Start Freaking Out, CNBC: Fox Business News Starts Today
 

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Good news business programming lovers: Fox Business News starts today. And you what that means: A long piece in Fortune magazine.

Since it’s Monday and you’re busy looking at Facebook pictures from the weekend, here’s what you need to know:

• Small business owners are the target audience. And to appeal to them, FBN is running “Main Street” stories, like the cost of scalped tickets for a Hannah Montana concert. Because really, what else would the owner of a hardware store care about?

• The hosts of Bull & Bear, one of the FBN’s new shows, have a business-jargon swear jar. $2 for phrases like “basis point” is pretty reasonable considering what the FCC will charge them for saying any real swears.

• Roger Ailes watches soap operas, and said he would like to hire the actors: "They have those hot girls, but some of those guys, if I could turn them into anchors, that would be great.” Experience is just another form of elitist credibility; real business owners just care about looking at attractive people.

• If you haven’t had Rupert Murdoch for a boss yet, you will probably will soon. Tim Arango, who wrote the story, worked for the Post for four years, and FBN approached him for a job while he was reporting this story.

• FBN will launch with 30 million subscribers, about a third of CNBC’s base. Fox News already has the top five business shows on the air.

• CNBC has an exclusive content-sharing agreement with Dow Jones, which it pays somewhere under $100 million for. Murdoch says the contract will run its course until 2012, but it’s likely that the Wall Street Journal will reduce its presence on CNBC to force the channel to renegotiate the contract. In the meantime, the deal has let Fox and Dow Jones executives sit in on CNBC programming meetings.

• CNBC hasn’t admitted to themselves how screwed they are: “We want to be popular but not populist,” network president Mark Hoffman says.

Fortunately for FBN, even if that plan works, they will have been sitting in on the meeting where the strategy was developed.

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