Tag Archives: Fox Business Network
NYT continues to eschew CNBC explanation
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TALKING BIZ NEWS EXCLUSIVE
In late September, Talking Biz News wrote about how the New York Times was not notifying its readers of its relationship with CNBC when it wrote about the business news network.
Our analysis discovered that since the content sharing agreement with CNBC was announced on Jan. 7, 2008, the Times has run 389 articles mentioning CNBC. Of those, there were 42 that were either about or significantly mentioned CNBC. Of those, 35 stories did not disclose the paper’s relationship with CNBC.
Business editor Larry Ingrassia explained at that time that the paper would only include the relationship in a story if it was necessary to the reader’s understanding, such as if it was reporting about the competition between CNBC and Fox Business.
Since that time, however, the Times has written at least two stories that make mention of CNBC and Fox Business without mentioning the business deal between the Times and CNBC.
The most-recent occurred last week, when it wrote about Fox Business hiring Charles Gasparino, who left CNBC to join the two-year-old competitor.
Back in October, the Times also wrote about the CNBC’s documentaries, and the story mentioned how they were criticized by Fox Business Network.
Gasparino wants to "beat the hell out of the competition"
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Joe Flint of the Los Angeles Times talked to new Fox Business Network senior correspondent Charles Gasparino and his boss, executive vice president Kevin Magee, about his switch from CNBC.
Flint writes, “Gasparino, 47, said he was leaving General Electric Co.’s CNBC for the upstart Fox Business Network because he ‘wants to be part of something that could do something great.’ He said that he wants to be part of something new. Though he harbors no ill will toward CNBC, he did say his job at Fox Business is to ‘beat the hell out of the competition.’ Asked why he hadn’t been on CNBC’s air since early December, he said, ‘I was trying to figure out whether I wanted to stay or go.’
“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?’”
Read more here.
Why Gasparino left CNBC
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Joe Weisenthal of The Business Insider reports Tuesday about the talk at business news network CNBC as to why reporter Charles Gasparino left. It was announced Tuesday that he had signed a dela with Fox Business Network.
Weisenthal writes, “In particular, the fact that Gasparino left CNBC without an official deal with a rival network being announced is taken as evidence that Gasparino might not have left willingly.
“That is decidedly a minority view, however. Two people we spoke with said that they think Gasparino might have been dissatisfied with his contractual arrangements with CNBC.
“‘Charlie felt like he was over-producing during the crisis. He felt like there could have been better recognition of his role,’ a person familiar with the matter said. ‘He signed his contract before the crisis. He was like a pitcher who signs up then throws a bunch of no-hitters. He wanted a better deal.’
“‘He wanted to do his book thing,’ another person said. Gasparino is reportedly working on a new book. His last, The Sellout, made it on to the New York Times bestseller list.”
Read more here. Talking Biz News hears that his departure from CNBC was a mutual agreement, although his contract had not expired.
Gasparino signs with Fox Biz, debut is next week
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As expected, former CNBC Wall Street reporter Charles Gasparino has signed a multi-year deal with Fox Business Network and will begin appearing on that business news channel starting next Monday, Feb. 22.
Gasparino will serve as a senior correspondent, appearing across all programming to provide market updates and breaking news reports.
“We are tremendously excited to have Charlie join the Fox Business family,” said executive vice president Kevin Magee in a statement. “His breaking news reports during the most recent economic crisis have proved invaluable and we look forward to adding his in-depth reporting to the network.”
Gasparino was the on-air editor at CNBC. He previously worked for Newsweek magazine, The Wall Street Journal, Bond Buyer, The Tampa Tribune and other publications.
While at The Journal, Gasparino was nominated for the Pulitzer Prize in beat reporting in 2002 and won the New York Press Club award for best continuing coverage of the Wall Street research scandals. In 2003, he was nominated as part of a team of reporters for the paper’s coverage of the New York Stock Exchange, and the resignation of its former chairman, Richard Grasso.
