I don't need a study to tell me this. It seems Fox News just doesn't like facts.
http://www.huffingtonpost.com/2010/12/17/fox-news-viewers-are-the-_n_798146.html
I've watched Fox News (and Fox Business News) many times over the years. But more often than not, it seems to be little more than a "echo chamber" for people who have a deep, desperate need to have their beliefs confirmed.
My problem with Fox News (and many of Murdoch's news outlets in general) is not the conservative bent. From a fiscal standpoint, I'd be inclined to agree with much of that. My problem with Fox News (and Fox Business News) is its use of factually incorrect claims and
extreme hyperbole.
For "real news" I watch Bloomberg News. It's rather dry most of the time. They don't break their necks hiring former beauty pageant winners in short skirts and low cut blouses to read the news. And they don't try to pass shouting matches off as debates. Like any other news outlet, you will get whatever perspective that the reporter/producer chooses to present. But more often than not, the presentation will be factual... and they leave the small-minded hyperbole at the door. Unlike Fox, Bloomberg News is anything but an echo chamber. If you really want to be challenged, and not just hear what you WANT to hear, watch the Intelligence Squared debates on Bloomberg. But for the exact same reason that more Americans will watch Jersey Shoe than a documentary, more people watch Fox News than watch Bloomberg News.
As H. L. Mencken (reportedly) said:
"No one ever went broke underestimating the intelligence of the American people."
IMO, the success of outlets like Fox News (as well as Star Magazine, National Enquirer, etc.) is just further proof of that.