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 Digital led news brands with multiplatform minutes for 38 consecutive months and reached 3 billion total multiplatform minutes in April, according to Comscore. The platform saw 1.5 billion multiplatform views and 105 million unique visitors. The FOX News Mobile App had 5.6 million unique visitors. FOX News was the most engaged news brand on social media for 116 consecutive months, with 24.8 million interactions, including 8.5 million on Facebook, 14.5 million on Instagram, and 1.8 million on X.
FOXBusiness.com achieved 162 million multiplatform views, surpassing CNN Business for the 25th month and Bloomberg.com for the 36th month, with 11% year-over-year growth. April's comparison showed FOX News Digital with 1.5 billion multiplatform views (down 1%), CNN.com with 1.2 billion views (up 9%), and NYTimes.com with 1.5 billion views (up 28%). FOX News Digital led in multiplatform minutes with 3 billion, despite an 8% decline, while CNN.com and NYTimes.com saw respective declines and growth of 2% and 30%.
FOX Nation is set to premiere 'Vietnam: Footsteps of My Father with Harris Faulkner' on May 16. This series follows Faulkner as she traces her late father Lt. Col. Bobby R. Harris' combat journey during the Vietnam War. The series offers insights into the war through the perspectives of historians, veterans, and family members.
Over three episodes, Faulkner visits significant locations, interviews veterans and historians, and shares personal stories, including her father's experiences. FOX Nation, a subscription service with over 10,000 hours of content, continues to grow rapidly, especially among Gen Z adults.
FOX News Audio is launching The FOX Business Rundown Podcast on May 20th, featuring business news from FBN anchors and correspondents. The podcast will cover trending topics like inflation, artificial intelligence, and economic policy, with insights from CEOs, lawmakers, economists, and top FBN reporters. Listeners can tune in on Mondays and Fridays to stay up-to-date on Wall Street and Main Street news.
Fox 's Chief Financial Officer, Steve Tomsic, is set to participate in MoffettNathanson's Media, Internet & Communications Conference 2024 on May 15. The event will be live-streamed and archived for viewing.
FOX reported third-quarter fiscal 2024 revenues of $3.45 billion, a decrease from the previous year. The company achieved a net income of $704 million and an adjusted EBITDA of $891 million. Affiliate fee revenues increased by 4%, while advertising revenues decreased due to the absence of Super Bowl LVII and fewer NFL games. Quarterly net income improved significantly compared to the prior year due to various factors, resulting in a positive outlook for the company.
FOX Nation announced the launch of a new historical drama series called “Outlaws and Lawmen: The West” hosted by Sean Hannity, starting on May 8th. The series will explore true stories of legendary wild west outlaws and lawmen, tracing the evolution of law enforcement from the Wild West to today.
FOX News Media, in partnership with the National Merit Scholarship Program, has named Diana Jachman and Nathaniel King as recipients of the fifth annual Dr. Charles Krauthammer Memorial Scholarship. The scholarship awards eligible children of network employees a stipend per college year for a maximum of four years. Diana Jachman is a senior at Midtown High School in Atlanta and plans to major in journalism at the Georgia Institute of Technology. Nathaniel King is a senior at Prosper High School in Texas and will major in physics at Utah State University. The scholarship program was established in 2018 and is administered by the National Merit Scholarship Program.
FOX Nation presents 'Surviving a Serial Killer' hosted by Harris Faulkner. The new series details the 1984 abduction and escape of Lisa McVey from serial killer Bobby Joe Long. The show includes interviews with McVey and key figures, highlighting her resilience and role in capturing the killer. Faulkner provides an inside look at McVey's harrowing experience and subsequent transformation into a motivational speaker and Sheriff's Deputy.
FOX Nation has acquired exclusive streaming rights to the hour-long film 'Deep in the Heart,' narrated by Matthew McConaughey. The documentary highlights Texas' wildlife and habitat, aiming to showcase the importance of conservation. The film is available on the platform from today through the fall, offering viewers a unique look into the Lone Star state's natural wonders.
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