That's the headline atop the story from Reuters' Kenneth Li, reporting the latest from the shareholders' meeting of The News Corporation. And here's the good stuff:
Rupert Murdoch sketched out his plans for the Fox Business Network on Friday, saying he will spend years nurturing the new channel to win over more than half of the business news audience.
The News Corp chairman and chief executive confirmed media reports that his media conglomerate intended to invest $150 million to $200 million over three years in FBN, including about $70 million in fiscal 2008.
Aiming to repeat the success of the Fox News Channel, which unseated CNN as the top cable news network four years after its launch, FBN is part of Murdoch's ambitions to build a global financial media powerhouse in print, the Internet and TV.
"I view FBN's growth in terms of years, not months," he told reporters following News Corp's annual shareholders meeting.
This is all cool, but when The Cable Gamer sees articles such as this, from The Hollywood Reporter, showing that Google is now triple the market cap of the News Corp., she wonders what the future landscape of the media landscape is going to be--and who will be assaulting whom.
