Fox Business Network

Fox Business Network is a United States-based cable and satellite news channel that commenced broadcasting on October 15, 2007 at 5:00 a.m. Eastern Daylight Saving Time. It is owned by Rupert Murdoch's News Corporation. The network is available to more than 30 million people.News Corp chairman Rupert Murdoch confirmed the launch at his keynote address at the 2007 McGraw-Hill Media Summit on February 8, 2007. Day-to-day operations are run by Kevin Magee, executive vice president of Fox News; Neil Cavuto manages content and business news coverage.Murdoch had publicly stated that if the purchase of the Wall Street Journal went through and if it were legally possible, he would have rechristened the channel with a name that has "Journal" in it.[3] However, on July 11, 2007, the parent company, News Corp, announced that the new channel would be called Fox Business Network (FBN).[4] This name choice is because it better fits with the official business name of the Fox television network, Fox Broadcasting Company or FBC, and Fox News Channel had recently been branded FNC, as well as to avoid bad jokes stemming from an acronym such as BJ for Business Journal.[5]

The network is placed on channel 43 in the New York City market, an important market for financial news. It is paired with Fox News on the dial, which moved to channel 44. CNBC is on channel 15 under the Time Warner lineup in New York. [6] According to an article in MultiChannel News magazine, NBC Universal paid up to "several million dollars" in order to ensure that CNBC and Fox Business would be separated on the dial, and in order to retain CNBC's "premium" channel slot. [7] However, it is important to note that FBN is on only Time Warner analog in New York; in other markets, digital cable is required. [8] Verizon's FiOS TV, with 515,000 subscribers nationwide, also carries the network on its premier lineup, which most customers have. Dish Network does not carry FBN.