updated 1/3/2007 3:53:10 PM ET 2007-01-03T20:53:10

News Corp.'s planned Fox business news channel has landed a deal to be carried on Time Warner Inc.'s cable service if the channel is launched, Fox said Wednesday.

The deal, whose terms were undisclosed, is part of a larger renewal agreement for Fox News, the Speed Channel and carriage of Fox owned-and-operated TV stations on Time Warner's cable service, according to a report in trade publication Multichannel News.

News Corp. executives have said they aim to launch a cable television business network competitor to NBC Universal's CNBC, a cash cow for the General Electric-controlled media and entertainment company. (MSNBC.com is a Microsoft-NBC Universal joint venture.)

Last year, Fox secured an agreement for the planned business channel to be carried to the digital cable subscribers of top U.S. cable operator Comcast Corp.'s territory. Comcast serves about 24 million subscribers over all.

According to the Multichannel report, Time Warner will pay 10 cents to 15 cents monthly per subscriber license fee for the Fox business channel if it launches.

A Fox spokeswoman confirmed the company had reached a distribution deal for the new channel with Time Warner, but declined to give more details.

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