October Start Is Set for Fox Business Network

New York Times - United States - The News Corporation announced yesterday that its all-business news cable channel, to be called the Fox Business Network, will start on Oct. 15.

The channel, which the company has previously said would be capable of reaching 30 million homes on its first day, will be based in the Manhattan headquarters of the Fox News Channel.

Neil Cavuto, the Fox News program host who is the managing editor for business news at Fox, made the announcement.

“I’m extremely excited to be part of such a dynamic venture, and I look forward to building on the success of our existing top five business programs in cable news,” Mr. Cavuto said.

The channel will be a third competitor in the field of business news channels, taking on the leader, CNBC, which is managed by NBC Universal and owned by General Electric, and Bloomberg Television.

Kevin Goldman, a spokesman for CNBC, said his channel would enjoy a wide advantage in distribution. “CNBC is in over 90 million homes in the U.S.,” he said, adding that it also has worldwide distribution to about 340 million homes. But he said the channel had “never underestimated any competition.”