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Charles Sykes/Invision / AP

A new, more conservative TV network is reportedly in the works, after recent events and reports that suggest Fox News Channel is moving further left, per Mediaite. Former Fox News Chief Roger Ailes, as well as high-powered television executives and potential funders are meeting Friday to discuss what a new network could look like.

Why it matters: The drama is reflective of a massive change hitting the right-wing media ecosystem that has dominated political coverage for the past decade.

Our thought bubble: Audience demand doesn't shift from business-side pressures. We're watching Sinclair Broadcasting Group take strategic steps to fill that void at the local level, but if Fox goes more mainstream at the national level, there will almost certainly be a market opening for a new right-wing channel to gain some steam, at least before the cable business bubble bursts.

Why now: The controversy comes at the heels of an internal rift between Fox brass. On Thursday, Fox News Anchor Sean Hannity tweeted his frustration with reports that Fox President Bill Shine, accused of covering up sexual harassment allegations, could be removed. Shine represents what's left of Fox's traditionally conservative leadership, after the high-profile departures of former President Roger Ailes and former star anchor Bill O'Reilly.

The rift is also representative of the internal drama and business pressures facing the Murdoch family, whose management style has been tested throughout a series of high-profile scandals and potential acquisitions.

Go deeper

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Coinbase files to go public

Illustration: Eniola Odetunde/Axios

Cryptocurrency exchange Coinbase on Thursday filed to go public via a $1 billion direct listing.

Why it matters: This comes in the midst of a crypto boom, and the listing may further legitimize the industry.

Trump’s blunt weapon: State GOP leaders

Trump supporters rally near Mar-a-Lago on Feb. 15. Photo: Joe Raedle/Getty Images

President Trump didn't have to punish his critics in Congress — his allies back in the states instantly and eagerly did the dirty work.

Why it matters: Virtually every Republican who supported impeachment was censured back home, or threatened with a primary challenge.

The modern way to hire a big-city police chief

Illustration: Annelise Capossela/Axios

When it comes to picking a city's top cop, closed-door selection processes have been replaced by highly public exercises where everyone gets to vet the candidates — who must have better community-relations skills than ever.

Why it matters: In the post-George-Floyd era, with policing under utmost scrutiny, the choosing of a police chief has become something akin to an election, with the need to build consensus around a candidate. And the candidate pool has gotten smaller.