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By now, everyone knows that the key to Rupert Murdoch’s bid for Dow Jones — the synergistic centerpiece that makes the whole thing make sense — is his plan to integrate the Wall Street Journal with his new Fox Business Channel. But let’s step back and learn a little more about this forthcoming CNBC rival. A report in Fortune sheds some timely light on the cable channel, and, as it turns out, the thing looks surprisingly, um, budget-conscious. Insiders tell Fortune that News Corp. has set aside $100 million in initial capital. For comparison, that’s a quarter of the sum Murdoch put up for Fox News — and that was more than a decade ago. Talent-wise, News Corp. appears to be hiring about 300 people, also a very modest number. Of course, one can understand Rupe’s wariness: It’s a field littered with failures (CNNfn and the Financial News Network come to mind). But Murdoch has gone up against tough odds before — but you know the Bancrofts will be just thrilled to learn their crown jewel is set to be paired with a cubic zirconium.
A Cable Network On a Shoestring [Fortune via CNNMoney]
