Bear Stearns Notebook

News Corp‘s Rupert Murdoch called Fox Business Net a “good-looking channel,” and said the nascent venture is costing less than anticipated. Still, he said the net is working hard for increased distribution. Murdoch expects a healthy pay off from these efforts in 2-3 years, and once FBN is available in 60mln homes it “will really blast CNBC,” he said. — Comcast‘s Michael Angelakis said the MSO has the capacity to offer 150 HD channels, but that offering that quantity would severely compromise quality. — Viacom CEO Philippe Dauman talked up original programming Mon, saying it’s doing well ratings-wise and helping digital efforts. “We’re taking chances. We have some edgier programming, and it has worked,” he told the crowd, referring apparently to shows such as MTV‘s “Shot at Love.” The theme of May’s upfront will be innovation, he said, adding that the gap between cable and broadcast CPMs is narrowing.