Fox Biz: Murdoch’s Vanity Project?

In a piece titled “Why Murdoch wants the WSJ,” The Economist has something interesting to say about Fox Biz:

“Yet the new business channel is a risky launch that has generated little enthusiasm within News Corp, where it is seen by some top executives as Mr Murdoch’s vanity project. He has apparently spotted a lucrative niche for a pro-business channel, much as his Fox News channel found plenty of viewers who prefer its ‘fair and balanced’ coverage of politics to the bleeding liberal hearts of CNN.

But CNBC, America’s incumbent business channel, is hardly anti-business, and it is far more in tune with what viewers want (namely, accurate information about the things affecting their investments) than CNN was when Mr Murdoch launched Fox. Moreover, Dow Jones has a contract to supply content to CNBC until 2012, by which time the fate of Mr Murdoch’s rival channel will surely have been decided.”

Here’s the full essay…