Dallas, Texas 06/25/2015 (Financialstrend) – Fox has announced plans to create the first ever 24-hour live radio news service. The Twenty-First Century Fox Inc (NASDAQ:FOXA) subsidiary will host the all live news channel on satellite radio giant Sirius. The service will be the first of a kind for Sirius XM Holdings Inc. (NASDAQ:SIRI), which has never carried an all-news service for its terrestrial radio listeners.
No Airing Of Political Commentary
The new radio service should be a great addition to Sirius XM Holdings Inc. (NASDAQ:SIRI) portfolio that pays host to over 150 channels split in the format of music, talk and sports. SiriusXM currently carries Fox News Talk, an opinion driven channel. The new all-news radio channel is part of a multi-year agreement as Fox News continues to repackage its content.
Fox News will produce all the editorial content mostly focusing on breaking news across the globe. However, the Twenty-First Century Fox Inc (NASDAQ:FOXA) subsidiary has reiterated that it does not plan to air any political commentary or opinion, synonymous with its Fox News Channel.
Correspondents will be used to file reports while news anchors such as Shepard Smith will only be heard reporting from the field instead of acting like readers on the radio service. The new radio service should be up and running in the fall. The service should provide more than 27.7 million subscribers on Sirius XM Holdings Inc. (NASDAQ:SIRI) an easy way of staying in touch with the happenings across the globe.
New Revenue Stream for Fox News
The program provides Twenty-First Century Fox Inc (NASDAQ:FOXA) with another revenue generating pathway. Just like other talk channels on satellite radio, the all-news radio service will carry commercials. Fox News, Channel Senior Vice President Jay Wallace, is to oversee the operations of the new channel in addition to his current responsibilities.
The 24/7 news service should provide a wide range of opportunities for multi-media journalists as well as emerging talents.