Fox Business Channel to be launched later this year

News Corp. has announced that their upcoming Fox Business television channel would be launched in the fourth quarter of the year.

The company claims that this channel would be available to at least 30 million homes at the time of launch.

This upcoming channel from Fox would directly take on the market leader CNBC in the lucrative financial news market.

News Corp said that this channel would be developed and overseen by Fox News Channel/Fox Television chairman and CEO Roger Ailes.

Company chief Rupert Murdoch said in a statement that this channel would be “a little more business friendly” than CNBC. He further claimed about the channel’s programming: “Everything we do, CNBC immediately will copy. … Perhaps not everything.”

A CNBC representative spoke about this emerging competition in the market: “Bring it on. We welcome the competition, if it ever shows up.”

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