Fox Business

Source: Wikipedia, the free encyclopedia.

Fox Business Network
SDTV feed)
Ownership
OwnerFox Corporation
ParentFox News Media
Sister channels
History
LaunchedOctober 15, 2007 (2007-10-15)
Links
WebcastFox News Go and FoxNow app (Pay-TV subscribers only)
WebsiteFOX Business

Fox Business (officially known as Fox Business Network, or FBN) is an American

business news channel and website publication owned by the Fox News Media division of Fox Corporation. The channel broadcasts primarily from studios at 1211 Avenue of the Americas in Midtown Manhattan
. Launched on October 15, 2007, the network features trading day coverage and a nightly lineup of opinion-based talk shows.

Day-to-day operations are run by Kevin Magee, executive vice president of Fox News; Neil Cavuto is the vice president and managing editor for the network and business news operation overall.[citation needed]

As of February 2015, Fox Business Network is available to approximately 74,224,000 pay television households (63.8% of households with television) in the United States.[1]

History

McGraw-Hill Media Summit on February 8, 2007. Murdoch had publicly stated that if News Corporation's 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.[2] However, on July 11, 2007, News Corporation announced that the new channel would be called Fox Business Network (FBN),[3] a name chosen over Fox Business Channel due to the pre-existing (though seldom used) legal abbreviation of "FBC" for the co-owned broadcast network Fox Broadcasting Company.[4]

Before the network launched, few specific facts were made public as to the type of programming approach Fox Business would be taking. However, some details emerged as to how it would differentiate itself from its main competitor,

BusinessWeek magazine, Rupert Murdoch was quoted as saying CNBC was too "negative towards business". They promised to make Fox Business more "business friendly".[5] In addition, it was expected that Fox Business would not be "poaching" a lot of CNBC's on-air talent in the immediate future, as most key on-air personalities had been locked into a long-term contract. However, that still left open the possibility of the network taking some of CNBC's other staff, including editors, producers and other reporters.[6]

The channel launched on October 15, 2007.

FiOS TV also carries the network on its premier lineup (SD channel 117 and HD channel 617). Dish Network began carrying FBN on channel 206 on February 2, 2009. FBN also received carriage on DirecTV channel 359. As its prominence grew, some providers indeed moved the channel to their basic package, and some have paired Bloomberg Television
, CNBC and FBN next to each other as part of 'genre' channel maps.

On November 10, 2015, Fox Business Network, along with The Wall Street Journal hosted its first Republican presidential primary debate, setting a ratings record for the network with 13.5 million viewers. The debate also delivered 1.4 million concurrent streams, making it the most watched livestreaming primary debate in history and beating out the 2015 Super Bowl by 100,000 streams.[11] Fox Business Network hosted its second Republican primary debate on January 14, 2016, in Charleston, South Carolina with Neil Cavuto and Maria Bartiromo serving as moderators. Both of these primetime debates also included earlier debates featuring presidential candidates who were not ranked as highly in the national polls as well as those based in Iowa or New Hampshire.[12]

Studio F, the previous (now a FedEx Office) studio for Fox Business Morning and Fox Business

On December 14, 2017, 21st Century Fox announced it would sell a majority of its assets to The Walt Disney Company in a transaction valued at over $52 billion. Fox Business Network was not included in the deal and was spun off to the significantly downsized Fox Corporation, along with the Fox Broadcasting Company, Fox News Channel and Fox Sports 1 and 2.[13] The deal was approved by Disney and Fox shareholders on July 27, 2018, and was completed on March 19, 2019.[14]

On September 29, 2019, Fox Business Network unveiled a new slogan, "Investing in You", a new on-air graphics scheme based on one recently adopted by Fox News Channel, and updated digital platforms. The channel also announced the new Friday-night program

Barron's Roundtable.[15][16]

Programming and on-air staff

FBN's control room

David Asman, Maria Bartiromo, Cheryl Casone, Dagen McDowell, and Stuart Varney are anchors for Fox Business Network; they also appear on Fox News Channel. In addition, Brenda Buttner was also on the roster on FBN until her passing in 2017.[17]

