By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appThanks for signing up! Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe cable bundle's decline is rapidly accelerating, and ...

Key TakeawaysFuboTV shares took off following a judge's ruling blocking launch of a new sports streaming service from Walt Disney, Fox, and Warner Bros. Discovery.The judge said FuboTV likely would win it argument that the partnership violated antitrust laws.The three companies disagree and plan to appeal. Shares of FuboTV (FUBO) surged further Monday after a judge ruled in favor of the company in its antitrust challenge to a planned joint sports streaming service by The Walt Disney Co. (DIS), Fox Corp. (FO ...

A federal judge on Friday put on pause a plan by Walt Disney, Fox and Warner Bros Discovery to launch a new sports streaming platform, saying that FuboTV is likely to be successful in proving its claim that the partnership would be anti-competitive.US District Judge Margaret Garnett in New York said in the ruling that a temporary injunction blocking the new streaming venture was appropriate.Fubo said in its Feb. 20 lawsuit that the proposed venture would “destroy competition and inflate prices for consumers ...

The Zacks Broadcast Radio and Television industry has been grappling with an escalation in cord-cutting despite a surge in demand for streaming content. However, industry players such as Netflix (NFLX) , Fox (FOXA) , Roku (ROKU) and TEGNA (TGNA) are reaping the benefits of a massive spike in digital content consumption. These companies are thriving due to their diverse content offerings, which include original, regional, and short-form content tailored for small screens like smartphones and tablets. Improve ...

Media Performance - FOX News has been the top-rated national cable news channel for over 20 consecutive years, finishing the fiscal year as the 1 cable network in Monday to Friday primetime and total day viewing among total viewers for the eighth consecutive year[18] - Tubi experienced over 40% growth in total view time in fiscal 2024 compared to the prior fiscal year, finishing with approximately 2.0% of all television viewing according to Nielsen's The Gauge[20] - FOX Entertainment featured the season's 1 new entertainment series and had four of the top comedies on television during the 2023-2024 broadcast season[19] - FOX Television Stations was the 1 or 2 rated news provider in the hours of 5 a.m. - 9 a.m. in the majority of its operating markets[20] - The FOX Network ranked 2 in the 18 to 49 and 18 to 34 year old audiences during the 2023-2024 broadcast season, and 1 in the male 18 to 49 and 18 to 34 year old audiences[50] - FOX Entertainment features top-rated programming, including the 1 new entertainment series Krapopolis and the 1 game show The Floor during the 2023-2024 season[52] Financial Performance - FOX's cash and cash equivalents at the end of fiscal 2024 were approximately $4.3 billion, with $1.25 billion returned to stockholders through stock repurchase and cash dividends[22] - FOX maintains a strong balance sheet, allowing for continued investment in growth initiatives and potential acquisitions across media categories[22] - The Company has $7.25 billion of outstanding fixed-rate debt as of June 30, 2024[303] - The fair value of borrowings liability increased from $6.895 billion in 2023 to $7.017 billion in 2024[305] - The total fair value of common stock investments decreased from $884 million in 2023 to $797 million in 2024[306] Content and Distribution - Tubi streamed approximately 9.7 billion hours of content over the fiscal year, marking a record for the platform[26] - The company launched over 140 new original titles and over 60 sports, entertainment, and local news channels on Tubi in fiscal 2024[24] - Tubi's content library expanded to over 260,000 titles, including 140 new original titles in fiscal 2024[54] - FOX News Media networks had a total of 67 million subscribers for FOX News and 65 million for FOX Business as of June 30, 2024[28] - FOX News Media operates direct-to-consumer services such as FOX Nation and FOX Weather, expanding its digital distribution capabilities[35] - FOX Entertainment Global engages in domestic and international sales and licenses of scripted and unscripted series, enhancing its distribution capabilities[55] Sports Broadcasting - FOX Sports has secured significant long-term contracts for marquee live sports broadcasts, including the NFL and FIFA World Cup[18] - FOX Sports has an expanded 11-year media rights agreement with the NFL, enhancing its coverage of NFL games and digital rights[52] - The UFL, launched in January 2024, consists of eight teams and has multi-year distribution agreements with FOX Sports and Disney/ESPN[66] Workforce and Employee Initiatives - As of June 30, 2024, the company had approximately 10,200 full-time employees[93] - The company’s internship program welcomed approximately 600 students in fiscal year 2024 and was recognized as one of the "100 Best Internships" by Vault[95] - The company provides comprehensive benefits, including medical insurance, dental and vision coverage, and a 401(k) Savings Plan with company contributions[98][99] - The company has expanded its partnership with the National Alliance on Mental Illness (NAMI) in 2024 to enhance mental health resources for employees[102] - The company launched the FOX Ad Sales Fast Future Initiative in 2021 to develop future leaders within its Ad Sales team[97] - The company’s diversity initiatives require that minority and female candidates are considered for every Director vacancy[94] - The company offers backup childcare and pet care services, as well as online academic help for employees' children[101] - The company has implemented various early career training initiatives to equip individuals with vital job skills[96] - The company’s workforce includes a significant portion of unionized employees, primarily based in the United States[93] Community Engagement and Philanthropy - The Company contributed over $9.5 million to various communities through philanthropic efforts in fiscal year 2024[111] - The FOX Giving program matched employee contributions to eligible non-profits, exceeding $1.5 million in total contributions during the fiscal year[116] - FOX's commitment to military veterans included a $2 million contribution to the Tunnel to Towers' Homeless Veteran Program[112] Regulatory and Compliance - The Company has filed all license renewal applications for its television stations, with one pending application opposed by a third party[70] - The FCC's national television ownership rule limits collective national audience reach to 39% of U.S. television households, impacting potential acquisitions[71] - The company actively monitors and adapts to evolving privacy and data security laws that impact its digital businesses[85] Environmental and Safety Initiatives - The Company has implemented a proactive Environment, Health and Safety (EHS) Program to manage risks and improve workplace safety[105] Real Estate and Assets - The FOX Studio Lot provides revenue streams from leasing office space and operating studio facilities, primarily for Disney productions until 2026[61] - FOX Television Stations owns and operates 29 full power broadcast television stations, delivering content to 38.4% of U.S. television households[44] - The Company holds a 66% equity stake in Credible Labs Inc., which operates consumer finance and insurance marketplaces in the U.S.[62] - The Company owns approximately 4.3 million ordinary shares of Flutter, representing about 2.4% equity interest as of June 30, 2024[63] Future Initiatives - A joint venture with ESPN and Warner Bros. Discovery for a digital sports distribution platform, Venu Sports, is expected to launch in fall 2024[67]

