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 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.
FOX News, alongside the National Merit Scholarship Program, announced Marin Martin as the latest recipient of the Dr. Charles Krauthammer Memorial Scholarship. This scholarship awards eligible children of network employees $2,000 per college year for up to four years. Marin is a senior at Rye High School and plans to study English literature in college. Celebrating Krauthammer's legacy, CEO Suzanne Scott praised Marin's exceptional academic record. The program's selection is competitive, based solely on merit and not financial circumstances.
Fox Corporation (Nasdaq: FOXA, FOX) will announce its third quarter fiscal 2021 financial results on May 5, 2021, at approximately 4:00 p.m. ET. A live audio webcast will commence at 4:30 p.m. ET. This event will cover the company's latest financial performance and strategic initiatives in the news, sports, and entertainment sectors. Results will be accessible via their investor website. Fox Corporation leverages its brands, including FOX News Media and FOX Sports, to engage audiences and capitalize on market opportunities.
FOX News Channel has appointed KTTV-TV investigative reporter Bill Melugin as a national correspondent, effective May 3. The announcement was made by Jay Wallace, president of FOX News Media, who praised Melugin's investigative skills. Melugin, recognized with multiple awards including the Golden Mike Award and an Emmy, has a strong background in investigative journalism, having broken significant stories during his tenure at KTTV. FOX News Channel continues to lead the cable news landscape, being the most-watched news network for 19 years.
FOX News Channel achieved substantial viewership success with its new late-night show Gutfeld!, averaging 1,570,000 viewers and surpassing competitors like NBC's Tonight Show and ABC's Kimmel Live!. In its debut week, Gutfeld! dominated the 11PM/ET cable news timeslot across all demographics, including 307,000 in the A25-54 category. The show outperformed CNN and MSNBC programs, demonstrating significant audience growth with double-digit gains over the previous months. FOX News continues to lead in cable news viewership, reinforcing its strong market position.
FOX News Media has announced the hiring of former Tennessee Congressman Harold Ford Jr. as a contributor. CEO Suzanne Scott highlighted Ford's previous appearances as a valuable asset to viewers across FOX News' platforms. Ford, who has experience in both business and government, is currently the vice chairman at PNC Bank and leads Empowerment & Inclusion Capital Corporation. He emphasized his commitment to showcasing diverse voices at FOX. FOX News Media, the leading cable network, reaches 200 million viewers monthly and operates various platforms including FOX News Channel and FOX Business Network.
FOX News Media has appointed Bernard T. Gugar as General Counsel and Executive Vice President of Corporate Development, effective immediately. CEO Suzanne Scott expressed confidence in Gugar's extensive expertise, believing it will significantly benefit the brand. Gugar joins from Google, where he led strategic transactions for Google Cloud. His previous experience includes serving as Senior Vice President and General Counsel at Harpo, Inc. FOX News Media, the top-rated cable news network, reaches 200 million people monthly, operating multiple media platforms, including FOX News Channel and FOX Business Network.
FOX News Books has seen remarkable success with its debut titles, notably Shannon Bream’s The Women of the Bible Speak, which sold over 100,000 copies and topped the New York Times bestseller list. Released on March 30, it surpassed all non-fiction and advice books in launch week sales. The earlier title by Pete Hegseth, Modern Warriors, also performed well, selling over 200,000 copies. FOX News Media continues to be a leading platform for bestselling authors, reaching 200 million people monthly across its various media channels.
FOX News Media has secured former Secretary of State Mike Pompeo as a contributor, according to CEO Suzanne Scott. Pompeo will provide insights across FOX platforms, including FOX & Friends, starting Friday. He aims to deliver candid analysis on geopolitics and America's foreign policy. Pompeo, who served from April 2018 to January 2021, is known for his roles in significant diplomatic efforts, including negotiations with North Korea and strategies against Iran. FOX News Media remains the leading cable news network, reaching 200 million viewers monthly.
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