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 Weather, the AVOD streaming service of FOX News Media, has signed six meteorologists to anchor its programming, announced president Sharri Berg. The team includes Jason Frazer, Britta Merwin, Craig Herrera, Brigit Mahoney, Nick Kosir, and Stephen Morgan, each bringing unique regional expertise. The service aims to enhance weather coverage and engage viewers with diverse perspectives. FOX Weather capitalizes on FOX Corporation's strong media presence, reaching 200 million people monthly and currently leading cable viewership in news.
In May, FOX News Digital achieved significant milestones, surpassing CNN.com in total multiplatform minutes for the third consecutive month with nearly 3.4 billion total multiplatform minutes, despite a 20% decline from the previous year. The digital network also recorded 1.6 billion total multiplatform views, outpacing CNN by 18 million views. Unique visitors totaled 85 million, down 25% year-over-year. FOXBusiness.com experienced a noteworthy 44% increase in multiplatform views and a 41% rise in multiplatform minutes compared to the previous year.
Fox Corporation (Nasdaq: FOXA, FOX) has authorized an additional $2 billion for stock repurchases, raising the total to $4 billion, with over $1.56 billion already completed. This initiative aims to enhance long-term shareholder value, demonstrating confidence in the company's financial strength and sustainable cash flow generation. Executive Chairman Lachlan K. Murdoch emphasized a balanced capital deployment strategy. Additionally, William A. Burck has been elected to the Board, enhancing governance with his extensive legal and business experience.
FOX News Audio has partnered with Apple Podcasts Subscriptions to launch FOX News Podcasts+, a subscription service priced at $2.99/month or $29.99/year. This platform offers exclusive content, including seasonal specials and commercial-free versions of popular shows like FOX News Sunday and The Brian Kilmeade Show. The service includes access to over 40 original podcasts hosted by network personalities. FOX News Podcasts has seen significant growth, ranking among the top 15 podcast publishers and achieving double-digit year-over-year growth in Q1 2021.
Fox Corporation (Nasdaq: FOXA, FOX) has announced that Chief Financial Officer Steve Tomsic will present at the Credit Suisse 23rd Annual Communications Conference on June 14, 2021, at 12:40 PM Eastern time. A live and archived webcast of his presentation will be accessible at investor.foxcorporation.com.
Fox Corporation is renowned for producing compelling news, sports, and entertainment content through brands like FOX News Media and FOX Sports, which play a significant role in engaging audiences nationwide.
FOX News Media's franchise series Proud American will celebrate its eighth year by honoring U.S. armed forces and veterans, featuring stories across multiple platforms including FOX News Channel and FOX News Digital. In a Memorial Day commemoration, the series includes donations of $25,000 to The Navy Seal Foundation and $15,000 to the USO. Special programming starts May 28, with live broadcasts from iconic sites and special podcasts hosted by veterans. FOX News remains the top-rated cable news network, reaching 200 million monthly viewers.
FOX News International is expanding into Asia, starting May 27, reaching a total of 37 countries. The service, which includes live streams of FOX News Channel and FOX Business Network, previously launched in Turkey in March and Mexico last August. April 2021 marked record engagement for the platform. Notable download success was seen in the UK, Germany, and Spain, with Turkey performing well despite its recent launch. The service costs $6.99 monthly and is available on multiple platforms, including iOS and Android.
FOX Nation announced the launch of FOX News Primetime All The Time, allowing subscribers to access on-demand episodes of popular FNC shows like Tucker Carlson Tonight, Hannity, and The Ingraham Angle starting June 2. This service enhances viewer flexibility, making highly-rated programming available anytime. The move complements FOX Nation's existing content, which includes over 3,200 hours of original programming and documentaries. FNC's primetime shows continue to dominate cable news ratings, outperforming competitors significantly in viewership.
Fox Corporation (Nasdaq: FOXA, FOX) announced that Chief Operating Officer John Nallen will participate in a keynote session at the J.P. Morgan Global Technology, Media and Communications Conference on Wednesday, May 26, at approximately 12:40 PM Eastern (9:40 AM Pacific). A live and archived webcast of the presentation will be available at investor.foxcorporation.com. Fox Corporation is known for its leading brands in news, sports, and entertainment, including FOX News Media and FOX Sports.
FOX News Channel has appointed Rachel Campos-Duffy as co-host of FOX & Friends Weekend, marking her as the first Hispanic woman to hold this role. She joins co-hosts Pete Hegseth and Will Cain starting June 12. Lawrence Jones will transition to enterprise reporter for the franchise. FOX & Friends Weekend leads cable news ratings, particularly in the coveted 25-54 demographic. Campos-Duffy will also continue with her show Moms on FOX Nation and launch a new podcast titled From the Kitchen Table – the Duffy’s.
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