Fox Business Network: A Leap of Faith

By Arun Khosla

In September, in a newsroom overlooking Midtown Manhattan, Fox News Executive Vice President Kevin Magee pressed a button that started the countdown clock over his shoulder.  Like a NASA shuttle launch, the digital display began to tick down to the debut of one of the most anticipated launches in television history.  At the helm were some of the most-recognized names in business news including Senior Vice President and Managing Editor Neil Cavuto and Vice President of Business News Alexis Glick.  Mr. Magee reminded the remaining new faces that they were to embark on a rare opportunity – being an original member of a new television network.

With 72 hours and counting before the first program aired, Fox Television Chairman Roger Ailes stood under the same spot as Mr. Magee and stressed the four things that would be the key to success: integrity, attitude, teamwork and excellence.  They were the same words he emphasized more than 10 years ago to staffers of an upstart known as the Fox News Channel.

Mr. Ailes’ words did not fall on deaf ears.  I have been part of two launches prior to Fox Business: the debut of CNBC/Asia Business News in India and WebFN.com.  The challenges can seem insurmountable as every facet of the organization is built from the ground up.  But the reward of watching a channel move from an idea in the boardroom to a TV set in your living room is truly gratifying.

It takes a certain type of person to be part of something new.  Taking the risk to join a startup is a leap of faith.  If you’re not willing to take risks and work hard for success that is not necessarily guaranteed, this is not something for you.  I think the common bond that all Fox Business employees have is that we were willing to take the risk and step out of our comfort zone for something we believe will be a success in the end.

That belief helped solidify strong working relationships early in the launch process.  The Fox Business staff worked seven days a week in the months leading up to the launch.  Despite the demands and challenges faced in the early days of the network, people kept a smile on their face and were eager to make the content better.  We saw our colleagues more than our loved ones, but it all paid off when the network went on the air on October 15 and one of the first reviews said it looked like the channel had been on the air for years.

Part of that comradery stems from the diversity in the newsroom, not just in terms of race and gender, but also in terms of work experience.  A network launch provides a media company a rare chance to bring together journalists and non-journalists.  Some staff members have a strong financial news background and some do not.  But that has allowed for diverse opinions and suggestions when it comes to deciding how to cover a story.

As a producer, one of the best parts of being a network pioneer is that you are given a blank template.  I often feel like a painter who has been handed a white canvas to create a masterpiece.  I wouldn’t call myself the Producing Picasso just yet, but the chance to think outside the box and take chances is a refreshing approach to covering business news.  Some ideas work, some don’t, but you are at least given the opportunity to try. Each day, in fact, the staff at Fox Business is creating history. From figuring out the best camera angle for a certain shot to developing the stylebook on names, dates and places, each day’s experiences help mold the ongoing and ever-changing process of how to get a story to air.

There are no “lifers” here and that has resulted in a much more inspiring atmosphere than you would find at a traditional network.  I hold high admiration for the enthusiasm possessed among the younger production assistants and interns.  Their spirit and energy level is contagious and it has renewed my drive for producing television.  Not long ago, I was one of them, and the launch of a new channel has provided me, and I’m sure many of my other colleagues, a sense of renewal in our TV careers.  I believe that initial leap of faith is turning out to be a truly rewarding gamble.

* Arun Khosla is a Producer at Fox Business Network.

Copyright © 2008 Donald W. Reynolds National Center for Business Journalism