FOX Business Network (FBN) Going After Jim Cramer Hard During Market Meltdown
Fox Business Network (FBN) is attempting to use the recent market meltdown to convert CNBC viewers to their network. They have launched an extremely aggressive marketing campaign in recent weeks that has attacked the credibility of CNBC's biggest star and most recognizable name, Jim Cramer.
FBN took out print ads in the New York Times and Wall Street Journal, and they have also run a 30 second commercial on FBN and FNC (Fox News Channel).
The 30 second commercial can be viewed below:
The print ad, splashed with an ample amount of red to remind people of the direction of the stock markets as of late, can be seen below:
The ad starts out by asking the reader the question - "Can you afford to watch CNBC?" It then goes on to point out some of Cramer's most memorable gaffes over the past few months, including imploring his viewers that Bear Stearns was "fine" and that Wachovia should be bought. The ad closes by asking the reader another question - "Wouldn't you rather watch Fox Business Network, owned by the same people who own the Wall Street Journal?" For one last added touch, the ad features a picture of a "bobblehead" Cramer at the top right of the page.
CNBC has pointed to the strong ratings of "Mad Money" as proof that people still care about what Jim Cramer has to say. FBN has pointed out that many in the investment community are enraged with Cramer right now, due to his poor picks and flip-flopping.
I have my own opinions on Jim Cramer and CNBC, but that's not the point of this article. I want you know what YOU think. What do you think about Cramer, and what do you think about the FBN attack ads? Fair game, or is Fox unfairly trying to capitalize on the current panic in the markets?
Filed under: General Market News