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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.
OutKick, a national multimedia sports platform owned by FOX , reported a 3% increase in unique visitors in May 2024, reaching 5.5 million. This marks the second highest month-over-month growth compared to its competitors. Additionally, OutKick saw 23 million total multiplatform views and 20 million total multiplatform minutes. The platform also experienced a 6% increase in video views across Facebook, X (formerly Twitter), and YouTube, totaling over 11.1 million views. Social actions across Facebook, X, and Instagram exceeded 912,000 in May 2024.
Fox (NASDAQ: FOX) and The Trade Desk (NASDAQ: TTD) have announced an expanded partnership focused on advertising innovations across Fox's portfolio. This collaboration integrates Unified ID 2.0 and OpenPath technologies through the AdRise platform, enhancing addressable inventory precision and direct access to premium inventory. Tubi, part of Fox since 2020, will use these technologies across all Fox brands, including Fox Sports and Fox News Media. This partnership aims to create value for advertisers and advance industry transparency and identity standards. Fox CEO Paul Cheesbrough highlights the importance of this integration for engaging authenticated audiences at scale.
Fox (Nasdaq: FOX) announced the next phase of development for its Verify protocol, an open-source system for content verification and licensing. TIME has joined as the first external publishing partner, using Verify to enhance content authenticity. Originally launched on Polygon's Proof-of-Stake network, Verify will transition to an independent zero-knowledge blockchain built with Polygon's Chain Development Kit (CDK). Over 300,000 pieces of content from FOX have already been signed to the Verify content graph. This protocol aims to bridge media companies and AI platforms, introducing new commercial opportunities. Gelato will assist in implementing the dedicated chain.
FOX News Digital led the news sector in May with 3.2 billion multiplatform minutes and 1.7 billion multiplatform views, showing month-over-month growth according to Comscore. The platform had 100 million unique visitors, and its mobile app reached 5.8 million unique visitors. FOX News also recorded 26.4 million social interactions, maintaining its top position for 117 consecutive months. On YouTube, it garnered 175.3 million video views. FOXBusiness.com saw 177 million multiplatform views, surpassing competitors CNN Business and Bloomberg.com, achieving 9% growth. The business site delivered 255 million multiplatform minutes and 23.3 million unique visitors. On YouTube, FOX Business videos remained the most viewed among business news platforms with 60.6 million views, marking 14% growth.
FOX News Media has promoted Jacqui Heinrich to senior White House correspondent, as announced by President and Executive Editor Jay Wallace. Heinrich, who joined FOX News in 2018, has been covering the White House since 2021 and will continue to cover national and international activities of the President and administration issues. With a track record of significant reporting including the 2023 Iran prisoner swap and the ongoing Israel-Hamas war, Heinrich has traveled with President Biden to 17 countries. She is also a three-time Emmy-award-winning journalist and serves on the White House Correspondents Association’s board. Heinrich will continue co-hosting FOX News Audio’s FOX News Rundown podcast. FOX News Media, owned by Fox , operates multiple channels and services, reaching nearly 200 million people monthly.
FOX News Media has elevated Peter Doocy to the position of Senior White House Correspondent. This promotion by President and Executive Editor Jay Wallace will see Doocy continue his comprehensive coverage of both domestic and international activities involving the U.S. President and key administrative issues. Wallace expressed high regard for Doocy's dedication to delivering hourly news updates directly from the White House since his initial assignment post-2020 campaign trail. Doocy has a rich history with FOX News, reporting on significant events such as the 80th anniversary of D-Day, the Israel-Hamas conflict, and Russia’s invasion of Ukraine. His career includes coverage of major political elections since 2009 and hosting FOX Nation and FNC documentaries. FOX News Media, under Fox , operates multiple media platforms and remains the leading cable network for 22 years.
FOX News Books has delivered its latest number one nonfiction book, 'The War on Warriors,' by Pete Hegseth, to the top of the New York Times bestseller list. This achievement marks Hegseth's fourth New York Times bestseller and his second under the FOX News Books imprint. Since its inception in 2020, the imprint has sold over 2.5 million books across 11 titles. 'The War on Warriors' has sold over 60,000 copies since its release on June 4th and explores the impact of changes in the military on service members and national security. The book has received particular resonance among active troops, veterans, and military families. FOX News Books has partnered with HarperCollins Publishers for this and other successful releases.
Fox (Nasdaq: FOXA) has expanded its partnership with FreeWheel to enhance its dynamic ad insertion capabilities for College Football broadcasts on FOX. This collaboration will see FreeWheel serve as the primary monetization engine for Tubi and the entire One FOX portfolio, integrating with FOX's AdRise to streamline access to premium video ad inventory. This move aims to offer advertisers more targeted, contextually rich ad opportunities in live sports. FreeWheel's technology, including Beeswax, will create a unified pool of premium video ad inventory, making it more accessible to marketers.
FOX News Media has announced the addition of Mary Katharine Ham as a contributor. Ham, a journalist, author, and speaker, will provide analysis across the network’s platforms starting today on America’s Newsroom. She is also a columnist for OutKick and the host of the bi-weekly podcast 'Getting Hammered' alongside Vic Matus. Ham has a notable history, having co-moderated a Republican presidential primary debate for ABC News in 2016 and co-authored a book with Guy Benson. She returns to FOX News after previous stints from 2007-2015 and a period at CNN, where she departed following a suspension in 2022. FOX News Media, a division of Fox , operates several news and business channels, reaching nearly 200 million people monthly. The network has been the top watched television news channel for 22 years.
OutKick, a national multimedia sports platform owned by FOX, reported significant growth in April 2024 with 24 million total multiplatform views and 22 million total multiplatform minutes.
The platform also attracted over 5.3 million unique visitors, according to Comscore data. On social media, OutKick achieved over 930K total social actions and 8.8 million video views across Facebook, X (formerly Twitter), and YouTube.
Additionally, the show 'Tomi Lahren is Fearless' will now air live every weekday at 1 PM/ET on OutKick.com, instead of its previous schedule of three days a week at 7 PM/ET.
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