Tuesday, October 16, 2007

Wall Street Journal and MarketWatch Drop CNBC Ads Due to Launch of Fox Business Network

On the day they had contracted to run advertisements placed by CNBC, two Web sites owned by Dow Jones & Company instead ran ads for that cable business channel’s new competitor, the Fox Business Network. Both MarketWatch and The Wall Street Journal’s Web site, WSJ.com, filled up the exact spaces CNBC had purchased with rotating ads that included some for Fox Business Network. These were accompanied by links to foxbusiness.com, the Web site of the Fox Business Network. The ads for Fox started running soon after midnight. CNBC, which is owned by NBC Universal (both are units of General Electric), had concluded a deal with Dow Jones more than a month ago to secure those locations for ads supporting CNBC. CNBC paid about $87,000 for the ads. Aware that yesterday was the day that its new rival, Fox Business, was going on the air, CNBC specifically asked for — and was granted — an exclusive position on MarketWatch, guaranteeing that its ads would be seen by everyone who went to the home page. CNBC had also purchased a two-month position on the Markets Data page on WSJ.com. In both cases, ads for Fox Business Network turned up exactly where CNBC had contracted for its ads to be. Fox’s owner, the News Corporation, agreed to purchase Dow Jones in July, but that deal has not been completed.
http://www.nytimes.com/2007/10/16/business/media/16foxads.html?ex=1350187200&en=e6699ce45a33f3f8&ei=5088&partner=rssnyt&emc=rss

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