) is anthat is owned by theFox News Groupdivision ofFox Corporation. The network discusses business and financial news. Day-to-day operations are run by Kevin Magee, executive vice president ofFox NewsNeil Cavutomanages content and business news coverage. 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.
News Corporationchairman Rupert Murdoch confirmed the launch at hiskeynote addressat the 2007McGraw-HillMedia Summit on February 8, 2007. Murdoch had publicly stated that if News Corporations purchase ofThe Wall Street Journalwent through and if it were legally possible, he would have rechristened the channel with a name that hasJournalin it.However, on July 11, 2007, News Corporation announced that the new channel would be called Fox Business Network (FBN).This name Fox Business Network was chosen overFox Business Channeldue to the pre-existing (though seldom used) legal abbreviation of FBC for the co-owned broadcast networkFox Broadcasting Company.
The channel launched on October 15, 2007.The network is placed on channel 43 in the New York City market in the basic-tier pay-TV package, which is home to theNYSEandNASDAQstock exchanges. It is paired with sister networkFox News Channel, which moved to channel 44 (CNBCis carried on channel 15 onTime Warner Cables New York City area systems).FBN received carriage onCablevisionchannel 106, only available via subscription to itsIO Digital Cablepackage. According to an article inMultichannel News,NBC Universalpaid 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 CNBCs premium channel slot.At the time FBN was carried on Time Warner Cable only on its analog service in New York City (most systems have since switched to digital-only); in other markets, the channels carriage was limited to premiumdigital cablepackages at extra cost.VerizonsFiOS TValso carries the network on its premier lineup (SD channel 117 and HD channel 617).Dish Networkbegan carrying FBN on channel 206 on February 2, 2009. FBN also received carriage onDirecTVchannel 359. As its prominence grew, some providers indeed moved the channel to their basic package, and some have pairedBloomberg Television, CNBC and FBN next to each other as part of genre channel maps.
On May 12, 2008, Fox Business Network revamped its daytime lineup, which included the debut of two new programs,Countdown to the Closing BellandFox 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, andCavutoall moved to the networks new Studio G set. All six of those shows shared the same set in Studio G, which was unveiled onMoney for Breakfastthe same day.
On September 17, 2012, FBN switched to aletterboxedformat on itsstandard definitionfeed; simultaneously, all programs began being shown on itsHDfeed in a full16:9picture format, resulting in the removal of the right-side content wing. The network also debuted new graphics on the same day.
On February 24, 2014,Opening Bell with Maria Bartiromodebuted on FBN in the 9 a.m. ET timeslot, replacing the final 20 minutes ofImus in the Morning(which itself was truncated from 200 minutes to 180 minutes) and movedVarney & Company(which also expanded to the full 2 hours) down to the 11 a.m. ET time slot.
On May 29, 2015,Imus in the Morningended after a 5-1/2 year run, as Don Imus retired from television, thus resulting in major changes to FBNs daytime programming lineup on June 1, 2015.Best of Imus in the Morning, which aired from 5-6 a.m. ET, was replaced with a new early-morning business program,FBN AM. Maria Bartiromo, whoseOpening Bellprogram was also cancelled on May 29, debuted her own new morning program,Mornings with Maria, in the time slot previously occupied by the aforementionedImus in the Morning(6-9 a.m. ET).Varney & Companywas moved up to the 9:00 a.m. ET time slot and also, was expanded to 3 hours from 9:00 a.m. to noon ET.FBN AMandMornings with Mariawere among the four new programs that debuted on June 1, withCavuto: Coast to CoastandIntelligence Report with Trish Reganbeing the others.
On November 10, 2015, Fox Business Network, along withThe Wall Street Journalhosted 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 livestreaming primary debate in history and beating out the 2015 Super Bowl by 100,000 streams.Fox Business Network hosted its second Republican primary debate on January 14, 2016 in Charleston, South Carolina withNeil CavutoandMaria Bartiromoserving 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.
On December 14, 2017, 21st Century Fox announced it would sell a majority of its assets toThe Walt Disney Companyin a transaction valued at over $52 billion. Fox Business Network was not included in the deal and was spun off to the significantly downsizedFox Corporation, along with theFox Broadcasting CompanyFox News ChannelandFox Sports 1and2.The deal was approved by Disney and Fox shareholders on July 27, 2018 and was completed on March 19, 2019.
On September 29, 2019, Fox Business Network unveiled a new slogan, Investing in You, a new on-air graphics scheme closer in design to one recently adopted by Fox News Channel, and updated digital platforms. The channel also announced the new Friday-night programBarronsRoundtable.
Thehigh definitionsimulcast of Fox Business Network is broadcast in720p. Programming shown on this feed was originally produced in high-definition, but was cropped to a4:3image 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 channelCNBC HDused the enhanced HD format until October 13, 2014, when it was discontinued altogether).
The sidebar graphic was dropped as a result of the networks switch to aformat 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.
Before the network premiered, 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,CNBC.
At a media summit hosted byBusinessWeekmagazine, Rupert Murdoch was quoted as saying CNBC was too negative towards business. They promised to make Fox Business more business friendly.In addition, it was expected that Fox Business would not be poaching a lot of CNBCs 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 CNBCs other staff, including editors, producers and other reporters.
David AsmanMaria BartiromoCheryl CasoneDagen McDowell, andStuart Varneyare anchors for Fox Business Network; they also appear on Fox News Channel. In addition,Brenda Buttnerwas also on the roster on FBN until her passing in 2017.
