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Fox Corporation (NASDAQ: FOXA, FOX) is a leading American news, sports, and entertainment company. Operating through two segments—Cable Networks and Television—Fox Corporation's prominent brands include Fox News, Fox Business, Fox Sports, and the Fox Television Stations. The company also boasts the ad-supported streaming platform, Tubi.
The Cable Networks segment features major entities such as Fox News and Fox Business, alongside various pay-TV sports stations. Meanwhile, the Television segment encompasses the Fox broadcast network, which operates 28 owned and operated local television stations, with 18 affiliated to the Fox network. Tubi, known for its vast library of free, ad-supported streaming content, is also part of the Television segment.
Significantly, in 2019, Fox Corporation sold most of its entertainment assets to Disney, pivoting its focus primarily on live news and sports content. The Murdoch family maintains control over Fox.
Recently, Fox Corporation reported total quarterly revenues of $3.45 billion for the three months ended March 31, 2024, compared to $4.08 billion in the prior year quarter. However, the company saw a 4% increase in affiliate fee revenues, driven by a 9% growth in the Television segment and a 1% growth in Cable Network Programming. Advertising revenues were recorded at $1.24 billion, compared to $1.88 billion the previous year, which had included the Super Bowl LVII broadcast.
In terms of profitability, Fox reported a quarterly net income of $704 million, up from a net loss of $50 million in the previous year. This improvement reflects the absence of prior charges related to legal settlements at Fox News Media and a gain on USFL assets contributed to the United Football League joint venture. Adjusted net income attributable to Fox Corporation stockholders was $520 million, or $1.09 per share.
Fox Corporation continues to be a pivotal player in the media landscape, leveraging its strong brand presence and commitment to delivering engaging news and sports content. For more information, visit Fox Corporation's website.
FOX Nation will host its sixth annual Patriot Awards on December 5th at the Tilles Center in Brookville, New York. Sean Hannity, Long Island native and FOX News Channel's top-rated primetime host, will emcee the event, which will stream live on FOX Nation at 8 PM/ET, with an encore presentation on FNC on December 8th.
The awards show, partnering with Tunnel 2 Towers, Patriot Mobile, Golden Corral, and Belfor, will honor military veterans, first responders, and everyday heroes across multiple categories. Notable FOX News personalities will serve as presenters. Leading up to the event, The Five and FOX & Friends will present live audience shows from the venue, offering attendees meet-and-greet opportunities with network personalities.
FOX News Channel (FNC) achieved record-breaking viewership during Vice President Kamala Harris' concession speech, drawing 7.9 million viewers and 1.4 million in the 25-54 demographic. The network dominated with 64% of cable news audience during its FOX News Democracy 24 special coverage. The Five secured 7.2 million viewers, while FNC led primetime with 5.1 million viewers, significantly outperforming CNN and MSNBC. The network maintained its position as the most-watched cable news network in swing states and attracted the highest number of Independent and Democrat viewers among cable news networks.
FOX News Media led all broadcast and cable networks in 2024 election night coverage with 13.6 million total viewers and 4.4 million in the 25-54 demographic. FOX News Channel's Democracy 2024 primetime coverage averaged 10.3 million viewers, outperforming ABC, NBC, CBS, and all cable news networks. The network's coverage peaked at 10.8 million viewers during the 10 PM/ET hour. FOX was first to call the race for Trump at 1:47 AM/ET. FOX Business Network achieved its highest-rated primetime in network history for the 25-54 demo. FOX News Digital recorded its best day since 2020 in page views and media initiations.
Fox (FOX) reported strong Q1 fiscal 2025 results with total revenues of $3.56 billion, up 11% year-over-year. Net income doubled to $832 million ($1.78 per share), while Adjusted EBITDA grew 21% to $1.05 billion. The growth was driven by a 6% increase in affiliate fees, 11% rise in advertising revenues, and 47% jump in other revenues. Key contributors included higher political advertising, growth at Tubi, stronger FOX News Media performance, and successful sports broadcasts. However, expenses increased due to higher programming rights costs at FOX Sports and Tubi operations.