Gasparino is the author of the book, “Blood on the Street,” which was a BusinessWeek bestseller and was listed by Barron’s as one of the best business books of 2005. Another book, “King of the Club: Richard Grasso and the Survival of the New York Stock Exchange,” about the New York Stock Exchange and Grasso, published in November 2007 by HarperCollins received rave reviews and was named by the Library Journal as one of the best business books of 2007.
Gasparino leaves CNBC; is Fox Biz next?
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Peter Lauria of the New York Post has more on Charles Gasparino, including a confirmation from a CNBC representative that he has left that business news network.
Lauria writes, “A Fox Business representative further confirmed that the network is in talks with Gasparino. News of Gasparino’s leaving CNBC to join Fox Business was first reported by the Web site TVNewser. (Fox Business, like The Post, is owned by News Corp.)
“Gasparino’s would mark the third high-profile hire by Fox Business in the last few months, following the luring of Don Imus and John Stossel to the network. Though he lacks the national profile of Imus or Stossel, Gasparino is one of the most recognizable faces in television business news, and his joining Fox Business will be a major coup for the nascent network.”Fox Business has struggled to gain traction with viewers since its October 2007 launch, regularly getting beaten in the ratings by CNBC. That’s to be expected given that CNBC is distributed to 97 million homes — more than twice as many as Fox Business.
“Having someone capable of scooping the competition on big Wall Street stories, however, could help Fox Business gain momentum and siphon viewers from CNBC and Bloomberg.
Gasparino going to Fox Business?
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Chris Ariens of TVNewser reports Sunday evening that CNBC‘s Charles Gasparino is expected to move over to its main competitor, Fox Business Network.
Ariens reports, “Gasparino, who has broken some of the biggest financial news stories both before and during this current crisis, hasn’t appeared on CNBC for several weeks. He’s also had some publicized on-air dust-ups with his CNBC colleagues, including this one with Dennis Kneale and this one with former CNBC anchor Dylan Ratigan.
“Gasparino made an appearance on Fox News a few months ago promoting his new book ‘The Sellout.’
“Before joining CNBC, Gasparino was a senior writer at Newsweek.
“We hear Gasparino’s deal is not yet signed. Still, an official announcement is expected sometime this week.”
Read more here. While at The Wall Street Journal, Gasparino was nominated for the Pulitzer Prize in beat reporting in 2002 and won the New York Press Club award for best continuing coverage of the Wall Street research scandals. In 2003, he was nominated as part of a team of reporters for the paper’s coverage of the New York Stock Exchange, and the resignation of its former chairman, Richard Grasso.
Gasparino has won numerous business journalism awards, and he is the author of the book, “Blood on the Street,” which was a BusinessWeek bestseller and was listed by Barron’s as one of the best business books of 2005. Another book, “King of the Club: Richard Grasso and the Survival of the New York Stock Exchange,” about the New York Stock Exchange and Grasso, published in November 2007 by HarperCollins received rave reviews and was named by the Library Journal as one of the best business books of 2007.
Why Davos is a must for biz reporters
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TALKING BIZ NEWS EXCLUSIVE
Fox Business Network anchor Liz Claman has been in Davos, Switzerland, this week covering the World Economic Forum.
The annual meeting is taking place Jan. 27 through Jan. 31 and features 2,500 leaders from more than 90 countries addressing current challenges and future risks in the global economy.
Claman began reporting live on Wednesday morning with interviews and commentary from industry leaders such as NYSE CEO Duncan Niederauer; Rich Gelfond, CEO of Imax; and Jim Turley, Chairman and CEO of Ernst & Young.
Claman talked to Talking Biz News on Friday via e-mail about covering the event. What follows is an edited transcript.
1. Why do so many business journalists cover Davos?
You get an amazing bang for your buck at Davos. Major business leaders AND policy makers are all in one place. Where else can you interview industry titans from around the globe along with world leaders? It’s a correspondent’s dream and most people here are very serious about global discourse. It’s my first year, and while I haven’t had a minute to breathe, I find it fascinating.
