Fox Business Launches and Seems a Bit Like...CNBC

I just spent half an hour watching Fox Business News today and it could have been CNBC. It looked remarkably like its more established rival. The set was business-like, the anchors were well coiffed and poised, the segments were business-like. There were a few gaffes and attempts to distinguish itself.

They did a segment on Medtronic and the reporter Tracy Byrnes sounded a bit like a deer in the headlights. She stated that she would never invest in biotech because of the risk of litigation, which is like saying you'll never become a doctor because you're afraid of malpractice. Sorry honny, but that's simply a cost of doing business. You factor it in and go on. An astute investor calculates the risk of a lawsuit or its potential damage and then decides if the stock is under or overvalued. Blanket statements like that have no place from a business correspondent.

They also brought Niger Immis, an African-American counterpoint to Al Sharpton and Jesse Jackson, and showing Fox's more conversative roots. They discussed Imus and whether he should be brought back onto the air. Immis seemed to be more bothered by Sharpton's involvement in the whole situation than anything Imus may have said.

And I think that's the challenge this station is going to face. Fox News thrived because its conservative commentary worked with news and politics. But it seems much less relevant in the business world. With a set, reporters, stories, and ticker that looks like CNBC, Fox Business News is going to need more than a righty political bent to make it more competitive.  It also remains to be seen if it can attract a personality like Jim Cramer, who love him or hate him, brings in the viewers. 

It will be interesting to see how Murdoch develops the channel.