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 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.
Fox Corporation (Nasdaq: FOXA, FOX) has filed an arbitration suit against Flutter Entertainment plc to enforce its right to acquire an 18.6% stake in FanDuel Group for the same price Flutter initially paid in December 2020. The dispute is set before JAMS in New York, NY. Fox Corporation is a leading provider of news, sports, and entertainment content across popular brands such as FOX News and FOX Sports. This move is significant as it underscores Fox's commitment to expanding its influence in the sports betting market.
Tucker Carlson will interview Piers Morgan on April 5th at 4 PM ET, exclusively on Tucker Carlson Today on FOX Nation. This marks Morgan's first major interview since leaving Good Morning Britain, discussing his controversial remarks about Meghan Markle and the media landscape. The interview will also feature on Tucker Carlson Tonight at 8 PM ET on the same day. Additionally, FOX Nation has launched Tucker Carlson Today with three weekly episodes. In March, Tucker Carlson Tonight ranked as the top cable news program, attracting 3.2 million viewers.
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.
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