Gasparino denies that tensions at CNBC were a factor in his decision, saying “newsrooms are generally seething places” and he tends to “wear my heart on my sleeve.” But he did issue a warning to his former employer: “My job is to rip the lungs out of the competition for Fox Business Network.”
The LAT‘s Joe Flint talked with FBN EVP Kevin Magee about the hire, which FOX was able to accomplish when Gasparino exercised a window in his CNBC contract.
Gasparino will make his debut on Fox Business next week and will also pop up on the Fox News Channel as well. Terms of Gasparino’s deal were not disclosed, but it is a wee bit north of $1 million a year, people familiar with the contract said.
“I think this is a better platform for him,” said Kevin Magee, executive vice president of Fox Business Network. Asked if Gasparino’s role on Fox Business would be similar to that of CNBC’s hot-shot reporter David Faber, Magee said, “I’m sorry, who’s that?”