Welcome to our dedicated page for Fox Corporation Class B news (Ticker: FOX), a resource for investors and traders seeking the latest updates and insights on Fox Corporation Class B stock.
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 Corporation (Nasdaq: FOXA, FOX) announced a favorable arbitration ruling on November 4, 2022, regarding claims against Flutter Entertainment plc. The ruling restricts Flutter from pursuing an IPO for FanDuel without FOX's consent. FOX holds a 10-year call option, expiring in December 2030, to acquire an 18.6% stake in FanDuel for $3.72 billion, with a 5% annual escalator. This opportunity enhances FOX's position as a key player in the U.S. sports betting market, demonstrating the value created through its media partnerships.
Fox Corporation has partnered with FreeWheel to enhance its OneFOX video inventory across its entertainment, sports, and news brands. This agreement aims to provide innovative advertising solutions, manage direct sold ad campaigns, and unify video inventory for better campaign management. Key benefits include improved data insights and targeted audience reach. Dan Callahan from FOX emphasizes the partnership's goal of optimizing brand visibility across its portfolio, while FreeWheel's Mark McKee highlights the importance of streamlining ad supply in a fragmented market.
Fox Corporation (NASDAQ: FOXA) and VIZIO (NYSE: VZIO) have announced a multi-year expansion of their distribution partnership. The FOX Sports app is now available on VIZIO Smart TVs, alongside FOX Weather on the WatchFree+ channel. This partnership aims to enhance viewer access to a wide range of sports and news programming. VIZIO Ads will gain access to FOX's premium inventory, expanding advertising opportunities. The launch of the FOX Sports app coincides with a promotion showcasing live College Football and NFL games on VIZIO's Home Screen for November 12-13.
Fox Corporation reported its financial results for Q1 fiscal 2023, revealing total revenues of $3.19 billion, a 5% increase year-over-year. Affiliate revenues rose 3%, driven by a 6% growth in the Television segment. Advertising revenues surged 8% due to higher political ads and pricing strength across its news and sports brands. However, net income decreased to $613 million from $708 million last year. Adjusted net income was $670 million with an EBITDA of $1.09 billion, reflecting a 3% rise, offset by higher expenses from digital investments.
Fox Corporation (Nasdaq: FOXA, FOX) will present its first quarter fiscal 2023 financial results on November 1, 2022, via a live audio webcast starting at 8:30 a.m. ET. The results will be released at approximately 8:00 a.m. ET on the same day. Investors can access both the live and archived webcast at investor.foxcorporation.com. Fox Corporation continues to produce and distribute diverse news, sports, and entertainment content, holding significant cultural and commercial value.
Fox Corporation (Nasdaq: FOXA, FOX) announced that its Chief Financial Officer, Steve Tomsic, will speak at the BofA Securities 2022 Media, Communications and Entertainment Conference on September 8 at 12:40 PM Eastern time. An archived webcast of the presentation will be accessible via investor.foxcorporation.com. Fox Corporation is recognized for creating and distributing a wide array of news, sports, and entertainment content through brands like FOX News Media, FOX Sports, and Tubi.
Fox Corporation (Nasdaq: FOXA, FOX) released its third annual Corporate Social Responsibility (CSR) Report, highlighting initiatives for the fiscal year ending June 2022. The report details FOX's philanthropic efforts, contributing over $20 million to various communities, including $1 million for disaster relief and humanitarian efforts. Recognized as a 2022 Top Employer, FOX emphasizes sustainability and employee benefits. The full report is accessible through their official website.
Fox Corporation reported its fiscal 2022 results, achieving total revenues of $13.97 billion, an 8% increase from the previous year. The net income for the year stood at $1.23 billion, down from $2.20 billion in fiscal 2021, primarily due to fair value changes in investments. Fourth-quarter revenues reached $3.03 billion, boosted by a 7% rise in advertising revenues. Adjusted EBITDA for the year was $2.96 billion, a decrease from $3.09 billion the year prior. The Board declared a semi-annual dividend of $0.25 per share, effective September 28, 2022.
Fox Corporation (Nasdaq: FOXA, FOX) has finalized a multi-year renewal of its distribution agreement with Verizon for its Fios TV platform. The deal ensures continued distribution of FOX's full portfolio, including FOX News Media, FOX Sports, and local TV stations in key markets such as New York and Philadelphia. Additionally, FOX Weather will be added to the Fios lineup, along with Tubi, enhancing content access for Verizon subscribers. This partnership underscores Fox's strategy to expand its content delivery and strengthen its relationship with distributors.
Fox Corporation (NASDAQ: FOXA, FOX) will present its fourth quarter and full year financial results for the fiscal year ending June 30, 2022, on August 10, 2022. The live audio webcast begins at 8:30 a.m. ET, with results released at approximately 8:00 a.m. ET. Fox continues to leverage its brands, including FOX News Media and FOX Sports, to engage audiences and maintain commercial partnerships. The webcast will be available on the investor relations website for those seeking detailed financial data and insights.
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