Fox Business Channel to launch in 2006

Long-running speculation that a CNBC-challenging Fox News spin-off is in the works was confirmed today by the Wall Street Journal.

The paper reports that a Fox Business Channel - a spin-off from Fox News - is set to launch during the first half of 2006. In terms of carriage, Fox Business Channel will be available on DirecTV, a digital satellite provider that is 34% owned by Fox Entertainment Group, which is in turn 82% owned by Rupert Murdoch's News Corp, although Murdoch has reportedly indicated that he wishes to conclude a carriage agreement with Time Warner Cable before launching the channel.