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.
In July, FOX News Digital achieved 1.6 billion multiplatform views and 3.4 billion multiplatform minutes, leading in both metrics and surpassing CNN.com for the fifth consecutive month. The digital network also attracted 88.7 million unique visitors and 6.9 million visitors via its mobile app. Meanwhile, FOXBusiness.com experienced a month-over-month increase, reaching 111 million multiplatform views and 197 million minutes. However, there was a decline in total views and unique visitors compared to July 2020, indicating a need for strategic improvement.
FOX Weather, the new AVOD streaming weather service from FOX News Media, is set to launch this fall. Three reporters, Nicole Valdes, Steve Bender, and Max Gorden, have been hired to cover live weather events. Valdes, based in Nashville, has a background in investigative journalism and hurricane reporting. Bender, stationed in Miami, has covered various natural disasters. Gorden will be based in Los Angeles, having previously worked in Arizona and Wisconsin. Additionally, five multimedia journalists will join the team to enhance coverage as the platform grows.
Comscore (NASDAQ: SCOR) has announced an expanded multi-year partnership with Fox Corporation (NASDAQ: FOXA, FOX), enhancing its National TV measurement services. This collaboration results from Comscore's improved data rights, promoting measurement stability and product enhancements. Comscore's Chief Revenue Officer highlighted the importance of reliable TV measurement amidst the industry's shift to impressions-based buying. The company aims to drive a multi-currency marketplace, allowing advertisers to reach audiences based on detailed consumer behaviors and preferences.
FOX News Channel (FNC) appointed Jacqui Heinrich as White House correspondent, covering President Biden's agenda alongside Peter Doocy. Aishah Hasnie advances to Congressional correspondent, while Alexandria Hoff joins as a general assignment reporter. Heinrich, previously FNC's Congressional correspondent, has significant experience, including key events during the 2020 election cycle. Hasnie is recognized for impactful reporting during the COVID-19 pandemic. Hoff previously worked at CBS in Philadelphia, covering elections and major events. FNC remains a leading news service with high viewer trust and engagement.
Fox Corporation (Nasdaq: FOXA, FOX) reported strong financial results for Q4 2021, with a net income of $272 million, up from $145 million year-over-year. Quarterly revenues increased by 20% to $2.89 billion, driven by a 38% rise in advertising revenues. For the full year, net income reached $2.20 billion, a substantial increase from $1.06 billion in the previous year. The company declared a semi-annual dividend of $0.24 per share and continued its share repurchase program, having repurchased $1.17 billion in Class A stock. However, challenges from COVID-19 persist, affecting content production and advertising spending.
FOX Business Network (FBN) will launch FBN Prime on September 20, featuring a lineup of new primetime programs that highlight American industry and success stories. The series includes How America Works, hosted by Mike Rowe, and American Built, led by Stuart Varney. Following shows include American Dream Home and Mansion Global. The new programming aims to engage viewers with inspiring narratives while honoring key sectors of the American economy.
FOX News Channel (FNC) ranked as the most-watched basic cable network in July, achieving an average of 2.1 million viewers in primetime. The network dominated viewership with 61 of the top 100 cable telecasts. CNN faced a significant decline, losing over half its audience, while MSNBC also saw major losses. FNC's Tucker Carlson Tonight was the top-rated program, averaging over 3 million viewers. FNC sustained minimal viewership declines compared to its competitors, highlighting its strong position in the market.
Fox Corporation (Nasdaq: FOXA, FOX) will present its fourth quarter and full year fiscal 2021 financial results in a live audio webcast on August 4, 2021, starting at 4:30 p.m. ET. Results will be available at approximately 4:00 p.m. ET the same day. The webcast can be accessed live and archived on investor.foxcorporation.com. Fox Corporation is known for its significant news, sports, and entertainment content through brands like FOX News Media and FOX Sports.
FOX News Digital achieved top rankings in Q2 2021, amassing over 4.7 billion multiplatform views and nearly 9.9 billion minutes of engagement, according to Comscore. In June alone, it surpassed CNN.com with 2.9 billion minutes and 1.5 billion views. The FOX News Mobile App drove 7 million unique visitors. FOXBusiness.com saw significant growth, with a 14% increase in views and minutes year-over-year. Despite leading metrics, there were declines compared to 2020, with unique visitors down 25% and total minutes down 26% for Q2.
Fox Corporation has appointed Brian Nick as the new Executive Vice President and Chief Communications Officer, effective at the end of July 2021. Nick joins from Coca-Cola Consolidated, bringing extensive experience in communications, including previous roles at Walmart and the National Republican Senatorial Committee. Lachlan Murdoch, Chairman and CEO, expressed enthusiasm about Nick's wealth of experience and potential to strengthen FOX's voice in the market. FOX, known for its influential news and entertainment brands, aims to leverage Nick's expertise to enhance internal and external communications.
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