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 Nation will debut a new weekly series titled “Here’s the Deal with Kellyanne Conway” starting on Thursday, July 11th. The show will feature former White House senior counselor Kellyanne Conway, providing in-depth analysis on major election topics such as predictions for 2024, the role of Independents, and key issues like inflation, immigration, and abortion. The series will continue to release new episodes every Thursday until the presidential election in November 2024. FOX Nation president Lauren Petterson praised Conway's unique insights into political campaigns, and Conway expressed her intention to offer thoughtful analysis and compelling anecdotes. FOX Nation is a direct-to-consumer streaming service offering content for FOX News' most dedicated fans, boasting nearly 10,000 hours of programming.
FOX News Channel (FNC) has achieved a significant milestone, completing 90 consecutive quarters as the number one cable network in total day and primetime viewership. According to Nielsen Media Research, FNC posted double-digit growth year-over-year across all key demographics, including a 176% viewer advantage over CNN and 61% over MSNBC in total day viewership.
FNC's top programs like 'The Five,' 'Gutfeld!,' and 'Jesse Watters Primetime' have all seen substantial viewership increases. Notably, 'Gutfeld!' has become the number one show in the late-night younger demo, while 'Jesse Watters Primetime' grew its 8 PM slot by 69% in total viewers.
FNC also dominated the coverage of the CNN presidential debate, attracting over 13.4 million viewers and 3.3 million in the 25-54 demo, massively outperforming CNN. The network's continued growth contrasts sharply with double-digit declines in key demographics for CNN and MSNBC.
Overall, FNC delivered 89 of the top 100 telecasts in cable news for the quarter, reinforcing its position as a dominant player in the cable news landscape.
Tubi, Fox 's (NASDAQ: FOXA) ad-supported streaming service, has launched in the UK, offering over 20,000 free movies and TV episodes. Tubi, which has 80 million monthly active users in North America, aims to deliver a diverse and personalized viewing experience through its extensive content library. The UK launch features curated content from major distributors like Disney and NBCUniversal, plus exclusive Tubi Originals, catering to a wide range of tastes from Hollywood blockbusters to Arthouse Cinema. The platform uses advanced machine learning for personalized recommendations and maintains a 100% free ad-supported model with minimal ads. Tubi will be accessible on major connected TV platforms, iOS, Android, and the web.
FOX News Media's simulcast of the CNN presidential debate achieved record-breaking viewership, drawing 13.4 million viewers across linear television, digital, and streaming platforms.
The FOX News Channel (FNC) led with 9.3 million viewers from 9-10:39 PM/ET and dominating the 10 PM/ET hour with 9.1 million viewers.
FNC also topped cable news during post-debate coverage, attracting 8.7 million viewers.
FOX's digital properties saw substantial engagement, with 2.2 million livestream views and a significant rise in unique viewing devices and social media interactions.
Overall, FOX captured 26% of the debate's audience share, surpassing NBC, CNN, ABC, and CBS.
FOX News Channel's Gutfeld! will broadcast live from the Republican National Convention in Milwaukee from July 15th to July 18th at 11 PM/ET. The show, hosted by Greg Gutfeld and featuring panelist Kat Timpf and three guests, will include a live studio audience from the Deer District. Gutfeld! has garnered over 2.2 million viewers and is the highest-rated late-night program, surpassing rivals like CBS' The Late Show and NBC's The Tonight Show. The program also leads in key demographics and attracts a politically diverse audience. FOX News Channel remains the top network in basic cable and the most-watched news channel for 22 consecutive years.
FOX Nation will launch a four-part historical docudrama titled “GEORGE: Rise of a Revolutionary” on July 1st. The series, hosted and executive-produced by Kelsey Grammer, will delve into the early life of George Washington. Viewers will witness Washington’s transformation from a young soldier serving the British Crown to a leading figure in America's revolt against British rule. The show combines dramatic reenactments and expert commentary to provide a fresh perspective on this pivotal historical figure. Grammer, known for his roles in “Frasier” and “Cheers,” brings his extensive experience to this project, aiming to portray George Washington's story in a compelling manner. FOX Nation is a streaming service with over 10,000 hours of content, including historical documentaries, launched in 2018. It is recognized among the fastest-growing brands of 2023 by Morning Consult, particularly popular among Gen Z adults.
OutKick has announced that Ricky Cobb, known for his popular @Super70sSports feed, will host a new daily show launching later this summer. Cobb's show will build upon his humor and extensive knowledge of sports and culture. In addition to his own show, Cobb will appear on other OutKick programs such as Don’t @ Me with Dan Dakich and OutKick The Morning with Charly Arnolt. OutKick's Senior Vice President, Gary Schreier, expressed excitement about Cobb joining the team, noting that this addition will make OutKick even more engaging and entertaining. Cobb, who has a background as a sociology professor, stated that hosting this show aligns with his passion for entertaining and sparking critical thought. OutKick is a rapidly growing multimedia platform owned by FOX , reaching millions of fans each month through various digital channels.
FOX News Media will present a simulcast of the CNN presidential debate between President Joe Biden and former President Donald Trump on June 27 in Atlanta, Georgia. The coverage will be part of their special programming series, “FOX News Democracy 2024.”
Major FOX News personalities including Bret Baier, Martha MacCallum, Jesse Watters, and Sean Hannity will provide extensive commentary and analysis. The event will be broadcast across multiple FOX platforms including FOX News Channel, FOX Business Network, FOX News Digital, FOX News Audio, and FOX Nation.
Special segments and pre-debate analysis will begin at 7 PM/ET, followed by the debate coverage from 9-11 PM/ET. Post-debate analysis will continue late into the evening and the next day across various FOX News programs and digital platforms.
Additional live content and updates will be available via FOX News Digital, FOX News Mobile App, and social media channels.
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.
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