Stock events for Fox Corp. (FOX)
Fox Corp.'s stock experienced a 1.8% rise after surpassing quarterly expectations, driven by advertising growth and affiliate fees, and announced a $5 billion share repurchase. The Super Bowl LIX telecast significantly boosted advertising revenue. Fox acquired Caliente TV to enhance its sports presence in Mexico and is launching Fox One. Shares surged 4.8% following a strong Q2 earnings release, leading to raised revenue and EPS expectations. Arete upgraded Fox to a 'Buy' rating, adjusting the price target to $97 from $66.
Demand Seasonality affecting Fox Corp.’s stock price
Demand for Fox Corp.'s products and services is seasonal, with higher advertising revenues in the fall and lower revenues in the summer. Major sports events like the Super Bowl and World Series significantly influence advertising and affiliate fee revenues. Political advertising is crucial during election seasons, and news viewership fluctuates based on major news cycles and political events.
Overview of Fox Corp.’s business
Fox Corporation is an American mass media company focused on news, sports, and broadcast television, featuring brands like FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi Media Group. Its offerings include television programs, web portals, broadcasting, licensing, and streaming television, with key assets such as Fox Broadcasting Company, Fox News Channel, and Tubi.
FOX’s Geographic footprint
Fox Corporation primarily operates in the United States but has a global presence through international bureaus for Fox News Media, international sports event broadcasts, and global program distribution via licensing agreements. Tubi is expanding internationally, and the company is headquartered in New York City with offices in Los Angeles and Burbank, California.
FOX Corporate Image Assessment
Fox Corporation's brand reputation has been shaped by strong performance and past legal challenges. Fox News Media remains a leading cable news network, and Tubi has experienced significant growth. Fox Entertainment has achieved success with popular programming. However, the $787.5 million defamation lawsuit settlement impacted the company's public image. Rupert Murdoch retired as chairman, with Lachlan Murdoch taking over as sole chairman and CEO.
Ownership
Fox Corporation is controlled by Lachlan Murdoch through a family trust, holding 36% of the voting shares. Major institutional owners include Dodge & Cox with 3.10% ownership, State Of Wisconsin Investment Board with 2.74% ownership, and Yacktman Asset Management holding 2.64% ownership.
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$57.32