Other anchors include Peter Barnes, Tom Sullivan, Jenna Lee, Nicole Petallides and Cody Willard.[18] Reporters include Jeff Flock (a CNN "original"), Shibani Joshi (from News 12 Westchester), and Connell McShane (from Bloomberg Television).[citation needed] The network previously had former Hewlett-Packard CEO Carly Fiorina (a 2016 presidential candidate) as a contributor.[19]

Dave Ramsey had a one-hour prime time show, similar in format to his syndicated radio show, until June 2010.[20] Tom Sullivan broadcast his Tom Sullivan Show on the radio, with plans to syndicate the show nationwide with the assistance of Fox News Radio. Adam Shapiro (formerly with Cleveland's WEWS-TV and New York City's WNBC) was added to the Fox Business Network to report from the Washington, D.C. bureau. On October 18, 2007, former CNBC anchor Liz Claman joined the Fox Business Network as co-anchor of the 2-3 p.m. portion of the dayside business news block with David Asman. Her first assignment for FBN was an interview with Warren Buffett.

In April 2008, Brian Sullivan (no relation to Tom) joined FBN, coming over from Bloomberg Television. Sullivan, who reunited with his Bloomberg colleague Connell McShane, anchored the 10 a.m.-12 p.m. portion of the business news block with Dagen McDowell.

On May 12, 2008, Fox Business Network revamped its daytime lineup, which included the debut of two new programs, Countdown to the Closing Bell and Fox Business Bulls & Bears. On April 20, 2009, Money for Breakfast, The Opening Bell on Fox Business (both hosted by Alexis Glick), The Noon Show with Tom Sullivan and Cheryl Casone, Countdown to the Closing Bell, Fox Business Bulls & Bears, and Cavuto all moved to the network's new Studio G set. All six of those shows shared the same set in Studio G, which was unveiled on Money for Breakfast the same day.

In September 2009, Don Imus and FBN reached an agreement to carry his show, Imus in the Morning, on Fox Business. The show began airing on October 5, 2009.[21] Fox had previously been in negotiations with Imus to bring his show to the network. In November 2007 (when Imus was just returning to radio, and Fox Business was just starting), negotiations fell through and Imus instead signed with rural-oriented network RFD-TV.

On December 23, 2009, Alexis Glick left FBN. Announcing that that day's episode of The Opening Bell would be her last, she said "I know this is not the norm, but I don't believe in abrupt departures."[22] The only reason given by Glick for her departure was that she was leaving to "embark on a new venture,"[23] but a number of sources have noted that Don Imus' new morning show had a significant effect upon Glick's screen time since he signed with the network.[24]

On November 10, 2010, FBN announced that former CNN anchor Lou Dobbs would join the channel.[25] His program, Lou Dobbs Tonight, moved to FBN in March 2011.[26]

On February 24, 2014, former CNBC host Maria Bartiromo moved to FBN, where she would host Opening Bell with Maria Bartiromo, and become a Fox News contributor.[27][28][29]

In April 2015, it was reported that Fox Business would drop the Imus in the Morning simulcast, as Imus was planning to move from New York City to Texas. On May 11, the network officially announced a new daytime lineup that would begin June 1; FBN AM would air from 5-6 a.m. ET, and Bartiromo moved to the 6-9 a.m. ET timeslot formerly held by Imus to host Mornings with Maria. Varney & Company was moved up to 9 a.m. and expanded to three hours, Neil Cavuto would host the new midday program Cavuto: Coast to Coast, and Trish Regan (moving from Bloomberg Television) would host the new afternoon program The Intelligence Report, and Melissa Francis moved to co-anchor After the Bell alongside David Asman.[30][31]

Former UK Independence Party head Nigel Farage was announced as a commentator on January 20, 2017, the day of Donald Trump's presidential inauguration. Farage will provide political analysis for both Fox Business and Fox News.[32]

Sports programming

Fox Business Network has occasionally served as an overflow channel for

NASCAR Camping World Truck Series overrun, that Fox would prefer the use of FBN for future Pac-12 overflow situations, as it has significantly wider distribution (if not slightly wider than FS1 in terms of total households) than FS2, and that it would carry minimal impact to programming.[33][34][35][36]

On-air staff

Anchors/hosts

Reporters

These reporters are based in New York unless otherwise stated.

