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 April, FOX News Digital surpassed CNN.com in total multiplatform minutes for the second consecutive month, achieving over 3.5 billion total multiplatform minutes. The network attracted over 89 million unique visitors and nearly 1.7 billion views, outperforming major news brands. Additionally, FOX News led social media engagement for the 80th consecutive month and dominated YouTube views with over 240 million, reflecting a 54% increase month-over-month. FOXBusiness.com also showed strong performance with over 20 million unique visitors.
FOX Nation, the streaming platform of FOX News Media, is honoring Memorial Day by offering one year of free access to all active U.S. military members and veterans through its Grateful Nation initiative from May 24-31. The promotion coincides with new themed programming showcasing heroic stories of veterans, including Hero Dogs, America’s Top Ranger, Modern Warriors, and USA Ink. FOX Nation aims to celebrate and support service members while providing extensive content dedicated to military experiences.
FOX News Channel will debut a new weekend programming lineup on June 5-6, featuring Trey Gowdy and Dan Bongino in prominent time slots. Gowdy will host a live program at 7 PM/ET on Sundays, focusing on legal and political analysis, while Bongino will host a new show at 10 PM/ET on Saturdays that will address pressing news topics. The network will also permanently add The Big Saturday Show and The Big Sunday Show from 5-6 PM/ET, emphasizing diverse viewpoints. FOX News continues to dominate cable news, available in nearly 90 million homes.
Fox Corporation (Nasdaq: FOXA, FOX) will have Executive Chairman and CEO Lachlan Murdoch participating at the 8th Annual MoffettNathanson Media & Communications Summit on May 13, 2021, at 3:00 PM Eastern. A live and archived webcast will be accessible via investor.foxcorporation.com.
Fox Corporation specializes in producing and distributing news, sports, and entertainment content with brands like FOX News Media, FOX Sports, and FOX Entertainment. The company emphasizes consumer engagement and innovative product offerings.
Fox Corporation (Nasdaq: FOXA, FOX) announced its acquisition of Outkick Media, led by Clay Travis, strengthening its position in digital media and sports wagering. The acquisition aims to enhance FOX's digital portfolio, integrating Outkick's sports content across various channels. Outkick, a leader in sports and opinion content, provides significant marketing support to FanDuel. With a highly engaged audience, Outkick's platforms report over 10 million monthly listeners and substantial podcast downloads. Clay Travis will remain President of Outkick post-acquisition.
Fox Corporation (Nasdaq: FOXA, FOX) reported strong quarterly financials for the period ending March 31, 2021. Quarterly net income soared to $582 million, up from $90 million the prior year, driven largely by changes in fair value of investments. Total revenues fell to $3.22 billion from $3.44 billion, mainly due to the absence of Super Bowl LIV broadcasts. However, affiliate revenues increased by 10%. Adjusted EBITDA stood at $899 million, slightly lower than $920 million year-over-year. The company also emphasized strong results at Tubi and its sports rights expansions.
FOX News Channel has announced key leadership changes within its New York and Washington teams. Megan Albano is promoted to Vice President of weekend opinion programming, while Jerry Andrews becomes Senior Executive Producer for weekend daytime news. Greg Headen will serve as Vice President of News Coverage, managing both domestic and international assignments. Doug Rohrbeck is elevated to Senior Vice President of D.C. News, overseeing editorial coverage. Kerri Kupec will take on the role of Washington editor starting May 10. These appointments aim to strengthen FOX News' commitment to diverse perspectives and robust news operations.
FOX News Channel (FNC) continued its dominance in April 2021, ranking as the most-watched cable network across total day and primetime viewers, leading in the key 25-54 demographic. FNC attracted 1.2 million total viewers during the day and 2.2 million during primetime. Noteworthy programs included Gutfeld!, which became the top-rated cable program in its debut month, and Tucker Carlson Tonight, averaging 3 million viewers. FNC solidified its status as the leading cable news channel with significant viewer engagement, outperforming competitors CNN and MSNBC.
FOX News Media and personalities Maria Bartiromo, Judge Jeanine Pirro, and Lou Dobbs have filed replies to support their motions to dismiss a lawsuit by Smartmatic. These moves follow an earlier dismissal motion from February. The replies argue that the lawsuit poses a threat to news reporting and lack evidence of actual malice. They assert that Smartmatic, embroiled in a national controversy, cannot escape public scrutiny. The responses emphasize First Amendment protections in journalism, highlighting that the coverage of allegations is critical to democracy's truth-seeking process.
In March 2021, FOX News Digital outperformed CNN.com in total multiplatform minutes, achieving over 3.5 billion minutes. It also recorded nearly 91.5 million unique visitors and 1.7 billion views, surpassing major news competitors. The first quarter saw 5.3 billion views and over 11 billion minutes across platforms. FOXBusiness.com had strong growth, reaching 32.8 million unique visitors. Despite these achievements, there were declines in user engagement metrics year-over-year. Overall, FOX News maintained its leadership in social media engagement.
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