Fox Corporation

Fox Corporation is an American multinational mass media company, established in 2019 following the acquisition of 21st Century Fox by The Walt Disney Company. The assets not acquired by Disney were spun off to form Fox Corporation. Headquartered in New York City, the company is involved in television broadcasting, news, sports, and entertainment production and distribution. Its key brands include FOX News, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi.

Fox News Media has maintained its position as the most-watched television news channel in the U.S. for over 18 consecutive years. FOX Sports, encompassing networks like FS1, FS2, FOX Deportes, and FOX Soccer Plus, delivers comprehensive sports coverage across multiple platforms. The company also owns a majority stake in the Big Ten Network.

FOX Television Stations, a division of the corporation, operates 29 full-power broadcast stations across the U.S., with 18 affiliated with the FOX Network. These stations produce close to 1,000 hours of local news each week. Additionally, Tubi offers ad-supported streaming services, expanding the company’s digital presence.

Fox Corporation is controlled by the Murdoch family, holding a 39.6% ownership share through a family trust, with Rupert Murdoch as chair emeritus and his son Lachlan Murdoch as executive chair and CEO. In September 2023, Rupert Murdoch announced he would step down as chair in November 2023.

With over 7,700 employees, Fox Corporation ranks among the top 2,000 public companies globally. Its strategic focus includes continuous investments in high-growth areas within the media sector, ensuring sustained revenue growth and profitability amidst a competitive industry landscape.

Fox Corporation traces its origins back to the Fox Film Corporation, founded by William Fox on 1 February 1915. It quickly became a key player in the film industry, producing and distributing successful films. In 1935, Fox Film Corporation merged with 20th Century Pictures to form 20th Century Fox, marking the beginning of a major Hollywood studio's prominence.

In 1985, Rupert Murdoch’s News Corporation acquired 20th Century Fox, expanding his global media presence. Under Murdoch’s leadership, the company grew, diversifying its assets. In 2013, News Corporation underwent a corporate restructuring, leading to the separation of its entertainment and publishing arms. This resulted in the creation of 21st Century Fox for entertainment assets and News Corp for publishing.

By December 2017, The Walt Disney Company announced its intent to acquire significant portions of 21st Century Fox, including 20th Century Fox’s film and TV studios, for $52.4 billion. However, key assets such as Fox’s television network, Fox News, and Fox Sports were excluded from the deal, leading to the formation of "New Fox", or Fox Corporation. This new entity officially began trading as Fox Corporation on the S&P 500 index on 19 March 2019. Rupert Murdoch serves as Chair Emeritus, while his son, Lachlan Murdoch, took the roles of Executive Chair and CEO. The Murdoch family controls 39.6% of the company through a family trust.

Fox Corporation operates in the television broadcast, news, and sports sectors. Key assets include the Fox Broadcasting Company, Fox Television Stations, Fox News, Fox Business, and the national operations of Fox Sports. Fox News has been a leading television news channel for over 18 years, and Fox Sports continues to provide comprehensive sports coverage through channels like FS1, FS2, and Fox Deportes.

Following its formation, Fox Corporation made strategic acquisitions to expand its portfolio. In May 2019, it purchased a 4.99% stake in The Stars Group, a Canadian online gambling operator, which led to the development of Fox Bet, a sports betting platform for the U.S. market. Additionally, Fox acquired Credible Labs, an online marketplace for consumer credit products, and Bento Box Entertainment, an animation studio, to strengthen its entertainment offerings.

One of Fox’s major digital investments came in April 2020, with the acquisition of streaming service Tubi for $440 million. This move expanded Fox’s digital content distribution capabilities, adding a popular ad-supported streaming platform to its portfolio.

In 2021, Fox Corporation further strengthened its entertainment business by acquiring TMZ from WarnerMedia. TMZ operates under Fox Entertainment and is known for its coverage of celebrity news. Additionally, Fox acquired the film and television production studio MarVista Entertainment in late 2021, further expanding its content creation capabilities.

Fox continued its growth in the entertainment sector with the establishment of Fox Entertainment Studios in September 2022, marking the company’s entry into in-house television production. The studio’s first release was the show Monarch, and Fox also launched Fox Entertainment Global to re-enter the international distribution business.

In terms of corporate strategy, Fox Corporation has consistently aimed to invest in high-growth initiatives. In May 2019, Lachlan Murdoch announced during a town hall meeting that stock would be issued to employees based on longevity, highlighting the company’s commitment to rewarding its workforce.

The company also considered a re-merger with News Corp in October 2022, under Rupert Murdoch’s direction, which would have reunited the two entities that split in 2013. However, the merger proposal was abandoned in January 2023.

Fox Corporation’s presence in the media industry remains significant, with a wide array of assets delivering news, entertainment, and sports content globally. It continues to be led by the Murdoch family, with Rupert Murdoch serving as Chair Emeritus and Lachlan Murdoch as Executive Chair and CEO. Through continuous investments in growth sectors and strategic acquisitions, Fox Corporation ensures its position as a major media player.

Fox Corporation’s mission is to produce and distribute culturally significant content that informs, entertains, and engages audiences globally. Through its brands, such as FOX News, FOX Sports, FOX Entertainment, and Tubi, the company is committed to delivering high-quality programming across various media platforms. Fox empowers a diverse range of creators, driving innovation in the media industry, and aims to provide valuable content that meets viewer, distributor, and advertiser demands. By focusing on operational expertise, strategic investments, and creative vision, Fox continues to build a leading organisation in the ever-evolving media landscape.

Fox Corporation envisions a future where its media platforms continue to lead in delivering trusted news, impactful sports coverage, and compelling entertainment. The company aspires to be the global leader in media innovation, fostering creativity, diversity and thought leadership. Fox’s vision is to shape the future of broadcasting and streaming by staying at the forefront of technological advancements while maintaining its core values of excellence and integrity. By investing in sustainable growth and strategic opportunities, Fox aims to create a lasting impact on audiences worldwide, ensuring its continued relevance in a rapidly changing industry.

Fox Corporation offers a range of products and services across various media platforms. Here are some of the key products and services provided by the company:

• Television Programs: Fox Corporation produces and broadcasts a wide array of television programs across different genres, including drama, comedy, reality TV, animation, and more. Some notable shows produced by Fox include "9-1-1," "The Masked Singer," "Empire," "The Simpsons," and "American Idol."
• News Services: Fox News is one of the prominent news services offered by the company. It provides 24/7 news coverage, analysis, and commentary on current events, politics, business, and other topics. Fox News is known for its conservative-leaning programming and has been the most-watched cable news channel for several years.
• Sports Broadcasting: Fox Sports is a major division of Fox Corporation that covers a wide range of sports events and leagues. It includes national networks like FS1 (Fox Sports 1) and FS2 (Fox Sports 2), which provide live sports coverage, analysis, and original programming. Fox Sports also holds a majority stake in the Big Ten Network, which focuses on collegiate sports.
• Broadcasting Stations: Fox Corporation owns and operates a network of broadcast television stations across the United States. These stations, affiliated with the FOX Network, distribute a variety of programming, including sports, entertainment, and syndicated content. Additionally, the television stations collectively produce local news broadcasts, providing news coverage specific to their respective regions.
• Web Portals and Streaming Services: Fox Corporation offers web portals and streaming services to deliver content to viewers across digital platforms. These services may include streaming platforms for live sports events, on-demand access to TV shows and movies, and digital news platforms for accessing news content online.
• Licensing and Distribution: Fox Corporation engages in licensing and distribution activities to extend the reach of its content and brands. This involves partnering with other media companies, broadcasters, and streaming platforms to distribute and monetize its programming globally.