Friday, 19 October 2007

Should Dow Jones pull CNBC ads? I doubt it

Today I read a report on Dow Jones pulling CNBC ads for Fox Business Network debut. CNBC somehow got Dow Jones to sign a contract allowing the cable business news network to buy all the advertising on on Monday, October 15th -- the day that News Corp., the soon to be parent company of Marketwatch, was set to launch its new business network. But Dow Jones pulled the CNBC ads in an apparent attempt to suck-up to Mr. Murdoch.

However, I think Dow Jones really doesnot need worry too much about the CNBC. The Fox Business Network is actually targetting those non-business customers, who just want to understand the basic things of financial market instead of the sophisciated ones. so the two networkws are not really in the same market. Another similar example is Bloomberg and Reuters. People tend to say that Bloomberg poses threat to Reuters, but now the two leading players have gradually developed into different segments of the financial market. I think Murdoch has enough business acumen to understand that it makes no sense to launch another financial channel to compete with CNBC or Bloomberg, which could only result in loss-loss situation. What he is looking at is a niche segment in the financial market.


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