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The Fox Network will launch a business news channel later in the year.

Fox owner Rupert Murdoch, speaking today at the Digital Hollywood Media Summit , in New York, said the 'business-friendly' channel will launch in the US in the autumn.

"We think there is a great opportunity there, I have always thought so, there is a bit of nervousness in the company but we are going ahead and we will be on the air this year," he said.

"We are desperately building out a studio for it… we will be on the air some time in the fall."

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Mr Murdoch would not give away programming details ahead of next weeks' official launch, nor would he divulge plans of what the online offering from the new service would be.

He added: "We want to be a little more business friendly than CNBC. They jump on every scandal or would-be scandal. We won't ignore them of course if they are genuine stories, but it [CNBC] has an attitude that is a little bit negative I think. We think there is a good opportunity here."

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Oliver Luft

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