Fox News named Ray Hennessey managing editor and director of the Web site for the planned Fox Business Channel, part of News Corp. (NWSA:US)'s push into financial news.
Hennessey, 34, will oversee editorial and design at the Web site, New York-based Fox News said today in a statement. He reports to Kevin Magee, executive vice president of Fox News.
News Corp., which is trying to buy Wall Street Journal publisher Dow Jones, is starting a business companion to its Fox News channel, the most watched U.S. cable news network. The business channel, scheduled to start this year, will compete with General Electric Co.'s (GE:US) CNBC, and Bloomberg LP, the parent of Bloomberg News.
Hennessey, a former host of CNBC's ``Wake Up Call'' show, was the editor of SmartMoney.com, where he led editorial, television operations and technology, Fox's statement said. He previously managed personal finance and fund industry coverage at Dow Jones Newswires and wrote a column about new stock offerings for the Wall Street Journal.
Class A shares (2FA:US) of News Corp. fell 30 cents to $21.51 at 4:02 p.m. in New York Stock Exchange composite trading. They are little changed this year.
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