NEW YORK | Mon Oct 17, 2011 7:49pm EDT By Peter Lauria
Exclusive: Memo to Fox _Business_ staff - don't copy Fox News
"... Here's a novel idea: Fox Business Network should focus on covering business news.
At least that's what Kevin Magee, executive vice president of the News Corp-owned cable news network, is urging his staff to do.
Unhappy with Fox Business' focus on politics, Magee fired off a memo to employees reminding them that the network was not created to be a light version of its sister Fox News Channel.
"I've been asked to remind you all again that they are separate channels and the more we make FBN look like FNC the more of a disservice we do to ourselves," Magee said in the memo dated October 5, carrying the subject line "Fox News and Fox Business."
"I understand the temptation to imitate our sibling network in hopes of imitating its success, but we cannot," Magee went on to say in the memo. "If we give the audience a choice between FNC and the almost-FNC, they will choose FNC every time. Earnings, taxes, jobs etc give us PLENTY to chew on." ........
In an interview with Reuters on Monday, Magee confirmed sending the memo and said that heading into the U.S. presidential election next year it was worth restating the importance of Fox Business finding its own voice and audience.
"There is always going to be overlap between economics and politics, but we need to maintain two separate services," Magee said. "We can cover the political angle, but our focus should be on our charter of gaining and producing wealth." .....
Magee said he decided to send the memo after a conversation with Roger Ailes, chairman and CEO of Fox News Channel and chairman of the Fox television stations group. Ailes ran CNBC until 1996.
"Rupert wants a competing news network to CNBC, not another Fox News," said a person familiar with the matter who spoke on condition of anonymity. "Right now it's obvious they don't cover enough financial news." "
Are they going to fire Imus?
“The reason his show was suspended on the Fox BUSINESS (hint) channel, was because his show was _politically_ focused:”
Well. That makes some sense to me.
HOWEVER, I believe David Asman’s Power and Money show was also cancelled on FBN along with Bolling’s Follow The Money. These were “BUSINESS” shows, so I’ll have to call BS on this excuse memo.