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Fox Business (officially known as Fox Business Network, or FBN) is an American conservative business news channel and website publication owned by the Fox News Media division of Fox Corporation. The channel broadcasts primarily from studios at 1211 Avenue of the Americas in Midtown Manhattan. Launched on October 15, 2007, the network features trading day coverage and a nightly lineup of opinion-based talk shows.
Day-to-day operations are run by Kevin Magee, executive vice president of Fox News; Neil Cavuto was the vice president and managing editor for the network and business news operation overall.
As of February 2015, Fox Business Network is available to approximately 74,224,000 pay television households (63.8% of households with television) in the United States.
Before the network launched, few specific facts were made public as to the type of programming approach Fox Business would be taking. However, some details emerged as to how it would differentiate itself from its main competitor, CNBC. At a media summit hosted by BusinessWeek magazine, Rupert Murdoch was quoted as saying CNBC was too "negative towards business". They promised to make Fox Business more "business friendly". In addition, it was expected that Fox Business would not be "poaching" a lot of CNBC's on-air talent in the immediate future, as most key on-air personalities had been locked into a long-term contract. However, that still left open the possibility of the network taking some of CNBC's other staff, including editors, producers and other reporters.
The channel launched on October 15, 2007. The network is placed on channel 43 in the New York City market in the basic-tier pay-TV package, which is home to the NYSE and NASDAQ stock exchanges. It is paired with sister network Fox News Channel, which moved to channel 44 (CNBC is carried on channel 15 on Time Warner Cable's New York City area systems). FBN received carriage on Cablevision channel 106, only available via subscription to its IO Digital Cable package. According to an article in Multichannel News, NBCUniversal paid up to "several million dollars" in order to ensure that CNBC and Fox Business would be separated on the dial, and in order to retain CNBC's "premium" channel slot. At the time FBN was carried on Time Warner Cable only on its analog service in New York City (most systems have since switched to digital-only); in other markets, the channel's carriage was limited to premium digital cable packages at extra cost. Verizon's FiOS TV also carries the network on its premier lineup (SD channel 117 and HD channel 617). Dish Network began carrying FBN on channel 206 on February 2, 2009. FBN also received carriage on DirecTV channel 359. As its prominence grew, some providers indeed moved the channel to their basic package, and some have paired Bloomberg Television, CNBC and FBN next to each other as part of 'genre' channel maps. On November 10, 2015, Fox Business Network, along with The Wall Street Journal hosted its first Republican presidential primary debate, setting a ratings record for the network with 13.5 million viewers. The debate also delivered 1.4 million concurrent streams, making it the most watched livestreaming primary debate in history and beating out the 2015 Super Bowl by 100,000 streams. Fox Business Network hosted its second Republican primary debate on January 14, 2016, in Charleston, South Carolina with Neil Cavuto and Maria Bartiromo serving as moderators. Both of these primetime debates also included earlier debates featuring presidential candidates who were not ranked as highly in the national polls as well as those based in Iowa or New Hampshire.'']]On December 14, 2017, 21st Century Fox announced it would sell a majority of its assets to The Walt Disney Company in a transaction valued at over $52 billion. Fox Business Network was not included in the deal and was spun off to the significantly downsized Fox Corporation, along with the Fox Broadcasting Company, Fox News Channel and Fox Sports 1 and 2. The deal was approved by Disney and Fox shareholders on July 27, 2018, and was completed on March 19, 2019.
On September 29, 2019, Fox Business Network unveiled a new slogan, "Investing in You", a new on-air graphics scheme based on one recently adopted by Fox News Channel, and updated digital platforms. The channel also announced the new Friday-night program Barron's Roundtable.
Other anchors include Peter Barnes, Tom Sullivan, Jenna Lee, Nicole Petallides and Cody Willard. Reporters include Jeff Flock (a CNN "original"), Shibani Joshi (from News 12 Westchester), and Connell McShane (from Bloomberg Television). The network previously had former Hewlett-Packard CEO Carly Fiorina (a 2016 presidential candidate) as a contributor.
