The World Intellectual Property Organisation, the UN's body for intellectual property rights, has ruled Rupert Murdoch is not entitled to own the domain name .
The domain name was registered in the name of Florida businessman Derek Hodges hours after Murdoch announced plans to launch the channel in February 2007.
Wipo said Hodges, who claims to have used the Fox Business Network name for five years for legitimate business purposes, was not guilty of what Murdoch's representatives described as "reverse name hijacking".
Representatives for Fox claimed Hodges had attempted to sell FoxBusinessNetwork.com to it for $50,000, and that his registration of the site was done purposely to cause confusion among site visitors.
Wipo conceded that Hodges' timing of registration was "suspect", and it is understood Fox is now pursuing other options in securing a suitable domain name for its business news channel.
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