Welcome to our dedicated page for Fox news (Ticker: FOX), a resource for investors and traders seeking the latest updates and insights on Fox 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 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.
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.
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