Saturday, September 12, 2009

Major Coups at Fox Business

As the Fox Business Channel nears its second anniversary, big things appear to be happening tothe still largely new network. The news media has largely discredited the channel and has even treated it as the ugly step child of the widely successful News Corp family. Network news has often second guessed the decision making of the network's chairman, Rupert Murdoch. In the last few weeks Murdoch and Fox have taken decisive actions designed to put Fox Business on the media map.

First there is the announcement of Don Imus joining the Fox News team. In a press release from the network earlier this month we read "FOX Business Network (FBN) has signed a multi-year deal with legendary radio personality Don Imus in which his nationally syndicated program Imus in the Morning will be simulcast on the channel, announced Kevin Magee, Executive Vice President. Beginning October 5th, the program will be presented in High Definition (HD) Monday through Friday from 6-9 AM ET on FOX Business and continue to be syndicated on the radio by Citadel Media. " Imus reaches millions of listeners every day whom he will drive to the Fox Business Network as they prepare for their day before getting into their cars. Meanwhile, those who love their hard business information will get plenty of reports during Imus' broadcast. Furthermore, Imus will be in a corner screen surrounded by news stories thorough out the broadcast. People will get plenty of business news. This is a huge victory for Imus as he departs the largely limited RFD network and a win for Fox Business who will have its brand promoted to the large audience Imus enjoys.

Shortly after the Imus announcement we are now hearing that one of the country's premier broadcast journalists, John Stossel, is leaving ABC to become a part of the Fox Business and Fox News family. In a statement Fox Business reports that "Award-winning journalist John Stossel has signed a multi-year deal with FOX Business Network and the Fox News Channel. Stossel, who is best known for his work on ABC’s '20/20,' will anchor a one-hour, weekly program on FOX Business, entitled 'Stossel.'" According to Fox, the "program will look at consumer-focused topics, such as civil liberties, the business of health care and free trade." Stossel's activities will not be limited to Fox Business, as he "will also appear regularly on the Fox News Channel, and will produce a series of one-hour specials for FOX News. His blog, “Stossel’s Take,” will be published on both FOXBusiness.com and FOXNews.com."

Separately, the journalist has said “I’m thrilled to join Fox News and look forward to inventing a new show for Fox Business." Fox is thrilled too, I am sure. For those in the news media who have questioned the wisdom in creating another business network, Murdoch may just be a little crazy. Crazy as a fox.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. His articles often appear in Chicago Sun Times, Reuters, USA Today, and other national media. Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

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