To say it has been a rough month for Fox News would be a massive understatement. With the loss of a flagship host (Bill O’Reilly) and others under investigation or on “vacation,” the optics surrounding the network aren’t looking pretty.
Anytime savvy investors see a company in trouble, they see opportunity. That seems to be the case with a bombshell leak from a television insider who claims a conservative news network is in the works.
The execs at Fox News are definitely not going to like this…
A well-placed source close to the proposal tells Mediaite that serious discussions are underway to create an alternative conservative cable network on the belief that the Fox News Network is moving too far to the left. The source, who is engaged in the talks, says a meeting is planned for today with two prominent high-powered television executives, some underperforming conservative networks and people who have an interest and the ability to fund a new network.
The potential aim? Putting “the old band” back together. There are certainly plenty of (out-of-work?) conservative powerhouses to pick from that could star on a new network, and perhaps even some executives from within Fox News who might be lured by the new opportunity.
“I’m working on it (the new conservative channel) hot and heavy,” the source said. “It’s live, it’s real.” The new channel could come to fruition within the next 10 to 12 months, the executive said.
It is no surprise that a savvy investor would see the turmoil within Fox News as a major opportunity. As The Times piece noted, analysts estimate that Fox News produced 25 percent of 21st Century Fox’s operating income last year or a whopping $6.6 billion.
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