Fox Business to launch Oct. 15

News Corp.’s new financial news cable channel will go live Oct. 15 as the Fox Business Network, company executives announced Wednesday.

So far, the nascent network has secured distribution deals making it available to 30 million cable subscribers, about a third of the homes that rival network CNBC currently reaches in the U.S.

Neil Cavuto, managing editor of business news for Fox News, will oversee the content of the new network, which will be run by Fox News Executive Vice President Kevin Magee.