After shocking the television news business by taking Fox News Channel from nowhere to cable news dominance, the same management team created by the late Roger Ailes and Rupert Murdoch took on another challenge.  The lucrative niche of business news, where CNBC showed the same sort of first mover advantage that had favored CNN, was the target. It seemed like an auspicious beginning in October 2007 when the 21st Century Fox media empire launched a new channel devoted to business news. Meanwhile, the Fox News Channel (FNC) was eleven years old at that point and had achieved #1 ratings status among the three U.S. cable news outlets, trouncing cable news pioneer CNN and MSNBC. The Fox Business Network (FBN) was intended to challenge CNBC, the leading cable-satellite-Internet business news channel, which had started way back in 1989 and seemed ripe for a challenge.. The first years of FBN were slow going, however. Two and one-half months after Fox Business launched, the New York...(Read Full Article)