FOX News Channel (FNC) announces the debut of new immersive graphics technology for its FOX News: Democracy 2024 coverage. The enhanced Studio M features augmented reality technology for the 'Bill'-board, virtual set technology, and new touchscreen applications for FOX News Voter Analysis. Key innovations include 3D interaction capabilities, voice-to-text triggers for AR graphics, and sophisticated presentation tools like the 'Path to 270' map and 'Top 5 Closest Races' tracker. The studio improvements include a bespoke 'super desk,' a two-story accent wall, and a 20-foot ultra-HD media wall. FNC remains the most-watched television news channel, attracting nearly 50% of cable news viewers.
Fox (Nasdaq: FOXA, FOX) has announced that it will discuss its first quarter fiscal 2025 financial results via a live audio webcast on November 4, 2024. The webcast will begin at 8:30 a.m. ET / 5:30 a.m. PT. The company will release its financial results approximately 30 minutes earlier, at 8:00 a.m. ET / 5:00 a.m. PT on the same day.
Investors and interested parties can access the live audio webcast of the presentation, as well as the archived version, at investor.foxcorporation.com. This event provides an opportunity for stakeholders to gain insights into Fox 's financial performance for the first quarter of its 2025 fiscal year.
OutKick's Maintaining with Tyrus will feature a sit-down interview with former President Donald Trump on Friday, October 18 at 8 AM/ET on OutKick.com. The interview, taking place at Trump Tower in New York, marks Trump's second appearance on the platform during this election cycle. Host George "Tyrus" Murdoch, a FOX News Channel (FNC) contributor and New York Times best-selling author, will discuss sports, pop culture, and the political landscape with Trump.
OutKick, owned by FOX , has seen continued growth in Q3 with 75 million total multiplatform views (up 6% vs Q2) and 68 total multiplatform minutes (up 9% vs Q2). The platform produces content at the intersection of sports, sports culture, pop culture, and news, reaching tens of millions of fans monthly across various media channels.
OutKick, a national multimedia sports platform owned by FOX , reported significant growth in Q3 2024. The platform achieved 75 million total multiplatform views (up 6% from Q2) and 68 total multiplatform minutes (up 9% from Q2). OutKick's average monthly total digital population reached 11.3 million unique visitors in Q3 2024.
September 2024 saw 23 million total multiplatform views (up 12% year-over-year) and 21 million total multiplatform minutes (up 2% from September 2023). Social media engagement also increased, with 4.1 million social actions in Q3 2024 (up 37% from Q2 and 112% from Q3 2023) and 37 million total video views across Facebook, X, and YouTube.
FOX News Digital led all news brands in multiplatform views and minutes during the third quarter of 2024, marking its 14th consecutive quarter as the leader in multiplatform minutes and 9th in multiplatform views. The platform achieved 10.4 billion total multiplatform minutes, 5.3 billion multiplatform views, and an average of 116 million monthly unique visitors, up 31% year-over-year.
FOX News Digital narrowed the gap with CNN to just 8 million average unique visitors for the quarter. The FOX News Mobile app averaged 6.4 million unique visitors. In September, FOX News Digital maintained its top position for the 43rd consecutive month in multiplatform minutes.
FOX News remained the most engaged brand on social media with 119.1 million total interactions, a 60% increase from Q3 2023. On YouTube, FOX News secured 803.7 million views. FOXBusiness.com outperformed CNN Business for the 10th consecutive quarter with 499 million multiplatform views.
FOX News Channel's Bret Baier will interview Vice President Kamala Harris on October 16th in Pennsylvania, marking her first formal sit-down on the network. The interview will air during Special Report with Bret Baier at 6 PM/ET. Baier, FNC's chief political anchor, has a show averaging 2.3 million viewers, including a significant number of Democrats and Independents. Baier's Common Ground segment features bipartisan discussions. He has extensively covered major political events and interviewed numerous political figures and world leaders. FNC is the leading network in basic cable, with a diverse audience and nearly 70 million homes reached.
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