Key TakeawaysFox Corporation reported a better-than-anticipated profit and higher revenue, with growth in its affiliate fees and its Tubi free TV and movie streaming service.Affiliate fees rose 5% from a year ago, while advertising revenue was little changed.CEO Lachlan Murdoch said Fox's momentum could carry into the new fiscal year, with “another major event cycle" including the presidential election and Super Bowl. Fox Corporation (FOXA) shares jumped more than 5% in early trading Tuesday after the media ...

Fox Corporation (FOXA) reported fourth-quarter fiscal 2024 adjusted earnings per share of 90 cents, which beat the Zacks Consensus Estimate by 8.43%. The figure increased 2.3% year over year.Revenues increased 2% year over year to $3.09 billion. The figure missed the consensus mark by 0.29%.Affiliate fees (60.1% of total revenues) rose 5% to $1.86 billion, driven primarily by 9% growth in the Television segment.Advertising revenues (32.6% of total revenues) decreased 0.1% year over year to $1 billion, prima ...

Core Insights - Fox (FOXA) reported $3.09 billion in revenue for the quarter ended June 2024, a year-over-year increase of 2% and an EPS of $0.90 compared to $0.88 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $3.1 billion, resulting in a surprise of -0.29%, while the EPS exceeded expectations by +8.43% [1] Revenue Performance by Segment - **Cable Network Programming**: Revenue of $1.44 billion, exceeding the average estimate of $1.42 billion, with a year-over-year change of +2% [3] - **Television**: Revenue of $1.62 billion, slightly below the estimated $1.64 billion, reflecting a +1.8% change year-over-year [4] - **Other, Corporate and Eliminations**: Revenue of $39 million, surpassing the average estimate of $36.90 million, with a year-over-year increase of +11.4% [5] Revenue Breakdown by Component - **Cable Network Programming - Affiliate Fee**: Revenue of $1.05 billion, above the estimate of $1.04 billion, with a +2% year-over-year change [6] - **Cable Network Programming - Advertising**: Revenue of $328 million, exceeding the average estimate of $311.62 million, with a +2.5% year-over-year change [7] - **Television - Advertising**: Revenue of $679 million, slightly above the estimate of $677.86 million, showing a -1.3% year-over-year change [9] - **Television - Affiliate Fee**: Revenue of $811 million, slightly above the estimate of $808.48 million, with a +9% year-over-year change [10] - **Television - Other**: Revenue of $125 million, below the estimate of $155 million, reflecting a -19.4% year-over-year change [11] - **Revenues by Component - Affiliate Fee**: Total revenue of $1.86 billion, compared to the average estimate of $1.85 billion, with a +5% year-over-year change [12] - **Revenues by Component - Advertising**: Revenue of $1.01 billion, slightly above the estimate of $989.48 million, with a -0.1% year-over-year change [13] Stock Performance - Fox shares have returned +5.3% over the past month, contrasting with the Zacks S&P 500 composite's -6.7% change, indicating relative strength in the stock [14]

Fox (FOXA) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.43%. A quarter ago, it was expected that this TV broadcasting company would post earnings of $0.98 per share when it actually produced earnings of $1.09, delivering a surprise of 11.22%.Over the last four quarters, the compa ...

Group 1: Financial Performance - Fox reported total sales of $3.09 billion for the fiscal fourth quarter, a 2% increase from the previous year, aligning with Wall Street estimates [1] - Net income decreased to $320 million from $369 million year-over-year, with EPS at 68 cents compared to 74 cents, while adjusted EPS rose to 90 cents from 88 cents, exceeding expectations [1][2] - Affiliate fee revenues increased by 5%, driven by 9% growth in the Television segment and 2% growth in the Cable Network Programming segment [2] Group 2: Advertising and Revenue Insights - Advertising revenues remained flat compared to the prior year, with gains from Fox Sports and Tubi offset by lower ratings and pricing at the Fox Network [2] - "Other" revenues were reported at $226 million, down from $253 million in the prior year, primarily due to lower third-party content sales [2] Group 3: Strategic Outlook - The company anticipates a boost in political advertising and ratings due to the upcoming Presidential Election and Super Bowl in fiscal 2025 [3] - Fox's strategy and financial strength are highlighted as key factors for future shareholder value [3] Group 4: Corporate Developments - A family succession battle is ongoing, with Rupert Murdoch attempting to settle control of the family business, which could impact the future of Fox News [4] - Fox is set to launch a new sports streaming joint venture, Venu Sports, priced at $43.99 a month, amidst competition from Fubo [4]