News Corp. Budgets $100 Mil For FBC

By Brian 

News Corp’s plans to launch Fox Business Channel “are surprisingly cautious,” Fortune’s Tim Arango reports.

He reveals that “the company plans to spend $100 million in initial capital for the business channel, which is slated to hit the airwaves in October.” By comparison, “News Corp spent $400 million to launch Fox News.”

Also: “The company is in the process of hiring about 300 people to staff the network.”

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