Good business news. Blame Murdoch

Rupert Murdoch is going to take the focus off the bad news. Variety Magazine:

"They [CNBC - the business channel] dwell too much on failures and scandals and politics," Murdoch said of CNBC. "We want to spend a lot of time on innovation, successes and people who are making money."

So he is starting a new channel:

Rupert Murdoch vowed that News Corp.'s upcoming Fox Business Network would take a very different approach to business news than CNBC, casting the upcoming battle as Wall Street vs. Main Street.
"It's going to be different from CNBC, just as Fox News is different from CNN," Murdoch told Wall Streeters at the Goldman Sachs-sponsored conference Tuesday. "CNBC is a financial channel for Wall Street; we're for Main Street."

CNBC has had little competition, short of Bloomberg TV, since CNN shuttered CNNfn in late 2004. Fox Business Network is set to launch in 34 million homes on Oct. 15.

The lame-strem media love to hate Rupert Murdoch. Another reason to.