Welcome to our dedicated page for Fox Corporation news (Ticker: FOXA), a resource for investors and traders seeking the latest updates and insights on Fox Corporation stock.
Fox Corporation Class A Common Stock (FOXA) represents a leading force in the media industry, delivering a wide range of news, sports, and entertainment content. The company operates under two primary segments: Cable Networks and Television. Cable Networks focus on Fox News, Fox Business, and several sports channels, while Television encompasses the Fox broadcast network, 28 local television stations, and the ad-supported streaming platform, Tubi.
Fox Corporation's core brands include Fox News, Fox Sports, the Fox Network, and Fox Television Stations. These brands are not only culturally significant but also hold substantial value for distributors and advertisers. The company's extensive reach allows it to create content that captivates and informs audiences, fostering strong consumer relationships and offering compelling products.
In recent years, Fox sold a majority of its entertainment assets to Disney, pivoting its focus towards live news and sports. This strategic move emphasized the company’s strength in these areas, which remain integral to its operations primarily through pay-TV bundles.
Financially, Fox Corporation reported total quarterly revenues of $3.45 billion for the three months ended March 31, 2024. This is a decrease from the $4.08 billion reported in the prior year. The Television segment saw a 9% growth in affiliate fee revenues, contributing to the overall 4% increase in this category. Advertising revenues were impacted by the absence of Super Bowl LVII and fewer NFL games, totaling $1.24 billion compared to $1.88 billion in the previous year. Other revenues also declined due to timing issues related to sports sublicensing.
Net income for the quarter was $704 million, significantly up from a net loss of $50 million in the prior year. This improvement reflects the absence of legal settlement costs and gains from asset contributions to the United Football League joint venture. Adjusted EBITDA also saw an increase of 7%, reaching $891 million.
Fox Corporation continues to invest in and capitalize on its core strengths, while also exploring new initiatives. The company actively engages with its audience through its owned and operated television stations and streaming service, Tubi. The Murdoch family maintains control of the corporation, steering its strategic direction.
For more information about Fox Corporation, please visit www.foxcorporation.com.
FOX News Channel's Gutfeld! achieved its highest-rated telecast on September 18th, drawing 4.9 million viewers and 744,000 in the 25-54 demo. The episode featured former President Donald Trump's first late-night appearance since 2016. Gutfeld! outperformed all cable and broadcast primetime shows, including CBS's Survivor (4.7 million viewers) and ABC's The Golden Bachelorette (2.8 million viewers).
The show also surpassed other late-night programs, including CBS' The Late Show with Stephen Colbert, ABC's Jimmy Kimmel Live!, and NBC's The Tonight Show with Jimmy Fallon. Since its launch in April 2021, Gutfeld! has increased its audience by 81% in total viewers. The show attracts more Independents and Democrats than its competitors and boasts the most affluent audience in the 25-54 demo.
OutKick, a national multimedia sports platform owned by FOX , reported significant growth in August 2024. The platform saw an 8% year-over-year increase in unique visitors, reaching 5.6 million. Total multiplatform views rose by 39% to 26 million, while total multiplatform minutes increased by 19% to 23 million. Social media engagement also surged, with 1.6 million social actions across Facebook, X (formerly Twitter), and Instagram, marking a 90% increase from the previous month and a 204% year-over-year growth. Video views on these platforms, including YouTube, reached 11.1 million. OutKick, founded by Clay Travis, focuses on sports, sports culture, pop culture, and news content.
FOX News Digital led news brands in August with 3.3 billion total multiplatform minutes and 1.7 billion total multiplatform views. The platform reached 114 million unique visitors, marking a 24% year-over-year increase. FOX News dominated social media engagement with 39 million total interactions, a 62% year-over-year gain. On YouTube, FOX News saw a 48% increase in video views. FOXBusiness.com outperformed competitors, securing 175 million multiplatform views. The FOX News Mobile App attracted 6.3 million unique visitors. These figures underscore FOX News Digital's strong performance across various digital platforms and social media channels, reinforcing its position as a leading digital news source.
