Fox Business and News Breaks Bailout Agreement

I just received an email from Jessica Rice of Fox Business who was telling me a story that will most likely be missed by most in the media -- the role of the Fox networks in breaking the federal bailout story, and of Fox Business in particular. She wrote that "this afternoon, FOX Business Network’s senior Washington correspondent Peter Barnes was the only one to obtain the Senate Banking Committee agreement of principle outline that Senator Democrats and some Republicans had agreed upon to propose to the President today at the big economic meeting."

She added that "Barnes... had the first concrete piece of paper we saw on this outline. Additionally, this afternoon at 12:54 PM ET, after a fundamental, initial deal had finally been reached between Democrats and Republicans on Secretary Paulson’s $700 billion bailout plan, FOX Business Network beat all the major cable news networks" with this information.

Finally, Rice indicated that Fox Business "was the first to report news of the deal at 12:54pm ET, followed by Bloomberg, FOX News Channel, CNBC, MSNBC, and CNN."

Some have argued why there was a need for an additional business network and others, because of their ideological agendas, have suggested that Fox wouldn't be taken seriously. News Corp has always been a leader in innovation and journalism. From the creation of a television business news network that pursues the interests of Wall Street to Main Street in Fox Business or in its purchase of the Bible of the financial world, The Wall Street Journal.

The thing I have enjoyed in working with the network is the sense of family I have seen that is so contrary to journalism today. I have had Alexis Glick, David Asman, Jonathan Hoenig, and others from the network on the program and their genuine love for their network is seen in the way they perform their jobs and how they represent the company.

In addition to providing a sense of understanding in its concerns about Main Street it also maintains a commitment to being "fair and balanced" that is similar to its sister station, Fox News. Because we have become so accustomed to a media bias with a driven agenda, we often see Fox as "Conservative." Honestly, it is only in the context of how blatantly liberal much of the rest of the media remains.

I congratulate Fox Business on these firsts as it approaches its very first anniversary. I am expecting even more from the network in the years to come.

Kevin Price articles frequently appear at ChicagoSunTimes.com, Reuters.com, USAToday.com, and other national media.

Kevin Price is Host of the Price of Business (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.