Contributors

Former on-air staff

Ratings

On January 4, 2008, The New York Times and several other media outlets reported that FBN had registered an average of 6,300 viewers, far below Nielsen's 35,000-viewer threshold. The number was so low that neither Nielsen nor FBN were allowed to confirm the number.[37] The Times and other media outlets noted the network is less than four months old and only in one-third as many households as is CNBC.

In July 2008, Nielsen estimated that FBN averaged 8,000 viewers per daytime hour and 20,000 per prime time hour, compared to 284,000 and 191,000 (respectively) for CNBC. Because FBN's viewership remained low, Nielsen had difficulty estimating viewership, and the estimates are not statistically significant. At the time, FBN was available in approximately 40 million homes to CNBC's over 90 million.[38]

In the fall 2008, FBN was losing to CNBC in the ratings by over 10 to 1.[39][40]

By June 2009, showed FBN with an average of 21,000 viewers between 5 a.m. and 9 p.m., still under the Nielsen threshold, and less than 10% of CNBC's 232,000 for the same time span. At this point, FBN was available in about 49 million U.S. homes.[41]

Reports of ratings from the first episode of Imus in the Morning reported an average of 177,000 viewers (and a peak of 202,000 in the 7:00 a.m. hour) in the time slot, mostly over the age of 65; this was a more than tenfold increase compared to the network's previous morning show, Money for Breakfast. The program even beat CNBC's Squawk Box in the time slot.[42]

In 2012, Lou Dobbs Tonight was challenging CNBC's Larry Kudlow, earning 141,000 total viewers on Fox Business Network.[43]

The first

quarter of 2016 had FBN experience its strongest ratings in its history with day programming up 111 percent in total viewers and 130 percent in the key age 25 to 54 demographic, compared to a year before.[44]

As of August 2017, Fox Business had surpassed CNBC's ratings for nine consecutive months, and Lou Dobbs Tonight was the most-watched program in business news. CNBC announced in 2015 that it would no longer rely on Nielsen ratings to measure its daytime audience, turning to rival Cogent Reports instead.[45]

Controversies

COVID-19 pandemic

On March 27, 2020, Trish Regan departed the network, amid criticism of a segment on the March 9 episode of Trish Regan Primetime, where she accused Democrats of exploiting the COVID-19 pandemic solely to blame President Donald Trump for it, and launch another round of impeachment hearings.[46][47]

On December 23, 2020, Mornings with Maria aired an interview with a person who claimed to be

meat packing industry could "effectively [bring] on the next pandemic.” Bartiromo issued a correction at the end of the show, admitting that they had been "punked".[48][49]

Smartmatic election fraud claims

In November 2020, Fox Business anchors Maria Bartiromo and Lou Dobbs promoted conspiracy theories during their programs, tying the

fact-checked various election fraud claims (including those surrounding Smartmatic).[51][52][53]

On February 4, 2021, Smartmatic filed a $2.7 billion lawsuit against Fox News Media for defamation, specifically naming Bartiromo, Dobbs, and Pirro.[54] The next day, Fox Business abruptly canceled Lou Dobbs Tonight.[55]

Availability

Outside the United States

On April 20, 2009, the Canadian Radio-television and Telecommunications Commission approved Fox Business Network for distribution in Canada;[56] it is currently available through Rogers Cable's 'Ignite TV' service.

As of July 2011, the channel is carried on Sky Italia (a fellow News Corporation company at the time), its first European carriage deal. Fox Business HD was first broadcast in Israel by cable provider Hot in 2015, and it is also carried by Cellcom TV and Partner TV.

In Australia,

Sky plc in the United Kingdom (a fellow 21st Century Fox company at the time) until December 2016, when News Corp Australia (a fellow Rupert Murdoch company) acquired the Australian broadcaster in its entirety.[citation needed
]

In the United Kingdom, Fox Business is available for streaming on the Fox News International mobile application.