Dave Ramsey had a one-hour prime time show, similar in format to his syndicated radio show, until June 2010. Tom Sullivan broadcast his Tom Sullivan Show on the radio, with plans to syndicate the show nationwide with the assistance of Fox News Radio. Adam Shapiro (formerly with Cleveland's WEWS-TV and New York City's WNBC) was added to the Fox Business Network to report from the Washington, D.C. bureau. On October 18, 2007, former CNBC anchor Liz Claman joined the Fox Business Network as co-anchor of the 2-3 p.m. portion of the dayside business news block with David Asman. Her first assignment for FBN was an interview with Warren Buffett.
In April 2008, Brian Sullivan (no relation to Tom) joined FBN, coming over from Bloomberg Television. Sullivan, who reunited with his Bloomberg colleague Connell McShane, anchored the 10 a.m.-12 p.m. portion of the business news block with Dagen McDowell.
On May 12, 2008, Fox Business Network revamped its daytime lineup, which included the debut of two new programs, Countdown to the Closing Bell and Fox Business Bulls & Bears. On April 20, 2009, Money for Breakfast, The Opening Bell on Fox Business (both hosted by Alexis Glick), The Noon Show with Tom Sullivan and Cheryl Casone, Countdown to the Closing Bell, Fox Business Bulls & Bears, and Cavuto all moved to the network's new Studio G set. All six of those shows shared the same set in Studio G, which was unveiled on Money for Breakfast the same day.
In September 2009, Don Imus and FBN reached an agreement to carry his show, Imus in the Morning, on Fox Business. The show began airing on October 5, 2009. Fox had previously been in negotiations with Imus to bring his show to the network. In November 2007 (when Imus was just returning to radio, and Fox Business was just starting), negotiations fell through and Imus instead signed with rural-oriented network RFD-TV.
On December 23, 2009, Alexis Glick left FBN. Announcing that that day's episode of The Opening Bell would be her last, she said "I know this is not the norm, but I don't believe in abrupt departures." The only reason given by Glick for her departure was that she was leaving to "embark on a new venture," but a number of sources have noted that Don Imus' new morning show had a significant effect upon Glick's screen time since he signed with the network. Daily Finance
On November 10, 2010, FBN announced that former CNN anchor Lou Dobbs would join the channel. His program, Lou Dobbs Tonight, moved to FBN in March 2011.
On February 24, 2014, former CNBC host Maria Bartiromo moved to FBN, where she would host Opening Bell with Maria Bartiromo, and become a Fox News contributor.
In April 2015, it was reported that Fox Business would drop the Imus in the Morning simulcast, as Imus was planning to move from New York City to Texas. On May 11, the network officially announced a new daytime lineup that would begin June 1; FBN AM would air from 5-6 a.m. ET, and Bartiromo moved to the 6-9 a.m. ET timeslot formerly held by Imus to host Mornings with Maria. Varney & Company was moved up to 9 a.m. and expanded to three hours, Neil Cavuto would host the new midday program Cavuto: Coast to Coast, and Trish Regan (moving from Bloomberg Television) would host the new afternoon program The Intelligence Report, and Melissa Francis moved to co-anchor After the Bell alongside David Asman.
Former UK Independence Party head Nigel Farage was announced as a commentator on January 20, 2017, the day of Donald Trump's presidential inauguration. Farage will provide political analysis for both Fox Business and Fox News.
Occasional scheduled sports programming began airing on Fox Business in 2025. That year, Fox Business aired a MotoGP race (the Grand Prix of Argentina), second-round coverage of a LIV Golf League event in Virginia, and horse racing from Saratoga Race Course on Labor Day weekend.
In July 2008, Nielsen estimated that FBN averaged 8,000 viewers per daytime hour and 20,000 per prime time hour, compared to 284,000 and 191,000 (respectively) for CNBC. Because FBN's viewership remained low, Nielsen had difficulty estimating viewership, and the estimates are not statistically significant. At the time, FBN was available in approximately 40 million homes to CNBC's over 90 million."Business Is Slow for Fox Channel." "Financial News Outlet Continues to Lag Far Behind CNBC" The Washington Post. July 26, 2008. Retrieved on January 23, 2009.
In the fall 2008, FBN was losing to CNBC in the ratings by over 10 to 1."Business Is Slow for Fox Channel." Financial News Outlet Continues to Lag Far Behind CNBC. The Washington Post. July 26, 2008. Retrieved on January 23, 2009.