2. How do you make your coverage stand out from others filing stories about the same events?
Fox Business has always focused on doing business news differently. We’re not interested in being an “analyst’s call on television.” If you want black and white balance sheet numbers, you can find that anywhere. But with me I’m way more interested in the less obvious. Of course we are doing dozens of one-on-one interviews but I was asked to moderate a panel last night (Thursday) on renewable energy stimulating global economies and I brought a camera crew to grab people more informally.
We ended up asking Mike Splinter of Applied Materials, Jim Rogers of Duke Energy, Laura Tyson, formerly of the Clinton Administration and now a UC Berkeley professor, along with Tom Friedman of the New York Times about what each one of them gets out of Davos. Jim Rogers, a big CEO from the South, was so excited about what he learns here, telling me it was ideas he heard here at Davos 10 years ago that helped him transform his utility giant into a more clean tech company.
3. Are there chances to get exclusives at Davos, and how?
Sure, you can sometimes land them by establishing good relationships and booking early but everyone here at Davos is interested in spreading the word and ideas, not selfishly holding them to one news outlet. For example, we interviewed Bill Gates Friday, and there is no way he would limit his message about innovation and global health care to just one network. Now, while it is wonderful to slap the big exclusive banner up on the screen for a guest, I’m not that interested in that goal as a driver. I’d like to believe that no matter where in line we stand, we will always do a more natural, compelling and informative interview.
I can’t tell you how many times in my career that I was able to make news during an interview even if I was second or third in line. That said, it is great to be first or exclusive. At Davos this year we have been first with Dr. Toby Cosgrove of the Cleveland Clinic, Joe Moglia of TDAmeritrade, Mike McAllister of Humana, Jim Gianopulos of Fox Filmed Entertainment who green-lit Avatar three years ago, Rick Goings of Tupperware, Shai Agassi of Better Place, Dennis Nally of PriceWaterhouse Coopers, Stan Bergman of Henry Schein, Suresh Vaswani of Wipro, and Sanjay Kalra of Tech Mahindra.
My mother, however, thinks this exclusive fight is a very silly battle and always says, “Only you and your competitors notice that stuff.”
4. What preparation work do you do before arriving in Switzerland?
Aside from researching intensively — which I do for every guest no matter where I am — the key to Davos preparation is to have KILLER SNOWBOOTS. I am from L.A., so I’m a wimp. Mine are Sorels that are guaranteed to keep your feet warm down to minus 50 degrees. These are the ones they wear at Base Camp at Everest, okay? I also packed seven cashmere sweaters and scarves, long underwear, ski pants and serious ski gloves. Our live shot location is on a balcony overlooking the Alps and trust me, that wind is bitter. Its like a wide-open, sub-zero freezer.
5. How much source development are you able to do when the CEOs and others always seem to be in meetings?
I have been running around finding people at the Congress Center, handing out cards and just having very direct and focused conversations. Some of the best relationships I am striking are with CEOs right after I interview them. We have tons of Swiss food and amazing hot soup the Holland House folks keep bringing to our location so the CEOs all want to nosh afterward and that is when I start in. That’s how I got a tip that President Clinton would be showing up to the U.N. tent near our live shot location. A CEO I had just interviewed felt comfortable enough after our interview that afterward he quietly whispered to me to watch out for the president and gave me the time. We ran down with our cameras and sure enough, Clinton showed up, and we grabbed a quick soundbite with him about his Haiti initiative.
6. How does Fox Biz try to explain an international event to the small businessman back in the United States?
Don’t undersell small business leaders. They’re sometime more sophisticated and gutsy than big business titans. I call it like I see it. I also believe you can never insult anyone by informing them. People love to learn. I think by bringing all viewers the feel of the event, you’re inviting them along for the wild Matterhorn Swiss ride that is Davos.
7. Is covering Davos a lot like the pack journalism of a presidential campaign, or are you able to break away from the back?
