“Our goal is to be a little more boomer-oriented, more information-based rather than being vituperative and polarizing,” the Newsmax CEO tells Bloomberg Businessweek.
Ruddy says he can make NewsmaxTV profitable entirely through advertising and selling Newsmax’s consumer products over the air. It’s the same business model that’s been successful for QVC, Home Shopping Network (HSNI), and numerous televangelists, but no one has tried it in cable news.
He’s quick to add that he doesn’t need to beat Fox News, he just needs to shave off a little of its audience—particularly those conservatives who feel Fox has drifted too far to the right. “If we take 10 to 15 percent of the Fox audience,” he says, “and they are making $1 billion a year, then we are going to be hugely profitable.”
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