Murdoch tips his hand: Fox Business Channel will be business news for conservatives, forcing CNBC to a presumably smaller, liberal audience 9/19/07Posted by Steve Boriss in CNBC, Fox business channel.
Nobody seemed to notice, but yesterday Rupert Murdoch told us exactly how his new Fox Business Channel (FBC) will replace CNBC as the leading business channel — and it is strikingly similar to how Fox News humbled CNN. To understand it, take this Murdoch quote at face value, “[CNBC] dwells too much on failures and scandals and politics…We want to spend a lot of time on innovation, successes and people who are making money.” Now, take this quote as spin, “CNBC is a financial channel for Wall Street; we’re for Main Street.” Get it?
What Murdoch is saying is that CNBC is the channel of “State-Regulated Enterprise,” i.e. business news through the eyes of a liberal. FBC will be the channel of “Free Enterprise,” business news for conservatives — those who Tina Turner-esquely ask themselves “what’s government got to do with it?” How can business news be liberal, you ask? Columnist Jon Ham nailed it when he wrote, “Except for the advertising, a newspaper reader from another planet would never know there was a private sector” because journalists and their stories identify with the public sector. Ham describes a “standard journalism template that the private sector has questionable motives, i.e., profit, whereas the public sector’s motives are pure, i.e., altruistic.” Sure enough, visit CNBC’s web site on any given day and you’d think that the Federal Reserve and Congress are driving the economy and “Big [Fill-in-a-successful-industry-here]” and the Republican Party are ruining it.
“Fair and balanced” and “Main Street, not Wall Street” are simply code words that mean “for you, not them.” Somehow, conservatives instinctively understand the call of the “Fox.”