Thomson-Reuters Putting CNBC, Fox Business Network in Their Sights

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Being of the opinion that cable news providers like CNBC, Fox Business Network, and Bloomberg TV have shifted focus too much in the direction of entertainment over utility, wire service Thomson-Reuters has discovered a new niche for itself. It's set to launch Reuters Insider, a financial-video service that will be integrated into their desktop product, according to the Journal. The goal will be to stream some 2,000 shows per week to their half a million financial-services industry customers, using their own journalists and journalists from partner agencies. While executives say they don't mean to compete directly with the cable financial-news outlets, this will expand their scope beyond that of, say, traditional competitor Dow Jones. Still, this is set to be a no-frills operation: Segments will be on and off within three to five minutes, with no introductions, and production quality will be "on the low end for television." Onion News Network, watch out.

Thomson Reuters to Add Financial Video Service [WSJ]