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Fox Business Grabs CNBC Anchor

The fledgling Fox Business Network has stolen a big name from CNBC. Charlie Gasparino, a former Wall Street Journal and Newsweek reporter, was the first to report that the federal government was considering a bailout of the insurance giant American International Group.

Though he is said to have felt under-appreciated at CNBC, he calls it an "amicable" exit. But he did issue a warning to his former employer: "My job is to rip the lungs out of the competition for Fox Business Network." Fox Business reaches 50 million homes, about half as many as CNBC.

Read the whole story at The Washington Post »

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