Fox Corporation (FOXA)

Sector: Communication Services|Industry: Entertainment|Market Cap: $22.53B|Employees: 10.2K


Fox Corporation is a news, sports, and entertainment company that operates through Cable Network Programming and Television segments. It produces and licenses news and sports content, distributes programming through broadcast networks and digital platforms, and has a significant presence in major U.S. markets. The company differentiates itself through its iconic brands, live content focus, and broad distribution across traditional and digital platforms.

  1. Filings
  2. Company Profile

Business Summary

FOX Corporation is a news, sports, and entertainment company that manages its businesses in four operating segments: Cable Network Programming, Television, Credible, and the FOX Studio Lot. The company produces and licenses news and sports content, distributes programming through its broadcast network and television stations, and operates a consumer finance marketplace. FOX differentiates itself through its iconic brands, premium programming focused on live content, and a broad distribution across traditional and digital platforms. The company has a significant presence in major domestic markets.

Key Statistics

  • Employees: Approximately 10,200 full-time employees (as of June 30, 2024)
  • Geographic Footprint: Primarily in the U.S.
  • Headquarters: New York, New York
  • Founded: 2018
  • Number of locations/facilities: 29 full power broadcast television stations, including 11 duopolies, and the FOX Studio Lot in Los Angeles
  • Revenue: $14 billion (FY2024)
  • Key Subsidiaries/Brands: FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, Tubi Media Group

Leadership

  • CEO: Lachlan K. Murdoch
  • CFO: Steven Tomsic
  • Board Chair: Lachlan K. Murdoch

Key Financial Metrics

  • Annual Revenue: $14 billion (FY2024)
  • Net Income: $1.55 billion (FY2024)
  • Total Assets: $21.97 billion (as of June 30, 2024)
  • Number of Employees: Approximately 10,200 (as of June 30, 2024)
  • Key Financial Highlights: Revenue decreased by 6% year-over-year, net income increased by 24% year-over-year (FY2024)

Products and Services

  • Cable Network Programming: Produces and licenses news and sports content for distribution through traditional and virtual MVPDs and other digital platforms. Key brands include FOX News Media and FOX Sports.
  • Television: Produces, acquires, markets and distributes programming through the FOX broadcast network, the Tubi AVOD service, 29 full power broadcast television stations, and other digital platforms. Key brands include FOX Entertainment and FOX Television Stations.
  • Credible: Operates a U.S. consumer finance marketplace.
  • FOX Studio Lot: Provides television and film production services along with office space and studio operation services.

Key Business Segments

  • Cable Network Programming: Generates revenue through affiliate fees and advertising sales. Includes FOX News Media and FOX Sports.
  • Television: Generates revenue through affiliate fees, advertising sales, and content licensing. Includes the FOX broadcast network, Tubi, and owned and operated television stations.

Business Strategy

FOX's strategic priorities include maintaining leading positions in live news, live sports, and quality entertainment, increasing revenue growth through high-quality content, and expanding digital distribution offerings. The company aims to leverage its strong brands and content to drive audience engagement and growth across platforms. Key initiatives include digital brand extensions, investments in content and technology, and strategic partnerships.

Industry Context

  • Primary Industry: News, sports, and entertainment media
  • Market Trends: Shift towards direct-to-consumer offerings, increased competition from new entrants, evolving consumer preferences, and technological advancements.
  • Key Competitors: Other broadcast and cable networks, direct-to-consumer streaming services, digital media platforms, and other content providers.

Risk Factors

  • Market Risks: Changes in consumer behavior, evolving technologies, and increased competition could adversely affect the company's business model and revenue streams.
  • Operational Risks: The company's dependence on a limited number of distributors and its ability to renew affiliation and carriage agreements on favorable terms could impact its financial performance.
  • Financial Risks: Declines in advertising expenditures, economic conditions, and volatility in financial markets could negatively affect the company's revenues and profitability.
  • Regulatory Risks: The company is subject to various federal and state laws and regulations, including those related to broadcasting, privacy, and data security, which could result in increased compliance costs and penalties.
  • Cybersecurity Risks: The company is subject to cybersecurity threats and attacks, which could disrupt its operations and result in the improper disclosure of personal data or other confidential information.

Last Updated

2024-08-08

(Generated from latest 10-K filing)