The Economist makes a good point today. Why, if CNBC is distributed into 90 million homes and the fledgling Fox Business Network has only barged its way into 30 million, is the old network so worried? CNBC is already doing what FBN claims it will try to newly achieve — that is, bringing business news to the common man and taking a pro-business approach. Since both FBN and CNBC were shepherded into life by Roger Ailes himself, Fox will obviously face a major problem differentiating itself, let alone improving upon the formula. But will that even matter? As the mag points out, a rising stock market tends to be good for ratings, and the Dow Jones Industrial Average is at a new record high. Plus, the subprime crisis in August gave CNBC its best numbers in half a decade. If that all continues, there might be enough demand for both networks to flourish. Now that wouldn’t be any fun, would it?
A New Business Channel Takes on General Electric’s CNBC [The Economist]