Other anchors includePeter BarnesTom SullivanJenna LeeNicole PetallidesandCody Willard.Reporters include Jeff Flock (aCNNoriginal),Shibani Joshi(fromNews 12 Westchester), andConnell McShane(fromBloomberg Television).The network also added formerHewlett-PackardCEOCarly Fiorina. In a October 10, 2007 article inDaily Variety, it was reported that Fiorina had signed with Fox Business Network to become a frequent business commentator on the newly formed cable network, intended to be a competitor to theCNBCcable network.Learmonth, Michael (October 10, 2007). Fox cabler signs Fiorina.Daily Variety. p. 4./ref as a contributor to the network.
Dave Ramseyhad a one-hour prime time show, similar in format to his syndicated radio show, until June 2010.Tom Sullivan broadcast hisTom Sullivan Showon the radio, with plans to syndicate the show nationwide with the assistance ofFox News Radio. Adam Shapiro (formerly withClevelandWEWS-TVand New York CitysWNBC) was added to the Fox Business Network to report from the Washington, D.C. bureau. On October 18, 2007, formerCNBCanchorLiz Clamanjoined 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 withWarren Buffett.
In April 2008, Brian Sullivan (no relation to Tom) joined the Fox Business Network, 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.
In September 2009,Don Imusand FBN reached an agreement to carry his show,Imus in the Morning, on Fox Business. The show began airing on October 5, 2009.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 networkRFD-TV.
On December 23, 2009, Alexis Glick left FBN. Announcing that that days episode ofThe Opening Bellwould be her last, she said I know this is not the norm, but I dont believe in abrupt departures.The only reason given by Glick for her departure was that she was leaving to embark on a new venture,but a number of sources have noted that Don Imus new morning show had a significant effect upon Glicks screen time since he signed with the network.
Maria Bartiromo, formerly of CNBC, joined the Fox Business Network as anchor in February 2014. She is reunited with Liz Claman, Melissa Francis and Charles Gasparino, all 3 of whom worked with Bartiromo during her 20-year tenure at CNBC. Trish Regan (another CNBC alum), who was previously at Bloomberg, joined FBN in March 2015.
Most recently, formerUK Independence PartyheadNigel Faragewas announced as a commentator on January 20, 2017, the day ofDonald Trumppresidential inauguration. Farage will provide political analysis for both Fox Business and Fox News.
Fox Business Network has occasionally served as an overflow channel forFox Sportstelecasts in the event of programming conflicts across Fox,Fox Sports 1, andFox Sports 2, particularlycollege football. For instance in 2017, a game betweenBaylorandOklahoma Stateaired on Fox Business due to a weather-delayed game on FS1. It was reported in May 2018 that, following a controversial decision in November 2017 to move the first quarter of aPac-12football game betweenWashingtonandStanfordfrom FS1 to FS2 (which does not have wide carriage) due to aNASCAR Camping World Truck Seriesoverrun, 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.
These reporters are based in New York unless otherwise stated.
On January 4, 2008, theNew York Timesand several other media outlets reported that FBN had registered an average of 6,300 viewers, far below Nielsens 35,000-viewer threshold. The number was so low that neither Nielsen nor FBN were allowed to confirm the number.TheTimesand other media outlets noted the network is less than four months old and only in one-third as many households as isCNBC.
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 FBNs 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 CNBCs over 90 million.
In the fall 2008, FBN was losing to CNBC in the ratings by over 10 to 1.
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 CNBCs 232,000 for the same time span. At this point, FBN was available in about 49 million U.S. homes.
Reports of ratings from the first episode ofImus in the Morningreported 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 networks previous morning show,Money for Breakfast. The program even beat CNBCsSquawk Boxin the time slot.
As of June 2012,Lou Dobbs Tonightwas earning an average of 154,000 viewers on Fox Business Network, ahead of its direct competition (Kudlow & Company) on CNBC.
Retrieved The firstquarterof 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.
As of August 2017, Fox Business had surpassed CNBCs ratings for nine consecutive months, andLou Dobbs Tonightwas 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.
Fox Business has been criticized like CNBCfor the number ofinfomercialsit airs during the overnight hours and particularly on weekends.
On April 20, 2009, theCanadian Radio-television and Telecommunications Commissionapproved Fox Business Network for distribution in Canada;however, it has yet to receive carriage on any subscription-TV providers within that country.
As of July 2011, the channel is carried onSky Italia(a fellowNews Corporationcompany at the time), its first European carriage deal. Fox Business HD was first broadcast inIsraelby cable providerHotin 2015, and it is also carried by Cellcom TV and Partner TV.
In Australia,Sky News Business Channel(subsequently relaunched asYour Moneyin October 2018) havesimulcastFox Business Network during overnight hours since its launch in January 2008,until the channel was closed down in May 2019. The channel was operated byAustralian News Channel Pty Ltd, which was partly owned bySky plcin the United Kingdom (a fellow 21st Century Fox company at the time) until December 2016, whenNews Corp Australia(a fellow Rupert Murdoch company) acquired the Australian broadcaster in its entirety.
Fox Business has put together an industrial index made up of the largest U.S. companies that make the products you know and use every day.This index includes:
Anheuser-BuschandMerrill Lynchwere included in the original index, but each was acquired by other companies in 2008. They were replaced by Wells Fargo and HP.This index is not available to purchase in the form of anindex fundorETF. The fund received criticism from some financial bloggers for putting together an index with so many competing brands (such as FedEx and UPS; McDonalds and Yum! Brands; WalMart, Target and Costco; Apple, Dell and Microsoft; and Coca-Cola and PepsiCo).
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