Fox Corp: Last News

Jennifer Maas TV Business WriterMedia stocks were up when the bell rang Monday, showing growth from where they closed the Memorial Day-shortened trading week last Friday. The movement is a bit of a rally in the market, which has been trending toward bear territory for two months, that comes days before the U.S. consumer-price index release.The tech-sector heavy Nasdaq index closed at 12,012.73 on Friday, which was down 0.9% for the week and -9.5% year-to-date.

Fox Corp., which recently marked its third anniversary as a publicly traded company, has appointed Wall Street veteran Gabrielle Brown as its new head of investor relations.

Fox Corp. is boosting the presence of Tomi Lahren, with a new show at OutKick Media and as the voice of Fox News Commentary on Fox News Audio.

That in turn will have a major ripple effect across Hollywood’s creative community and the global content production ecosystem, which in recent years has been primed to operate in an environment of seemingly endless demand for new TV shows and movies. Morgan Stanley this month projected the rate of content spending by the 14 largest players in global media to expand at a 13% compound annual growth rate from 2022-25, when the tally will top $200 billion.

Brian Steinberg Senior TV EditorThe executives at the company that owns cable’s venerable Weather Channel know they have a popular service. The network has been around since 1982. Now they hope lightning will strike twice.A live-stream of the outlet will be made available via app for connected TV sets, and subscribers who already get the cable version can get it by providing details of their provider.

Todd Spangler NY Digital EditorAmid fears of a looming global recession, shares of media companies saw a mixed day of trading Friday as major market indexes marked their the longest string of weekly losses in decades.The S&P 500 index closed flat thanks to a late-session rally, but it was down for the week and is off 18.7% year to date, on the edge of the unofficial 20% threshold indicating a bear market. The Nasdaq Composite, weighted toward the tech sector, dipped 0.3% Friday and has declined 28% since the beginning of 2022. For both indexes, it’s their longest streak of weekly losses since the 2001 dot-com bust.The Dow Jones Industrial Average also was essentially flat Friday, down 2.8% for the week.

Fox Corp, Telemundo, TelevisaUnivision, Disney, YouTube, Warner Bros. Discovery, Paramount and the CW.

Fox Corp. CEO Lachlan Murdoch said seven-time Super Bowl champion Tom Brady will be much more than a Sunday night analyst for Fox Sports but a partner after inking a deal said to be worth $375 million over ten years with the Tampa Bay Buccaneers quarterback.

Senate Majority Leader Chuck Schumer called on Rupert Murdoch and other top executives of Fox Corp. and Fox News to stop the “reckless amplification” of the “great replacement theory” by some of the news channel’s hosts.

Breaking records on and off the field? Fox spoke out about the reported $375 million deal Tom Brady signed to become the network’s lead NFL analyst once he retires from football for good.

Quarterback Tom Brady has been confirmed as Fox’s lead NFL analyst, with the job waiting for him whenever his playing career finally concludes.

Tom Brady has a job lined up for when he actually does decide to retire from the NFL!

Brian Steinberg Senior TV EditorFox Corporation said profit dipped in its third fiscal quarter due to declines in value of some of its outside investments, even as revenue increased at its mainstay cable and broadcast operations.The owner of the Fox broadcast network, Fox Sports and Fox News Channel said net income attributable to shareholders came to $283 million, or 50 cents per share, compared with  $567 million, or 96 cents per share, in the year-earlier period. The company has a sizable stake in Flutter Entertainment, the sports-betting company that controls FanDuel.  Meanwhile, the company enjoyed a 7% increase in revenue, which rose to $3.46 billion from $3.22 billion a year earlier.In a statement, Fox CEO Lachlan Murdoch cited “pricing strength in both distribution and advertising revenues across our leadership brands, complemented by the powerful momentum we continue to see at Tubi,” the company’s streaming hub, as reasons for the revenue gains.

Fox Corp. delivered a mix bag of financial results in its fiscal third quarter, with revenue exceeding Wall Street expectations but earnings falling short.

Brian Steinberg Senior TV EditorSharon Osbourne will take part in a new four-part documentary series for the streaming-video outlet Fox Nation that will examine her personal and professional lives as well as her much-scrutinized exit from the CBS daytime series “The Talk.”Osbourne intends to document her experience at CBS and discuss the events that led to her departure in March of 2021. Osbourne, a colorful personality and one-time music manager, first came to broader renown in the MTV reality series “The Osbournes,” which depicted her life with rock singer Ozzy Osbourne.

More than two years into its run at Fox Corp., Tubi is ramping up in original programming, planning 100 new film and TV titles over the next year as viewership continues to rise.

Fox Corp.’s free, ad-supported streaming service Tubi is working on an expansion of its current arrangement with Nielsen that will enlarge the scope of where its viewership is measured.

After two years of virtual operations due to Covid, AMC Networks is convening an in-person upfront presentation tonight in New York, where it will highlight a number of digital ad initiatives.

Brian Steinberg Senior TV EditorEveryone’s talking about this week’s furor at the Oscars — even the hosts at Fox News Channel’s “The Five.”On Monday afternoon, regulars Greg Gutfeld, Dana Perino, Jesse Watters and Jeanine Pirro held forth with guest Piers Morgan — the British journalist and TV host who has demonstrated a proclivity for getting into celebrity feuds — sitting in a chair typically reserved for someone with more liberal political views. In the show’s opening segment, however, politics went out the window.

Brian Steinberg Senior TV EditorFox Corporation wants Madison Avenue to understand that Fox News doesn’t always mean hard-news content.As the company’s biggest generator of operating profit expands into weather news and lifestyle shows, its ad-tech division is offering new tools aimed at helping advertisers find the exact types of digital content they want to support. Fox Corp.

Brian Steinberg Senior TV EditorBenjamin Hall, the Fox News Channel correspondent who was injured while covering Russia’s invasion of Ukraine for the Fox Corp.-owned network, has managed to get out of the country, according to a memo from Suzanne Scott, Fox News Media’s CEO, issued Wednesday.“Ben is alert and in good spirits. He is being treated with the best possible care in the world and we are in close contact with his wife and family,” Scott said in the note to staffers.Fox News has deployed a handful of correspondents around the country, including Trey Yingst and Steve Harrigan.Hall had been reporting in Horenka, outside of Kyiv, Ukraine, with cameraman Pierre Zakrzewski and journalist Oleksandra “Sasha” Kuvshynova when their vehicle came under fire.