Not at all. We can go wherever we want and that includes way off-site. I’ve found that the Congress Center where all the panels are being held isn’t necessarily the place to get the best stories. Last night I went to a private, off-the-record dinner given by the NASDAQ. Tons of CEOs and leaders were all talking about global issues. It helped me get even better insight into what industry and policy makers are talking about. Tonight, I landed an invitation to the Davos Shabbat dinner where Israeli President Shimon Peres will be.
Then the Google party and if I’m still standing, Wipro has a Bollywood event I will try to make. That’s part of the layering on process. And of course, you’re not doing your full Davos reporting if you don’t hit the ski slopes. One of the first things I did was rent skis and drag my crew up onto the mountain. We had our Swiss production assistant Carole go backwards on her snowboard while shooting me doing a standup. The fact is, CEOs love to ski, they just don’t want their shareholders to see them doing it.
CNBC's pre-recorded schedule for Presidents' Day
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Kevin Coy of News on News reports that business news channel CNBC has put together a schedule for Presidents’ Day next month full of pre-recorded shows — and live shows with nothing to do with business — on a day when business news is likely to occur.
Coy writes, “With the exception of two live programmes, one at 4 am ET, and the other at 9 pm ET, CNBC’s schedule for Presidents’ Day on Monday 15th February is filled with documentary and biography repeats.
“This despite the European markets being open, and programming being available from the European version of CNBC, will provide Fox Business with yet another opportunity to embarrass the leading business network, by broadcasting live programming.
“Fox Business have previous in this area too, tending to broadcast live financial phone-ins, and provide updates on the European markets.
“CNBC have picked up an odd set of rights for Presidents’ Day however, broadcasting 2 hours of live coverage of the 134th Westminster Kennel Club Dog Show.”
Read more here. Pictured is an ad Fox Business ran in the past when CNBC closed up shop for a holiday.
DISCLOSURE: Talking Biz News has a content sharing arrangement with News on News.
A busy day for Claman
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Joseph Perone of The Newark Star-Ledger interviewed Fox Business Network‘s Liz Claman about her job and how she juggles work and being a mom.
Here is an excerpt:
Q. What is a typical day like?
A. I’ll get up at 5:15 a.m and go to the gym, get back home and try and get the kids ready. Look at the Google calendar, which has everybody’s schedules on it, whether it’s violin, hockey or chess or me going to Vegas for a trade show. My husband and I take turns taking Gabrielle to school, and our nanny takes our youngest to school. I go to work at 9:20 a.m., rush in, hair, makeup, and hit the computer to see the business websites. I do stock market cut-ins around 1:15 for Fox affiliates in Los Angeles. I rush to the green room by 1:30 and do three hours of shows. After I get off the set, I do a Fox affiliate hit for WNYW in New York. Then I come up and answer e-mails and do my son’s school lunch menu.
Q. How much do you travel?
A. I’ll hit Las Vegas three times a year, Omaha (headquarters for Berkshire-Hathaway) two or three times, Los Angeles five times, Silicon Valley three times. I’m going to Switzerland next week for five days.
Read more here.
Fox Business Network and Tennis Channel expand relationship
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The Fox Business Network and Tennis Channel have expanded their partnership to bring viewers daily updates of market moves and courtside play during the 2010 Grand Slam Events.
Starting with this week’s Australian Open, Fox Business and Tennis Channel will exchange a daily update, giving viewers on each network access to all the action that takes place both on Wall Street and on the courts at the 2010 Grand Slam Tournaments. The coverage will include live reports from the Australian Open, French Open at Roland Garros, Wimbledon and the U.S. Open at Flushing Meadows.
During each Grand Slam tournament, Fox Business Network’s “Imus in the Morning” will feature the Court Report with re-caps from the previous day’s tournament matches. Tennis Channel will lead into its nightly Grand Slam coverage at market close to give viewers the Fox Business Network Update, a summary of all the market moves from the day.
Tennis Channel’s Arlene Santana and Carrie Champion will anchor the Court Report on Fox Business every morning in the 8 am. EST hour while Fox Business Network’s David Asman will anchor the Fox Business Network Update on Tennis Channel every day in the 6 p.m. EST hour to recap the markets movers and shakers.
