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Fox Corporation (FOXA) operates as a news, sports, and entertainment company, managing its businesses through various segments . The company produces and licenses content distributed through multiple platforms, primarily in the U.S., and is involved in producing, acquiring, marketing, and distributing programming . FOXA's revenue is generated from affiliate fees, advertising, and other operating activities .
- Cable Network Programming - Produces and licenses news and sports content distributed through traditional and virtual multi-channel video programming distributors and other digital platforms, primarily in the U.S. .
- Television - Involves producing, acquiring, marketing, and distributing programming through the FOX broadcast network, Tubi (an advertising-supported video-on-demand service), and 29 full-power broadcast television stations .
- Credible - Operates as a U.S. consumer finance marketplace, included in Corporate and Other due to not meeting separate reporting criteria .
- FOX Studio Lot - Provides television and film production services, included in Corporate and Other due to not meeting separate reporting criteria .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Lachlan K. Murdoch ExecutiveBoard | Executive Chair and CEO | Chair of News Corporation; Executive Chairman of Illyria Pty Ltd | Lachlan K. Murdoch has been Executive Chair since January 2019 and CEO since October 2018. He has extensive experience in media and corporate strategy, previously serving as Co-Chairman of 21CF. | View Report → |
Adam Ciongoli Executive | Chief Legal and Policy Officer | None | Adam Ciongoli joined FOXA in December 2023. He oversees legal, compliance, and regulatory matters and has nearly 30 years of legal experience, including roles at Campbell Soup Company and Lincoln Financial Group. | |
John P. Nallen Executive | President and COO | None | John P. Nallen has been with FOXA since its inception in 2019. Promoted to President and COO in February 2025, he previously served as COO and played a key role in the spinoff of FOXA from 21CF. | |
Steven Tomsic Executive | Chief Financial Officer (CFO) | None | Steven Tomsic has been CFO since October 2018. He has over 21 years of experience with FOXA and its predecessors, including roles in Europe, Asia, and Australia. | |
Chase Carey Board | Director | None | Chase Carey has been a Director since March 2019. He previously served as Vice Chairman of 21CF and CEO of Formula 1 Group, bringing decades of leadership experience in media and sports industries. | |
Margaret L. Johnson Board | Director | CEO of Agility Robotics; Board Member at BlackRock, Inc. | Margaret L. Johnson joined the Board in November 2023. She has over three decades of experience in technology leadership, including roles at Microsoft, Qualcomm, and Magic Leap. | |
Roland A. Hernandez Board | Director | CEO of Hernandez Media Ventures; Board Member at U.S. Bancorp and Take-Two Interactive Software, Inc.; Advisory Board of Harvard Law School | Roland A. Hernandez has been a Director since March 2019. He is the Chair of the Audit Committee and has extensive experience in financial reporting, corporate governance, and media management. | |
Tony Abbott AC Board | Director | Board of Trustees of the Global Warming Policy Foundation; Advisory Board of The Alliance for Responsible Citizenship; Council for the Australian War Memorial; Board of the Ramsay Center for Western Civilisation | Former Prime Minister of Australia (2013–2015), Tony Abbott AC joined FOXA's Board in November 2023. He brings expertise in public policy, trade, and international business development. | |
William A. Burck Board | Director | Global Co-Managing Partner at Quinn Emanuel Urquhart & Sullivan, LLP | William A. Burck has been a Director since June 2021. He is a leading trial lawyer and corporate counselor with extensive government service, including roles in the White House and U.S. Department of Justice. |
- With Tubi expected to cross $1 billion in revenue this fiscal year, how sustainable do you believe this growth is, especially considering rising competition in the AVOD space and potential increases in content acquisition costs?
- Affiliate fee revenues grew 3% at Cable and 10% at Television, but subscriber declines are still close to 8%; how confident are you that this moderation in subscriber losses is sustainable, and what strategies are you implementing to address long-term cord-cutting trends?
- Political advertising significantly boosted your revenues this quarter; with the election cycle concluding, how do you plan to compensate for the anticipated drop in political ad spending in the coming quarters?
- Cable expenses increased by 9%, primarily due to higher sports programming rights amortization; can you discuss the long-term profitability of your sports rights investments amid escalating costs and intense competition for viewers?
- Regarding your investment in Flutter and the exercise of your options in FanDuel, what factors are influencing your timing, and how does this align with your overall strategy in the sports betting market, especially considering the regulatory challenges in obtaining state licenses?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
MarVista Entertainment | 2021 | No specific deal value, deal structure, or strategic rationale details were provided for this acquisition. |
Three Entertainment Production Company | 2021 | While the acquisition contributed to an increase in redeemable noncontrolling interests, the documents do not provide further details on the deal value, structure, or key assets acquired. |
TMZ | 2021 | The acquisition of TMZ by FOX Entertainment was a modest but strategic move to expand FOX’s live programming and digital presence. The deal aimed to monetize and integrate TMZ’s celebrity news platform across FOX TV Stations, Tubi, and other outlets, enhancing overall brand synergy. |
Recent press releases and 8-K filings for FOXA.
- Affiliate renewals and subscriber trends: Fox renewed 25% of its affiliate base over the past 12 months and has seen a slowing trend in pay-TV subscriber declines, reflecting improved performance in its traditional media business.
- Strong Fox News performance: Fox News has experienced significant ratings gains with up to 50% increases in viewing during key periods and major national advertisers signing on, underscoring its competitive position in the broadcast space.
- Tubi revenue milestone: Tubi has surpassed a $1 billion run rate, with sequential revenue growth of 19% to 31%, combining programmatic and direct sales approaches, and is on track to reach mature margins in the 20%-25% range.
- Direct-to-consumer strategy: Fox is launching a new D2C streaming service targeting the cordless community with a modest subscriber goal in the mid-single digit millions over the next 3–5 years, leveraging existing content rights and bundled offerings without high exclusive content costs.