|Upstart Herring Broadcasting, which is owned by San Diego's Herring family, is prepared to wager hundreds of millions of dollars that viewers will tune in to a conservative-leaningr03; cable news channel that isn't named Fox News.
The company, which also owns Wealth TV, believes that a "business case" can be made for its channel -- dubbed One America News -- because the views of independents, libertarians and conservatives aren't being heard, said Charles Herring, the company's president (pictured).
"There is Fox, of course," he said in an interview with MSN Money, adding that the market has room for One America News. "This will be another platform for independents and conservatives to express their views."
One America will launch July 1. It will feature straight news programs and political talk shows that come from the conservative perspective. Herring declined to provide any information on the hosts or on the state of carriage agreements. However, he did take pains to say One America's shows won't be the shout-fests that are all too common on cable news.
The Wall Street Journal estimated that the channel's expected distribution will be between 10 million and 15 million homes. Fox News, by contrast, is available in 90 million homes. A spokesperson for Fox couldn't immediately be reached for comment. Fox, which is owned by News Corp. (NWS), generally is the most watched cable news channel in terms of the highly targeted demographic of viewers ages 25-54.
Though these channels tend to attract their biggest audiences during major news stories, they still make big money. Fox's 2011 profit was about $869 million, far exceeding the $596 million earned by Time Warner's (TWX) CNN and the $187 million earned by Comcast's (CMCSA) MSNBC, according to the Project for Excellence in Journalism.
Current TV, which was recently sold to Al-Jazeera, failed to attract an audience for its liberal programming. Glenn Beck's The Blaze offers more conservative fare. The channel is distributed by the Dish Network (DISH) and is seeking a wider audience, The Journal says.
Herring said he hasn't spoken with Beck, but he realizes the daunting challenge that lies ahead for One America News.
"It's a marathon," he said, "not a short sprint."