Assessing Fox Business Network, Two Years Later
Hires: John Stossel is joining the network from ABC News, and Lou Dobbs may be next. But the big story is Don Imus. While Imus has brought a devoted following and enjoyed strong ratings since his debut, there’s a lingering question. Just because Imus makes good business sense for FBN, does he make good sense for a business network?
“Don asks good intelligent questions. I think he asks questions that people at home want asked,” FBN EVP Kevin Magee tells Mediaite. “If the charge is we’re not as geeky, wonky, and desperate to prove to our audience how smart we are, we accept.”
But what’s the line between “geeky” and simply not talking business? Last week, while Cavuto was a guest on Imus’ show, the FBN anchor brought up Bank of America CEO Ken Lewis. “Who?” asked Imus, although it was unclear if he was kidding. When Cavuto gave his position, Imus said, “Oh, the googly-eyed guy.” This is just one example of the business news interactions Imus has with those who regularly supply the business news material to his show.
FBN has stayed on point with their plan to provide updates every 15 minutes from Connell McShane, Lee, Sandra Smith and more, and Imus plays the part of clueless radio host well in these conversations. But the short updates don’t diminish what’s happening during the rest of the show – like lengthy appearances last week by celebrities (that certainly appeal to his demo) Tanya Tucker to Dick Cavett. It shouldn’t be a surprise that Tucker did a lot more singing than talking about stocks.
“I would say it’s a Hail Mary pass to get additional sampling,” says the business news insider we spoke to. “And it’s really a leap away from business news…It’s more morning zoo. I can’t imagine any investor actually tuning in to listen to Don Imus in the morning. It’s just not actionable information.”
While Imus isn’t providing the necessary tools for someone in the financial world to start their workday, they can certainly get their information in other places (like the web). So when someone entrenched in the business world like Ted Weisberg of Seaport Securities, says he watches every day, because Imus is “a funny guy,” it’s not entirely surprising. “He has a funny way of reducing things to the lowest common denominator,” he told us. “I think it’s refreshing.” (Well, FBN probably isn’t aiming for ‘lowest common denominator’ exactly.)
Continued Weisberg: “He’s not Ron Insana, he’s not Mark Haines, but he’s not trying to be.”
“I think it’s a brilliant move,” said FBN host Bolling. “I like the guy, he’s got a really watchable show.”
And, going back to the business of Fox Business, it certainly helps the bottom line. “The fact that he’s bringing a lot of these folks from his radio audience and elsewhere is only good for us,” said Magee. “It gives people a chance to sample the rest of our programing which I think will sell itself.”
So that’s the sacrifice – let Imus knock the very idea of business news when he feels so inclined, while mostly talking about whatever it is he normally talks about on a regular, non-financial world basis. And hopefully these viewers stick around for the more biz-newsy hours. It may work to up the viewership, but it disrupts the flow of focused business news in the same way putting a Glenn Beck hour between Keith Olbermann and Rachel Maddow would. Would it bring new viewers? Of course. But at what cost to continuity?
