Fox Business Network takes a shot at CNBC in a new commercial that targets its rival's lacking coverage of breaking economic news this month.
CNBC stayed on pre-taped programming when Standard & Poor's downgraded the United States' rating for the first time, and when President Barack Obama announced the debt ceiling agreement. The network's two smaller rivals, Bloomberg Television and Fox Business Network, both extended live coverage for the stories.
Fox Business jumped on CNBC's blunder with a new commercial that compares its coverage of breaking news with nature scenes to portray CNBC on summer vacation. The 30-second spot asks, "During the historic debt downgrade, Fox Business Network was on air getting the facts first. CNBC? When economic turmoil struck, only one network was there. The competition? Gone fishin'"
In a twist, Fox Business bought commercial time on Time Warner Cable to run the ad on CNBC. The Daily News reports that the commercials were scheduled to air this week, but were gone by Monday afternoon.
Fox Business News also ran a full-page ad in the Wall Street Journal last Monday, with screen stills contrasting its live debt ceiling coverage on July 31 with CNBC's broadcast of "How I Made My Millions."