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 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.
On February 9, 2021, Fox Corporation (Nasdaq: FOXA, FOX) announced that its streaming apps, FOX NOW and FOX Nation, are now accessible on VIZIO's SmartCast platform. This integration allows millions of users to view local and national news, sports, and entertainment content directly on their Smart TVs. The FOX NOW app features full episodes of popular shows and live sports, while FOX Nation offers exclusive content at a subscription fee. This partnership expands FOX's reach and enhances viewer engagement with its diverse programming.
Fox Corporation (NASDAQ: FOXA, FOX) reported a net income of $230 million for the quarter ended December 31, 2020, down from $314 million year-over-year, attributed to prior year's gains. Adjusted net income rose 45% to $93 million, while revenues increased 8% to $4.09 billion, driven by advertising growth, particularly in political ads and the consolidation of Tubi, Inc. Adjusted EBITDA climbed 17% to $305 million. The company declared a dividend of $0.23 per share, to be paid on April 7, 2021.
Fox Corporation (Nasdaq: FOXA, FOX) will hold a live audio webcast to discuss its second quarter fiscal 2021 financial results on February 9, 2021, at 8:30 a.m. ET. The results will be released earlier that day at 8:00 a.m. ET. Interested investors can access the live and archived webcast on the Fox Corporation investor relations website. Fox Corporation is renowned for its influential news, sports, and entertainment content through brands like FOX News, FOX Sports, and FOX Entertainment.
FOX News Media is set to launch a new advertising-supported streaming weather service, FOX Weather, in Q3 2021. Suzanne Scott, CEO of FOX News Media, announced that Sharri Berg will lead this new venture as President. The service will feature an app, an integrated website, and live programming backed by over 75 meteorologists nationwide. The initiative will utilize resources from FOX News and FOX Television Stations, aiming to enhance weather reporting and community engagement.
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