FOX Weather, FOX News Media's free ad-supported streaming television service, has expanded its distribution to DIRECTV. Available on channel 363 for DIRECTV customers with the Entertainment package or higher, this move significantly increases FOX Weather's reach. The service, launched in October 2021, has rapidly grown its distribution network, now including major platforms like Samsung TV Plus, Pluto TV, and YouTube TV.
FOX Weather offers 24/7 weather coverage with a team of 120 meteorologists, providing local, regional, and national reporting. The service utilizes advanced technology, including an immersive mobile 3D radar, to deliver comprehensive weather forecasting. It's accessible through various platforms, including its website, mobile apps, and connected TVs.
FOX Nation is launching a new five-episode docuseries, 'Truths with Vivek Ramaswamy', premiering on September 22, 2024. The series, hosted by former Republican presidential candidate and entrepreneur Vivek Ramaswamy, will explore conservative perspectives on various topics including American national identity, international conflicts, and religion. A condensed version will air on FOX News Channel at 10 PM/ET on the same day.
Additionally, FOX Nation will release 'Just Ask: Vivek Ramaswamy' on September 20, a one-hour forum moderated by Pete Hegseth where Ramaswamy answers audience questions. The series aims to present a positive alternative to the left's vision for the future and discuss what conservatives stand for beyond being anti-woke, anti-globalist, and anti-big government.
FOX Weather, FOX News Media's free ad-supported streaming television weather service, has appointed Jason Hermes as vice president of advertising sales and partnerships. Hermes, previously vice president of content marketing sales at The Weather Channel, will report to Dan Realson, senior vice president for FOX News Digital sales.
Hermes brings nearly three decades of experience in the advertising industry, having held positions at NBC News, NBCUniversal Media, Turner Media, and AMC Networks. At The Weather Channel, he drove new revenue streams and brand partnerships. His appointment aims to drive monetization and operations across FOX Weather's growing platform, which has become the fastest-growing weather service in the country in just three years.
Fox (Nasdaq: FOXA, FOX) has announced that Executive Chair and CEO Lachlan Murdoch will participate in the Goldman Sachs Communacopia & Technology Conference on Tuesday, September 10, 2024. The event is scheduled for 10:50am Pacific Time (1:50pm Eastern Time).
Investors and interested parties can access a live and archived webcast of the presentation through the official Fox investor relations website at investor.foxcorporation.com. This participation highlights Fox 's engagement with the investment community and provides an opportunity for stakeholders to gain insights into the company's strategies and outlook.
OutKick, a national multimedia sports platform owned by FOX , reported strong growth in July 2024. The platform achieved 25 million multiplatform views (up 8% from June) and 24 million multiplatform minutes (up 15% from June). Year-over-year, OutKick saw a 6% increase in multiplatform views and reached 8.2 million unique visitors. On social media, OutKick garnered 891k social actions and 11.2 million video views across Facebook, X (formerly Twitter), YouTube, and Instagram. The growth coincides with the launch of Ricky Cobb's new daily show on OutKick.com, featuring celebrity interviews and unique content at the intersection of sports, culture, and news.
FOX News Digital achieved its best month since January 2021 in July 2024, leading as the top news brand with 3.9 billion multiplatform minutes and 1.9 billion multiplatform views. The platform saw double-digit growth across all key performance indicators compared to the previous month and year. FOX News was the most engaged brand on social media with 42 million total interactions, a 39% year-over-year increase. FOXBusiness.com outperformed CNN Business and Bloomberg.com in multiplatform views. Compared to major competitors CNN.com and NYTimes.com, FOX News Digital showed significant growth in total views, minutes, and unique visitors.
FOX News Media has promoted Trey Yingst to chief foreign correspondent, announced by CEO Suzanne Scott. Yingst will continue to provide global coverage of international events. Additionally, he will author 'Black Saturday' for FOX News Books, set to publish on October 1st, 2024. The book offers a firsthand account of the October 7, 2023 terrorist attack in Israel and the ongoing war in Gaza.
Yingst, based in Jerusalem, was the first U.S. reporter on the scene during the Hamas attacks on Israel and continues to lead FNC's coverage of the Israel-Hamas war. He has also reported on major global events, including Russia's invasion of Ukraine and the U.S. troop withdrawal from Afghanistan. Throughout his career, Yingst has interviewed key international figures and broken numerous stories from conflict zones.
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