channel is likely to launch in early to mid-2007, Fox News Chairman Roger Ailes told UBS analysts Tuesday.

Mr. Ailes said he thinks there is room for both a TV and an Internet competitor to CNBC. He told the analysts the business channel’s content will stand on its own and will not need to ride Fox News Channel’s coattails to get cable coverage.

The Fox News chairman said that Fox News Channel, which draws double and often triple the viewers CNN and MSNBC do, is worth a $1-per-month subscriber fee, and that parent company News Corp. will fight to receive fair value for the 10-year-old channel, whose original distribution agreements begin to expire in September.

Mr. Ailes said he expects new deals with Comcast, Cablevision and DirecTV to be in place before fiscal year 2008.

Mr. Ailes also said that despite a slowing cable advertising market, Fox News is poised again to generate record profits in the coming year. He said 50 percent of Fox News Channel inventory is expected to be sold in the upfront, which he expects will wrap up in September.

MyNetworkTV also is part of Mr. Ailes’ News Corp. portfolio and will launch Sept. 5. Mr. Ailes said the lineup of original telenovelas on weeknights get generate a 1.8 rating among 18- to 49-year-old viewers and $50 million in operating income.