Dispute with Spectrum

In 2018, Fox Business Network decided to Spectrum, to remove FBN and FNC. Both channels were removed from the Spectrum lineup on May 1, 2018. On May 10, 2018, both Fox Business Network and Fox News returned to Spectrum after a hiatus.

High definition

The

4:3 image and pushed to the left side of the screen, with the extra room used for additional content, such as statistics and charts, and a wider ticker with more room; the information sidebar was named "The Fox HD Wing" (competitor channel CNBC HD
used the enhanced HD format until October 13, 2014, when it was discontinued altogether).

The sidebar graphic was dropped as a result of the network's switch to a

letterboxed
format on September 17, 2012, ending the enhanced HD format altogether. The enhanced ticker and headlines, which were previously seen in the old sidebar graphic, were moved to the lower-third of the screen. Both the SD and HD feeds now use the same exact 16:9 letterbox format, just like its other Fox-owned sister networks.

The Fox 50

The Fox 50 is an industrial index of large companies that is used by FBN; it consists primarily of "the largest U.S. companies that make the products you know and use every day."[58] The index includes:

Merrill Lynch were included in the original index, but each was acquired by other companies in 2008. They were replaced by Wells Fargo and HP.[59] In March 2011, CBS Corporation, Charles Schwab Corporation, Lowe's, Sprint Nextel, and Yahoo! were removed, and replaced by DuPont, Ford, JPMorgan, Pfizer, and UnitedHealth Group.[60]
This index is not available to purchase in the form of an index fund or ETF. The fund received criticism from some financial bloggers for putting together an index with so many competing brands (such as FedEx and UPS; McDonald's and Yum! Brands; WalMart, Target and Costco; Apple, Dell and Microsoft; and Coca-Cola and PepsiCo).[61]

