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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.
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.
FOX News Media has made over 30 original podcasts and three nationally syndicated talk shows from FOX News Radio available for streaming on Amazon Music, reaching over 55 million customers. This move allows Amazon Music users to enjoy popular shows like The Brian Kilmeade Show and The Five through iOS, Android apps, and Amazon Echo devices. FOX News Podcasts ranked among the top 20 podcast publishers in November 2020, highlighting their prominence in the audio content market. FOX News Media, a division of FOX Corporation, reaches 200 million people each month.
FOX News Channel has appointed Tom Lowell as Executive Vice President and Managing Editor of News. Reporting to President Jay Wallace, Lowell will manage all daytime news editorial and resources. Suzanne Scott, CEO of FOX News Media, highlighted his significant contributions to the network over 17 years, including launching several top-rated programs like America’s Newsroom. Lowell expressed gratitude for leading the daytime news team, indicating confidence in its continued success.
FOX News Channel (FNC) maintained its status as the most-watched cable network in November, marking 53 consecutive months in this position. The network recorded its highest-rated November in primetime among total viewers and the key 25-54 demographic. FNC averaged 1.9 million total viewers and 3.9 million in primetime, achieving a 41% advantage over CNN. Tucker Carlson Tonight led with 5.1 million viewers. FNC’s primetime lineup saw significant year-over-year increases, with Tucker Carlson Tonight up 49% and Hannity up 39% in total viewers.
Fox Corporation (Nasdaq: FOXA, FOX) announced Chief Financial Officer Steve Tomsic will participate in the UBS Global TMT Virtual Conference on December 8, 2020, at 2:50 PM Eastern Time. A live and archived webcast of the presentation will be accessible via the investor.foxcorporation.com website.
Fox Corporation is a leader in producing and distributing news, sports, and entertainment content through brands such as FOX News Media and FOX Sports.
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.
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