Report: Thomson, Reuters Plan Business News Net

The U.K.’s Daily Telegraph says the huge combined news organization Thomson Reuters plans to launch a business news channel to compete against the likes of CNBC, Bloomberg Television and Fox Business Channel.

The paper, which did not cite its sources, said it understood the channel is planned to appear on the Web and on “some form of cable or digital platform,” and that it could launch as soon as January but that could be pushed back “as the company is conscious of Reuters’ earlier unsuccessful foray into television.”

The paper said Thomson Reuters said in May it planned to cut 140 of its editorial staff but would create 50 jobs for “special projects” believed to include the TV network, based in New York.