So when Rupert Murdoch took over the Wall Street Journal and started the Fox Business Network, it seemed like cross-promotional love was in the air. After all, who better to pontificate on FBN than WSJ reporters under the thumb of RM?

Only one problem with this plan: CNBC has an exclusive deal with WSJ reporters through 2012. But we should put exclusive in quotes, because FBN has already figured out a way to get around that.

Kevin Magee, current FBN executive vice president and former CNBC employee announced yesterday that exclusive is kind of a loose term.

“The restrictions involve regularly-scheduled, branded segments. There is a carve-out for non-business news and there is a carve-out for breaking news,” he said the Always On conference.

So for segments, about, say, breaking contracts, theoretically Wall Street Journal reporters can speak on FBN. They'll already have a lot of experience on the matter.