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MediaBuyerPlanner: The long-anticipated Fox Business Network will launch on Oct. 15 with 30 million subscribers, News Corp. has announced.
The channel is headquartered in midtown Manhattan and has established bureaus in Chicago, Los Angeles, San Francisco, Washington, D.C., and London, writes MediaPost.
Kevin Magee, executive vice president of Fox News, will oversee the channel's day-to-day operations, while Neil Cavuto will oversee editorial decisions. Cavuto will also have a large on-air presence.
The channel will be a direct challenge to market leader CNBC, writes Forbes. Another rival, CNN, attempted to launch a financial news channel which was cancelled in 2004 due to lack of advertiser and cable operator support.
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