By June 2009, showed FBN with an average of 21,000 viewers between 5 a.m. and 9 p.m., still under the Nielsen threshold, and less than 10% of CNBC's 232,000 for the same time span. At this point, FBN was available in about 49 million U.S. homes.Schechner, Sam and Sarah McBride. "Fox Business in Talks With Imus Over Show". The Wall Street Journal. August 18, 2009. Retrieved August 26, 2009.
Reports of ratings from the first episode of Imus in the Morning reported an average of 177,000 viewers (and a peak of 202,000 in the 7:00 a.m. hour) in the time slot, mostly over the age of 65; this was a more than tenfold increase compared to the network's previous morning show, Money for Breakfast. The program even beat CNBC's Squawk Box in the time slot.Krakauer, Steve (October 6, 2009). "Has Fox Business Found Its Star? Imus Premiere Gets Strong Ratings". Retrieved 2009-10-08.
In 2012, Lou Dobbs Tonight was challenging CNBC's Larry Kudlow, earning 141,000 total viewers on Fox Business Network.
The first fiscal quarter of 2016 had FBN experience its strongest ratings in its history with day programming up 111 percent in total viewers and 130 percent in the key age 25 to 54 demographic, compared to a year before.
As of August 2017, Fox Business had surpassed CNBC's ratings for nine consecutive months, and Lou Dobbs Tonight was the most-watched program in business news. CNBC announced in 2015 that it would no longer rely on Nielsen ratings to measure its daytime audience, turning to rival Cogent Reports instead.
On December 23, 2020, Mornings with Maria aired an interview with a person who claimed to be Smithfield Foods CEO Dennis Organ, but was actually an animal rights activist from Direct Action Everywhere, warned that the meat packing industry could "effectively bring on the next pandemic". Bartiromo issued a correction at the end of the show, admitting that they had been "punked".
On February 4, 2021, Smartmatic filed a $2.7 billion lawsuit against Fox News Media for defamation, specifically naming Bartiromo, Dobbs, and Pirro. The next day, Fox Business abruptly canceled Lou Dobbs Tonight.
As of July 2011, the channel is carried on Sky Italia (a fellow News Corporation company at the time), its first European carriage deal. Fox Business HD was first broadcast in Israel by cable provider Hot in 2015, and it is also carried by Cellcom TV and Partner TV.
In Australia, Sky News Business Channel (subsequently relaunched as Your Money in October 2018) simulcast Fox Business Network during overnight hours since its launch in January 2008, until the channel was closed down in May 2019. The channel was operated by Australian News Channel Pty Ltd, which was partly owned by Sky plc in the United Kingdom (a fellow 21st Century Fox company at the time) until December 2016, when News Corp Australia (a fellow Rupert Murdoch company) acquired the Australian broadcaster in its entirety.
In Central America, the Dominican Republic and the Caribbean, Fox Business is carried by Central American, Dominican and Caribbean TV operators. In Costa Rica, Fox Business is available for streaming on the Fox News International mobile application and the channel is carried by Costa Rican TV operators.
In Mexico, Fox Business is available for streaming on the Fox News International mobile application and the channel is carried by Mexican TV operators.
In Spain, Fox Business is available for streaming on the Fox News International mobile application and the channel is carried by other Spanish TV operators.
In the United Kingdom, Fox Business is available for streaming on the Fox News International mobile application.
The sidebar graphic was dropped as a result of the network's switch to a letterboxed format on September 17, 2012, ending the enhanced HD format altogether. The enhanced ticker and headlines, which were previously seen in the old sidebar graphic, were moved to the lower-third of the screen. Both the SD and HD feeds now use the same exact 16:9 letterbox format, just like its other Fox-owned sister networks.
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Anheuser-Busch and Merrill Lynch were included in the original index, but each was acquired by other companies in 2008. They were replaced by Wells Fargo and HP. In March 2011, CBS Corporation, Charles Schwab Corporation, Lowe's, Sprint Nextel, and Yahoo! were removed, and replaced by DuPont, Ford, JPMorgan, Pfizer, and UnitedHealth Group. This index is not available to purchase in the form of an index fund or ETF. The fund received criticism from some financial bloggers for putting together an index with so many competing brands (such as FedEx and UPS; McDonald's and Yum! Brands; WalMart, Target and Costco; Apple, Dell and Microsoft; and Coca-Cola and PepsiCo).
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