CNBC is providing “instant reaction” today after the U.S. Federal Reserve’s meeting on interest rates.
Well, what we need is not “instant reaction” but “instant analysis.”
So, in a 24/7, all-news-all-the-time environment, what we need are jourAnalysts.
Not just blah, blah, blah…
As always, facts and analysis are expensive, opinions and reactions are cheap.
UPDATE: The CNBC coverage of the new rates was as good as possible, but again the Federal Reserve decision was not the one expected by 51% of the experts surveyed by CNBC before the breaking news.
These financial analysts are, poor guys, out of the loop.
Shares of Dow Jones gained almost 2% to close at $59.01 Friday on news that Pearson, publisher of the Financial Times was seeking partners for a joint counteroffer for the company that would compete with Rupert Murdoch’s $5 billion bid.
One company Pearson has approached is General Electric, which owns business news channel CNBC.
If, on the other hand, Murdoch acquires Dow Jones, the Journal will compete more directly with the FT in Europe and Asia, and News Corp.’s plans for a Fox News business channel — which would compete with CNBC — will gain traction.
The Bancrofts, who are reluctant to put the Journal’s editorial integrity in Murdoch’s hands, are expected to warm to a Pearson approach, but it is viewed as “a long shot” because of the difficulty of three-way mergers, the lack of a leader, and the expensive problem of cashing out the company’s shareholders.
This is part of the dirty Dow Jones war.
If they are not able to fix their own circulation and advertising problems, how are they going to fix Dow Jones’?