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So, does the debut of the Fox Business Channel signify a top? They'll report. The market will decide.

Postscript: Ailes and company have described the rationale for a new business channel by noting that the field's dominating presence—CNBC—isn't sufficiently pro-business. Of course, CNBC already offers something like a Fox News version of economic and political coverage. Anchors parrot corporate America's preferred line on trade and taxes, sneer at Europeans, and routinely refer to Hillary Clinton as a socialist. It's nearly impossible to find centrists on-air, let alone left-wingers. Saying America needs Fox Business Channel because CNBC isn't sufficiently pro-capitalist is a little like saying Boston needs a new baseball team because the Red Sox aren't a sufficient object of local obsession. I'm sure there are much better metaphors/analogies to describe the purported need for a new entrant in a market to provide balance to the dominant force—by going even further over the edge. Please send yours to moneybox@slate.com. We'll run the best.

© 2007

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  • Posted By: Philadelphia @ 10/24/2007 12:33:44 PM

    Hopefully your "big media play" theory is true as it would surely spell the end for the housing devaluation.

  • Posted By: D Dubb @ 10/24/2007 8:59:23 AM

    There is a reason that FOX NEWS has double the viewers of CNN and MSNBC is practically out of the viewers picture altogther. Also that Bill O'Reilly has more viewers than the two of them combined. I have no doubt FOX Business will take over the larger percentage of viewers in its market also. It's not GOP talking points Mr. Gross, it's honesty in reporting whatever the subject may be. I get that from FOX far more than I get that from CNN, MSMBC or Newsweek for that matter. The left-leaning press in this country should take note, but I serously doubt they will, FOX is successfull BECAUSE they have a more balanced approach to reporting. Other news outlets really should stay closer to the center of an issue, where most of America lives. Radicals on both sides may be the loudest, but most people live in the center.

  • Posted By: Person of Interest @ 10/23/2007 1:56:56 PM

    Looks to me as if only libs comment, per usual. They never can keep their mouths shut, never offer ideas for progress - and think that "good people" are the ones fighting back in Iraq.
    Let me put something together for you which Mr. Gross has missed:
    Why do you think CNN now airs Glenn Beck? Because their liberal viewpoints are LOSING badly to FOX.
    People have already become tired of listening to liberals whining about health insurance for the children, while conservatives simply feel that "your children are not MY responsibility"...

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