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Fox Business Channel to debut in fourth quarter

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New York—The Fox Business Channel will make its debut in the fourth quarter, News Corp. executives announced Thursday. Company Chairman-CEO Rupert Murdoch said the new channel will take a more “business-friendly” approach than rival CNBC. Roger Ailes, chairman-CEO of Fox News, will oversee the new channel, which will roll out in major markets throughout the country, including New York. Ailes said the channel already has 30 million subscribers under contract through distribution agreements with cable operators. Neil Cavuto, managing editor for business news at Fox, will oversee the channel’s content and be its chief anchor. Murdoch said at a news conference that the channel would cover business scandals but would not “leap” on them the way he said CNBC does. —Matthew Schwartz
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