Competitors

References

  1. ^ Seidman, Robert (February 22, 2015). "List of how many homes each cable network is in as of February 2015". TV by the Numbers. Zap2it. Archived from the original on February 23, 2015. Retrieved March 14, 2015.
  2. ^ Siklos, Richard (May 4, 2007). "Murdoch on Owning The Wall Street Journal". The New York Times. Retrieved May 2, 2010.
  3. ^ "Fox Business Network to Launch Oct. 15: Associated Press Business News - MSN Money". October 27, 2007. Archived from the original on October 27, 2007.
  4. ^ Brian on (July 17, 2007). "TVNewser". mediabistro.com. Archived from the original on October 12, 2007. Retrieved November 24, 2011.
  5. ^ "Q4 Launch for Fox Business Channel - 2/8/2007 11:33:00 PM - Multichannel News". Multichannel.com. February 8, 2007. Retrieved November 24, 2011.
  6. ^ "CNBC is facing scary times - as usual". MarketWatch. Archived from the original on October 12, 2007. Retrieved November 24, 2011.
  7. ^ "Fox Business Network Debuts". CBS News. October 15, 2007.
  8. ^ "Fox Business Lands Channel 43 in NYC - 9/5/2007 10:18:00 AM - Multichannel News". Multichannel.com. Archived from the original on October 13, 2007. Retrieved November 24, 2011.
  9. ^ "NBCU Nets Dial Up In New York City - 9/5/2007 3:07:00 PM - Multichannel News". Multichannel.com. Retrieved November 24, 2011.
  10. ^ "Fox Business Network Launch Costs NBC Universal - 9/7/2007 5:48:00 PM - Broadcasting & Cable". Broadcastingcable.com. Retrieved November 24, 2011.
  11. ^ "FOX Business Network Shatters Rating Record for GOP Presidential Debate". foxbusiness.com. FBN. November 11, 2015. Archived from the original on December 26, 2015. Retrieved January 11, 2016.
  12. ^ "FOX Business Network Announces Moderators for GOP Primary Debates on Jan. 14". foxbusiness.com. FBN. January 5, 2016. Archived from the original on January 6, 2016. Retrieved January 12, 2016.
  13. ^ Battaglio, Stephen (December 14, 2017). "What will the Fox TV network be without its own production studio?". Los Angeles Times. Retrieved December 14, 2017.
  14. ^ "21st Century Fox And Disney Stockholders Approve Acquisition By Disney". The Walt Disney Company. July 27, 2018. Retrieved March 19, 2019.
  15. ^ Steinberg, Brian (September 29, 2019). "Fox Business Refresh: New Slogan, Graphics, 'Barron's' Series Set to Debut". Variety. Retrieved September 29, 2019.
  16. ^ Johnson, Ted (September 30, 2019). "Fox Business Network Adds 'Barron's Roundtable' To Friday Lineup". Deadline. Retrieved October 1, 2019.
  17. ^ "Fox Business Network Names On-Air Team, Executive Producers - 9/13/2007 2:20:00 PM". Broadcastingcable.com. Retrieved November 24, 2011.
  18. ^ Ariens, Chris (September 18, 2007). "TVNewser". mediabistro.com. Retrieved November 24, 2011.
  19. ^ Ariens, Chris (October 9, 2007). "Fiorina Comes To FBN". TVNewser. mediabistro.com. Archived from the original on January 28, 2013. Retrieved November 24, 2011.
  20. ^ "Fox Business Network Names Radio Show Personality Dave Ramsey As Primetime Host". Daveramsey.com. Archived from the original on October 3, 2007. Retrieved November 24, 2011.
  21. ^ Hinckley, David (September 3, 2009). "Shock jock Don Imus signs television deal with Fox Business Network". Daily News. New York.
  22. ^ Stelter, Brian (December 23, 2009). "Alexis Glick Leaves Fox Business". Media Decoder Blog.
  23. ^ "Anchor Alexis Glick leaving Fox Business Network". Los Angeles Times. December 24, 2009.
  24. ^ Daily Finance
  25. ^ Lou Dobbs joining Fox Business Network Los Angeles Times November 10, 2010
  26. ^ "Lou Dobbs Will Debut on Fox Business Network in Two Weeks". Intelligencer. Retrieved February 6, 2021.
  27. ^ Steigrad, Alexandra (November 7, 2016). "Maria Bartiromo on the Post-Election Market Reaction and Plunging Necklines". WWD. Retrieved February 4, 2021.
  28. ^ Levy, Nicole. "Maria Bartiromo: Biz TV's day-trader audience 'isn't there anymore'". POLITICO Media. Retrieved March 24, 2021.
  29. ISSN 0099-9660
    . Retrieved March 24, 2021.
  30. ^ Patten, Dominic (May 11, 2015). "Fox Business Network Revamps Lineup With Don Imus' Exit". Deadline. Retrieved April 12, 2021.
  31. ^ Weprin, Alex. "Don Imus, Fox Business Network to 'amicably' part ways". POLITICO Media. Retrieved April 12, 2021.
