Fox Corp Stock Price, News & Analysis

Fox Corporation (Nasdaq: FOXA, FOX) announced its acquisition of Outkick Media, led by Clay Travis, strengthening its position in digital media and sports wagering. The acquisition aims to enhance FOX's digital portfolio, integrating Outkick's sports content across various channels. Outkick, a leader in sports and opinion content, provides significant marketing support to FanDuel. With a highly engaged audience, Outkick's platforms report over 10 million monthly listeners and substantial podcast downloads. Clay Travis will remain President of Outkick post-acquisition.

Fox Corporation (Nasdaq: FOXA, FOX) reported strong quarterly financials for the period ending March 31, 2021. Quarterly net income soared to $582 million, up from $90 million the prior year, driven largely by changes in fair value of investments. Total revenues fell to $3.22 billion from $3.44 billion, mainly due to the absence of Super Bowl LIV broadcasts. However, affiliate revenues increased by 10%. Adjusted EBITDA stood at $899 million, slightly lower than $920 million year-over-year. The company also emphasized strong results at Tubi and its sports rights expansions.

FOX News Channel has announced key leadership changes within its New York and Washington teams. Megan Albano is promoted to Vice President of weekend opinion programming, while Jerry Andrews becomes Senior Executive Producer for weekend daytime news. Greg Headen will serve as Vice President of News Coverage, managing both domestic and international assignments. Doug Rohrbeck is elevated to Senior Vice President of D.C. News, overseeing editorial coverage. Kerri Kupec will take on the role of Washington editor starting May 10. These appointments aim to strengthen FOX News' commitment to diverse perspectives and robust news operations.

FOX News Channel (FNC) continued its dominance in April 2021, ranking as the most-watched cable network across total day and primetime viewers, leading in the key 25-54 demographic. FNC attracted 1.2 million total viewers during the day and 2.2 million during primetime. Noteworthy programs included Gutfeld!, which became the top-rated cable program in its debut month, and Tucker Carlson Tonight, averaging 3 million viewers. FNC solidified its status as the leading cable news channel with significant viewer engagement, outperforming competitors CNN and MSNBC.

FOX News Media and personalities Maria Bartiromo, Judge Jeanine Pirro, and Lou Dobbs have filed replies to support their motions to dismiss a lawsuit by Smartmatic. These moves follow an earlier dismissal motion from February. The replies argue that the lawsuit poses a threat to news reporting and lack evidence of actual malice. They assert that Smartmatic, embroiled in a national controversy, cannot escape public scrutiny. The responses emphasize First Amendment protections in journalism, highlighting that the coverage of allegations is critical to democracy's truth-seeking process.

In March 2021, FOX News Digital outperformed CNN.com in total multiplatform minutes, achieving over 3.5 billion minutes. It also recorded nearly 91.5 million unique visitors and 1.7 billion views, surpassing major news competitors. The first quarter saw 5.3 billion views and over 11 billion minutes across platforms. FOXBusiness.com had strong growth, reaching 32.8 million unique visitors. Despite these achievements, there were declines in user engagement metrics year-over-year. Overall, FOX News maintained its leadership in social media engagement.

FOX News, alongside the National Merit Scholarship Program, announced Marin Martin as the latest recipient of the Dr. Charles Krauthammer Memorial Scholarship. This scholarship awards eligible children of network employees $2,000 per college year for up to four years. Marin is a senior at Rye High School and plans to study English literature in college. Celebrating Krauthammer's legacy, CEO Suzanne Scott praised Marin's exceptional academic record. The program's selection is competitive, based solely on merit and not financial circumstances.

Fox Corporation (Nasdaq: FOXA, FOX) will announce its third quarter fiscal 2021 financial results on May 5, 2021, at approximately 4:00 p.m. ET. A live audio webcast will commence at 4:30 p.m. ET. This event will cover the company's latest financial performance and strategic initiatives in the news, sports, and entertainment sectors. Results will be accessible via their investor website. Fox Corporation leverages its brands, including FOX News Media and FOX Sports, to engage audiences and capitalize on market opportunities.

FOX News Channel has appointed KTTV-TV investigative reporter Bill Melugin as a national correspondent, effective May 3. The announcement was made by Jay Wallace, president of FOX News Media, who praised Melugin's investigative skills. Melugin, recognized with multiple awards including the Golden Mike Award and an Emmy, has a strong background in investigative journalism, having broken significant stories during his tenure at KTTV. FOX News Channel continues to lead the cable news landscape, being the most-watched news network for 19 years.