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 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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