  32. ^ "Nigel Farage hired by Fox News as a political analyst". BBC. January 20, 2017. Retrieved January 21, 2017.
  33. ^ "Cracks are forming in the Pac-12: Will they be patched before it's too late?". CBS Sports. Retrieved May 18, 2018.
  34. ^ "Fox Business Network is the new home of Big Ten football". Awful Announcing. September 23, 2017. Retrieved May 18, 2018.
  35. ^ "Stanford and Washington State are playing on Fox Business Network thanks to weather delay at Michigan State". Awful Announcing. November 4, 2017. Retrieved May 18, 2018.
  36. ^ "Pac-12 overflow will now go to Fox Business, not FS2, but that wasn't the league's biggest issue". Awful Announcing. May 15, 2018. Retrieved May 18, 2018.
  37. ^ Stelter, Brian and Jacques Steinberg. "Few viewers for infancy of Fox Business". The New York Times. January 4, 2008.
  38. ^ "Business Is Slow for Fox Channel." "Financial News Outlet Continues to Lag Far Behind CNBC" The Washington Post. July 26, 2008. Retrieved on January 23, 2009.
  39. ^ "Asia Times Online :: Asian news and current affairs". Atimes.com. March 18, 2009. Archived from the original on March 22, 2009. Retrieved November 24, 2011.{{cite web}}: CS1 maint: unfit URL (link)
  40. ^ "Business Is Slow for Fox Channel." Financial News Outlet Continues to Lag Far Behind CNBC. The Washington Post. July 26, 2008. Retrieved on January 23, 2009.
  41. ^ Schechner, Sam and Sarah McBride. "Fox Business in Talks With Imus Over Show". The Wall Street Journal. August 18, 2009. Retrieved August 26, 2009.
  42. ^ Krakauer, Steve (October 6, 2009). "Has Fox Business Found Its Star? Imus Premiere Gets Strong Ratings". Retrieved 2009-10-08.
  43. ^ Knox, Merrill (October 1, 2012). "'Lou Dobbs Tonight' Tops 'Kudlow Report' Among Younger Viewers in Q3". www.adweek.com. Retrieved September 9, 2023.
  44. ^ Flood, Brian (March 30, 2016). "Fox Business Capitalizes on Ratings Momentum Ahead of Upfronts". Thewrap.com. Retrieved June 2, 2016.
  45. ^ Concha, Joe (August 22, 2017). "'Lou Dobbs Tonight' most-watched business news show of the year". The Hill. Retrieved August 23, 2017.
  46. ISSN 0362-4331
    . Retrieved March 27, 2020.
  47. ^ "Trish Regan Says Coronavirus Is An Impeachment 'Scam'". Mediaite. March 10, 2020. Retrieved March 27, 2020.
  48. ^ Burke, Minyvonne (December 23, 2020). "Fox Business host Maria Bartiromo interviewed animal activist posing as Smithfield Foods CEO". NBC News. Archived from the original on January 11, 2021. Retrieved April 4, 2021.
  49. ^ Goldman, David (December 23, 2020). "Fox News' Maria Bartiromo thought she was interviewing the CEO of Smithfield Foods. It was an impostor". CNN. Retrieved April 12, 2021.
  50. ^ Breuninger, Kevin (December 14, 2020). "Election tech company Smartmatic demands retractions from Fox, Newsmax, OAN over conspiracy theories". CNBC. Retrieved March 25, 2021.
  51. ^ Barr, Jeremy (December 19, 2020). "Lou Dobbs debunks his own claims of election fraud — after a legal demand from Smartmatic". Washington Post. Retrieved December 22, 2020.
  52. ^ "Lou Dobbs Airs Stunning Fact-Check of His Own Election Claims". Mediaite. December 18, 2020. Retrieved December 22, 2020.
  53. ^ "Maria Bartiromo Airs Fact-Check, Adds 'We Will Keep Investigating'". Mediaite. December 20, 2020. Retrieved December 22, 2020.
  54. ISSN 0362-4331
    . Retrieved February 4, 2021.
  55. ^ Stelter, Brian; Darcy, Oliver (February 5, 2021). "Fox Business suddenly cancels 'Lou Dobbs Tonight,' its highest-rated show". CNN. Retrieved February 6, 2021.
  56. ^ "Broadcasting Regulatory Policy CRTC 2009-202". Crtc.gc.ca. April 20, 2009. Retrieved November 24, 2011.
  57. ^ "Foxtel adds Business Channel". Tvtonight.com.au. November 1, 2007. Retrieved November 24, 2011.
  58. ^ "FOX Business Unveils the FOX 50". Fox Business. Archived from the original on October 16, 2007.
  59. ^ "Changes to the FOX 50: Hewlett-Packard, Wells Fargo In, Anheuser-Busch, Merrill Lynch Out". Fox Business. Archived from the original on November 17, 2009.
  60. ^ "The FOX50 Welcomes Five New Stocks". FOXBusiness. March 26, 2015. Retrieved March 24, 2021.
  61. ^ Gunnison, Liz (October 16, 2007). "Fox's 50, Maybe Not so Nifty". Portfolio.com. Retrieved November 24, 2011.

External links