Rupert Murdoch: We Are Fighting Very Hard To Get Fox Business News Greater Distribution



(image via observer via patrickmcmullen)

The Fox Business Network Launch Party at the Metropolitan Museum of Art last year was one for the ages. Little did they know that the American financial crisis, one year later, could present an opportunity at becoming the primary news source on the most important story of a generation. CNBC is Fox Business News' primary competition, although Bloomberg News has been, of late, ramping up their efforts. The Corsair asked Neil Cavuto on TVNewser about the glitz that attended the Fox Business Network Launch Party and today's financial crisis and the FOX Business Network exec quipped, "I've asked our chief honcho Kevin Magee to arrange the next one at Denny's."

The going has been slow in the early days, but it should be noted that Fox Business Network launced in 30 million homes -- one-third of CNBC's reach -- andf is now in about 56 million homes. From Paidcontent:

"One more nugget from News Corp.’s earnings call: Asked by Jessica Reif Cohen where the Fox Business Network is relative to expectations and about expected losses, Murdoch replied: 'We can talk pretty honestly about it. ... It will probably cost us best part of $60 million to $70 million this year. We are fighting very hard for greater distribution. We are achieving it slowly. And when we get over 50 million subscribers, we will turn on a lot more heat, we will turn on better programs and we think we will be much more aggressive in getting advertising. But I think that’s another year to two years away.'"

Full story here.