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 has extended Bret Baier’s multi-year deal, ensuring he remains anchor and executive editor of Special Report. Baier's tenure since 2009 has seen a 53% increase in total viewers and he continues to lead in ratings. Notable highlights include record-breaking viewership during the 2020 election and major political events. Baier has earned numerous journalism awards and is also a bestselling author. FOX News Media remains the top network in cable news, reaching 200 million people monthly.
In March 2021, FOX News Channel (FNC) continued to lead as the most-watched cable news network, achieving 1.3 million total viewers during the day and 2.4 million in primetime. FNC dominated the key 25-54 demographic with 207,000 and 375,000 viewers respectively. Over the first quarter, FNC maintained its position as the top-rated channel, marking 77 consecutive quarters of primetime leadership. Notably, 'Tucker Carlson Tonight' was the highest-rated program, averaging 3.4 million viewers. Adversely, FNC experienced declines of 34% in primetime viewers compared to March 2020.
FOX News Channel (FNC) has appointed Kayleigh McEnany as co-host of the show Outnumbered, effective April 6th. CEO Suzanne Scott highlighted McEnany's political and legal expertise, which will enhance the show's discussions. Outnumbered, currently the most-watched cable news program in its timeslot, has nearly doubled its viewership since its 2014 debut, with 2 million viewers in 2020. McEnany joined FOX earlier this month, after serving as White House Press Secretary, and has a robust background in political analysis across various networks.
FOX Sports has announced an expanded partnership with the New York Racing Association (NYRA), designating itself as the official wagering partner for NYRA Bets through 2030. The deal includes a subsidiary's option to acquire a 25% stake in NYRA Bets, which reported over $225 million in wagering handle in 2020, a 100% increase from 2019. Additionally, FOX Sports will provide at least 700 hours of coverage annually of races at Belmont Park and Saratoga Race Course. This agreement aims to enhance both media rights and the growth of the sports wagering industry.
Fox Corporation (Nasdaq: FOXA, FOX) announced the appointment of Jeff A. Taylor as General Counsel, effective immediately. Taylor, who joined in 2019, will lead the company's legal function, succeeding in a role previously held by Claudia Teran, who remains Executive Vice President and General Counsel for FOX Sports. Additionally, Nicholas Trutanich, former U.S. Attorney for Nevada, will serve as Executive Vice President and Chief Ethics & Compliance Officer. The changes emphasize FOX's commitment to strong governance and compliance, particularly as the company expands into sports betting.
Fox Corporation (Nasdaq: FOXA, FOX) has secured an 11-year media rights agreement with the NFL, running through the 2033 season. This deal enhances FOX's coverage of NFC games and introduces new holiday games. It expands digital rights for direct-to-consumer opportunities, including programming on Tubi. Notably, FOX will not renew its Thursday Night Football contract after the 2022 season. Highlights also include broadcasting four Super Bowls and extending rights for FOX Bet and Spanish language broadcasts.
Fox Corporation (Nasdaq: FOXA, FOX) has partnered with Operative Media to launch the AOS platform, a cloud-native sales technology that integrates ad sales operations across its entertainment, sports, and news portfolios. This platform streamlines client inventory management and supports advanced advertising capabilities, such as real-time ad creative substitution and optimized rate cards. The partnership is aimed at enhancing Fox's ad sales efficiency and adapting to the evolving advertising landscape, allowing for deeper targeting and more flexible selling strategies.
Fox Corporation (Nasdaq: FOXA, FOX) announced that Executive Chairman and CEO Lachlan Murdoch will participate in a virtual fireside chat at the Morgan Stanley Technology, Media and Telecom Conference on March 4, 2021, at approximately 3:30 PM Eastern (12:30 PM Pacific). A live and archived webcast will be available at investor.foxcorporation.com. Fox Corporation produces and distributes engaging news, sports, and entertainment content through brands like FOX News Media and FOX Sports.
Fox Corporation (Nasdaq: FOXA, FOX) announced participation in upcoming investor conferences. Chief Operating Officer John Nallen will speak in a virtual fireside chat at the Morgan Stanley Technology, Media and Telecom Conference on March 4 at 3:30 PM Eastern. Additionally, Chief Financial Officer Steve Tomsic will present a keynote at the Deutsche Bank Media, Internet & Telecom Conference on March 9 at 12:00 PM Eastern. Live and archived webcasts will be available at investor.foxcorporation.com.
Fox Corporation announced on February 9, 2021, that Suzanne Scott has signed a new multi-year contract to continue as CEO of FOX News Media. Under her leadership since becoming the first female CEO in May 2018, FOX News Media has achieved record ratings and advertising sales, maintaining its position as the most-watched cable news network for 19 consecutive years. Scott's initiatives have also improved workplace inclusion and transparency, resulting in FOX News Media being certified as a 'Great Place to Work' in 2020. This contract underscores Scott's pivotal role in driving future growth.
FAQ
What is the current stock price of Fox Corporation Class B (FOX)?
What is the market cap of Fox Corporation Class B (FOX)?
What are the main segments of Fox Corporation?
Which brands are part of Fox Corporation?
What is Tubi?
How did Fox Corporation perform financially in the latest quarter?
What major change occurred in Fox Corporation in 2019?
Who controls Fox Corporation?
What caused the drop in advertising revenues in the latest quarter?
What is Fox Corporation's strategy moving forward?
What is the role of Fox Sports within the company?
Where can I find more information about Fox Corporation?
