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Fox Corp.

Paramount Downgraded by Wells Fargo Analyst Who Sees Disney, Fox Upside

“Linear Pain, Few Will Gain.” Not only the title of Wells Fargo analyst Steven Cahall’s Tuesday report made for a bleak warning for Hollywood. So did his takes on cord-cutting, the focus on building out streaming businesses and more. “We think the linear business model that has underpinned media is set to decline rapidly,” Cahall […]

Murdochs See Fox Pay Packages Trimmed in 2022

Rupert and Lachlan Murdoch saw their compensation packages at Fox Corp. trimmed in the fiscal year that ended June 30, 2022. Rupert Murdoch, Fox’s chairman, received a pay package totaling $18.4 million last year. That was down from $31.1 million a year earlier. Similarly, Lachlan Murdoch, Fox’s executive chairman and CEO, received a $21.7 million […]

Lachlan Murdoch: “Unprecedented” Political Advertising Spend Fueling Fox Corp. Growth

Fox Corp., led by CEO Lachlan Murdoch, reported higher advertising and affiliate fee revenues for its fiscal fourth quarter, while overall earnings and revenue missed analyst expectations. The media company posted total revenue of $3.03 billion for the three months to June 30, up 5 percent from a year-earlier $2.89 billion. Zack Consensus Estimate forecast […]

Strong Advertising Performance at Tubi and Fox News Drives Fox Corp. Earnings

Strong advertising deliveries swung Fox Corp. back to profitability in the company’s last quarter (its fiscal Q3), after it had reported a loss in fiscal Q2. Fox reported revenues of $3.45 billion, including advertising revenues of $1.3 billion, and reported net income of $290 million. That being said, profits were down from a year earlier, […]

Fox CEO Says Company Still Needs Scripted and Unscripted Entertainment Amid “Tough” Streaming Shift

Fox Corp. CEO Lachlan Murdoch says that his company remains committed to entertainment even as it has pivoted its focus to news and sports, telling a Morgan Stanley conference that scripted dramas and reality shows are “important to bind the ecosystem” it has created. At the same time, Murdoch argued that Fox News, with its […]

NFL and Tubi Power Fox to $2.4B in Ad Revenue

The NFL delivered for Fox Corp. last quarter, helping to boost the company’s earnings and revenue, including $2.4 billion in advertising revenue. However, the company swung to a net loss in the quarter due to a change in fair value from the company’s investment in the betting company Flutter. In Fox’s fiscal Q2 (which ended […]

Fox Acquires Rights to Gumby, Plans to “Reimagine” Character

As part of the entertainment industry’s ongoing search for original intellectual property, Fox is seeing green. Fox Entertainment has acquired the Gumby franchise from the estate of Joseph Clokey, son of Gumby creator Art Clokey. The deal covers the iconic green clay-mation character, his horse Pokey, and all of the characters from Clokey’s animated universe. […]

Fox Plans In-Person “Portfolio” Upfront, Leaves Central Park for Battery Park

For the first time, Fox Corp. will hold a unified in-person upfront presentation that includes entertainment programming on the Fox broadcast network, as well as pitches for streaming service Tubi, Fox Sports and Fox News, the company said Wednesday. The in-person presentation, set for May 16, will also depart from tradition (or at least pre-pandemic […]

Discovery Buys Stake in Advanced TV Ad Joint Venture OpenAP

Discovery said on Monday that it has agreed to invest and become a minority owner of OpenAP, the advanced advertising joint venture company created by several media industry giants. Discovery joins Fox Corp., Comcast’s NBCUniversal and ViacomCBS in the joint venture whose goal is to bring “simplicity and scale to audience-based campaigns in television.” Financial […]

Entertainment Stock Picks for 2022: What Wall Street Is Bullish About

With the cost of the streaming wars accelerating, Wall Street is likely to spend much of the new year debating what subscriber trends and production budget news will mean for 2022’s stock winners and losers. And the impact of the coronavirus pandemic, notably the omicron variant, on businesses will also be in focus for analysts […]

Hollywood Stocks in 2021: Netflix Extends Gains, Disney and Discovery Drop

Coronavirus vaccines, variants and new waves of infection, global supply chain issues, Reddit-powered meme stocks, mergers and acquisitions, plus streaming hopes and fears were some of the ingredients that made 2021 another year of volatility for stocks, including those of audio entertainment companies and shares of Hollywood giants. But while the broader stock market is […]

Fox Corp. Ad Revenue Tops $1.1B Led by Live Sports, Tubi

Fox Corp. reported strong quarterly earnings Wednesday, as the TV business continued to rebound from a year earlier, when the pandemic was wrecking havoc on the advertising and TV business. The earnings, for fiscal Q1 of 2022 (the quarter that ended Sept. 30), saw the company have revenues of $3.05 billion (up 12 percent year-over-year), […]