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 Nation, the subscription-based streaming service from FOX News Media, will launch its first original holiday film, Christmas in the Rockies, on November 26th. The film, produced by Brain Power Studio and INSP Films, follows a young woman named Katie Jolly as she faces family and business challenges after her father's injury. The movie will feature cameos from FOX & Friends co-hosts Steve Doocy and Ainsley Earhardt. FOX Nation has also secured rights to additional holiday films such as Christmas on the Range and Christmas on the Coast.
In October 2020, FOX News Digital achieved record-breaking performance with nearly 2.2 billion multiplatform views, marking a 16% year-over-year increase. The network maintained over 100 million unique visitors for the eleventh consecutive month. FOX's mobile app surpassed CNN for the 23rd month, registering 8.9 million unique users. Election Week drove engagement with a peak of over 3 million concurrent users and a staggering 312% increase in time spent compared to 2016. FOXBusiness.com also saw over 30 million unique visitors, reflecting substantial growth across all key metrics.
Fox Corporation (Nasdaq: FOXA, FOX) reported a 2% increase in total revenues to $2.72 billion for Q1 FY2021, driven by a 10% rise in affiliate revenues. However, advertising revenues fell 7%, impacted by COVID-19 delays in live events and programming. Net income surged to $1.12 billion from $513 million, primarily due to lower operating expenses and a reimbursement from Disney. Adjusted EBITDA rose 36% to $1.17 billion. While FOX News Media saw growth, uncertainties remain due to potential impacts of COVID-19 on future revenue streams.
FOX Business Network (FBN) will provide extensive live coverage of the 2020 presidential election on November 3rd, starting at 7 PM ET. Anchored by Neil Cavuto, the program titled Democracy 2020: Election Night will feature market reactions and expert analyses from renowned figures like Maria Bartiromo and Lou Dobbs. Coverage will include real-time updates from key battleground states and will continue the following morning with special programs focusing on market impacts. The network aims to inform viewers about the election's effects on finances and the economy.
FOX News Channel (FNC) will deliver comprehensive live coverage for Election Day 2020 from October 31 to November 4. Key anchors Bret Baier and Martha MacCallum will lead the coverage, supported by a team of journalists across various platforms, including FOX News Digital and FOX News Radio. On election night, a special eight-hour live broadcast will feature analysis and updates from multiple correspondents. FNC, the leading cable news network, is set to provide real-time election results and voter analysis through its digital and radio platforms.
FOX Nation is set to host its second annual Patriot Awards virtually on November 20, 2020. The event, led by Army veteran Pete Hegseth, will honor military veterans, first responders, and other inspiring figures. Prominent personalities from FOX will present awards in various categories including The Everyday Patriot and Heroism. Musical performances by country stars will enhance the show. Additionally, from November 13-22, FOX Nation will donate $5 for each new subscription to Answer the Call, supporting families of fallen first responders.
FOX News Channel (FNC) concluded October as the most-watched cable network, marking 52 consecutive months in top spot. FNC achieved its highest-rated October on record, led by Tucker Carlson Tonight, which broke viewership records with over 5.3 million viewers. The network saw a year-over-year increase of 57% in total day viewers and 83% in primetime. FNC claimed 69 of the top 100 telecasts and outperformed CNN by 65% in total viewership. All key programs in primetime set new ratings milestones, further solidifying FNC's position in cable news.
FOX Business Network (FBN) will air America Votes Together on Tuesday, October 27 at 2PM/ET. Hosted by Charles Payne, the virtual town hall focuses on how presidential candidates' economic policies may affect Americans' finances a week before the 2020 election. The program features insights from FBN experts, including Neil Cavuto and Liz Claman, addressing voters' economic concerns amidst the COVID-19 crisis. Viewers can submit questions for the panel via email. FBN is a leading financial news channel available in nearly 80 million homes across the U.S.
FOX News Media will introduce innovative election technology during the 2020 presidential race coverage on November 3. Broadcasting from Studio F, the team will employ immersive 3D graphics and advanced studio tech for real-time updates. Key features include the Presidential Race Scoreboard and Predictability Meters, which will analyze race outcomes with statistical models. The FOX News Digital platform will offer state-level visual data and real-time results. FOX News Digital and Mobile App will provide up-to-date election news, enhancing viewer engagement throughout the election night.
FOX News Media has confirmed that John Roberts will continue as the chief White House correspondent under a new multi-year contract. CEO Suzanne Scott praised Roberts for his extensive experience and contributions to political coverage. With a career spanning over two decades, he has reported on numerous significant events, including presidential elections and major crises. FOX News Channel remains the leading network in cable news, reaching 200 million viewers monthly.
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