EARNINGS CALL

Auto On The Rebound For Fox Stations

CEO Lachlan Murdoch said today: “We’re currently seeing a return to growth in the auto category for the first time in a couple of years. This stability of the base market provides a strong foundation for the upcoming political cycle, where the outlook is remarkably strong.”

Cybersecurity For Broadcasters Retreat: Security & Modernizing Broadcast Tech

Executives from Fox Corp., Sinclair, E.W. Scripps and WGBH Boston will discuss how media companies are revamping their technology and building new workflows as a hedge against cybersecurity threats in a panel at TVNewsCheck’s Cybersecurity for Broadcasters Retreat at the NAB New York Show. Register here.

Fox Corp., Verizon Set New Multiyear Distribution Deal

The agreement includes the continued distribution of the full portfolio of Fox brands including Fox News Media, Fox Sports, Fox Network and local Fox O&Os. Fox Weather will also be added to the Fios TV lineup, and Tubi will be included in both Fios TV set top boxes, as well as on many other platforms.

TVN TECH

Fox Pulls Back Curtain On Its Major Tech Transformation

Fox Corp. CTO and President of Digital Paul Cheesbrough and Jeff Dow, its EVP, media & broadcast operations, offered a rare glimpse into how the company built a new cloud-centric architecture that feeds all of its broadcast and digital streams in a TVNewsCheck webinar last week.

Rupert Murdoch And Jerry Hall Said To Be Divorcing

The media mogul’s fourth divorce is unlikely to change the ownership structure of Murdoch’s empire, but it could reverberate through companies such as Fox News and The Wall Street Journal.

Fox Corp. Must Face Defamation Lawsuit Over Election Coverage

A Delaware judge on Tuesday rejected a motion by the parent of Fox News Channel to dismiss Dominion Voting Systems Inc.’s $1.6 billion defamation lawsuit over the network’s 2020 presidential election coverage. Delaware Superior Court Judge Eric Davis, who last December said Dominion could sue Fox News Channel, said the voting machine company can also sue Fox Corp. on a theory it was directly liable for statements on the network.

TVN Webinar: Fox Corp.’s Tech Transformation At Gryphon Project And Beyond

Executives from Fox Corp. will share insights from building a pioneering new cloud-native operations center in Tempe, Ariz., dubbed the Gryphon Project, and where it sits in a larger reinvention of the technology powering Fox’s broadcast and digital businesses in a TVNewsCheck Working Lunch webinar on July 12 at 1 p.m. ET. Register here.

Fox Moving Into Lifestyle Content

Fox Corp. is in the early stages of expanding into lifestyle verticals across categories like outdoors, home and books, CEO Lachlan Murdoch says. The hope is that new lifestyle verticals, in addition to streaming, sports betting and web3 projects, will “give us our growth going forward,” Murdoch said. The push into lifestyle content builds on the success of Fox News Media’s subscription streaming service, Fox Nation, which launched in 2018 as Fox News’ first big foray into softer content.

QUARTERLY REPORT

Brady News Breaks In Fox Corp. Earnings Call

The NFL legend will join Fox Sports whenever he hangs up his cleats. The news came during the company’s call with analysts to report another growth quarter the company, with total revenues up 7% to $3.2 billion. Ad revenue grew 9% overall to $1.3 billion, led by stronger pricing and higher ratings at Fox News and continued growth at Tubi, the company’s ad-supported streaming service.

NEWS ANALYSIS

Why Fox – Yes, Fox – Is This Analyst’s Only ‘Buy’ In Media Stocks

The media analysts at MoffettNathanson want you to know that Fox shares are terribly undervalued. So if you lost a lot of money on Netflix…

Lachlan Murdoch, Once The Ambivalent Fox Heir, Makes His Views Clear

The News Corp. co-chair, Rupert’s eldest son, left no mystery about his conservative politics in a fiery speech.

Fox Unveils Ad Tech To Match Advertisers With Expanding Fox News Content

Fox Corp. 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. today unveiled a proprietary technology it calls Atlas to a group of advertisers meeting in Los Angeles, with a mission to help them match commercials with specific types of digital programming.

Fox Betting Plan Stalls As Murdoch Wrestles With FanDuel Parent

Fox Corp.’s plan to be a major player in sports betting has hit a snag with the fledgling sports betting site Fox Bet struggling and the company failing to resolve ongoing ownership issues with its partner Flutter Entertainment. The 3-year-old site, heavily promoted on Fox TV networks, is only available in four states, and Fox CEO Lachlan Murdoch said he’s unhappy with the progress.

TVN TECH

The Transition To IP Blurs The Lines Between Engineering And IT

Executives from Fox Corp., CBS Television Stations, Hearst and Vizrt told a TVNewsCheck webinar last week the ongoing transition to IP networking and public cloud technology is driving staffers in both engineering and IT to learn new skills.

QUARTERLY EARNINGS ANALYSIS

Political Ad Projections Keep Rising

Broadcasters widely increased their political revenue guidance for 2022 following an earnings season in which spot saw continued growth across categories except for the still-beleaguered automotive industry.

advertising, political advertising, quarterly earnings analysis

EARNINGS CALL

Local TV Advertising ‘Fully Recovered’ At Fox Corp.

Ad revenues for the TV segment rose 6% to $649 million, while the cable nets rose 3% to $454 million. Affiliate revenues (retrans and reverse comp) grew 10% to $649 million for TV and affiliate fees rose 12% to $454 million for cable.

QUARTERLY REPORT

Fox 4Q Revenue Rises 9%

Fox’s revenue rose 9% from the same quarter last year, with cable, broadcast and Tubi all pitching in. Advertising revenue was up 6% to $2.4 billion and affiliate revenues increased 11% to nearly $1.7 billion. Unfortunately, expenses climbed as well. With some key adjustments, excluding the losses from its affiliates, Fox was able to report adjusted earnings per share of 13 cents and adjusted net income of $77 million.

NEWSTECHFORUM 2022

Broadcasters Eye Cloud As Disaster-Recovery Solution

Executives from Fox Corp., Tegna, Sinclair and Bitcentral at least week’s NewsTECHForum said the cloud has become an increasingly important tool for business recovery, even with the caveat that the public cloud can be subject to its own outages.

Fox Corp. Names Lauren Townsend SVP, Communications

Netflix Loses Appeal In Employee Poaching Lawsuit

Netflix has lost an appeal of a 2019 ruling that ordered the streaming service to stop poaching employees from Fox. The streaming service has been battling Fox since 2016 over the practice of locking midlevel executives into fixed-term contracts. Netflix has argued that Fox’s contracts are illegal under California law, and that they unfairly restrict employee mobility. Netflix’s argument, had it succeeded, could have upended how Hollywood studios do business.

News Production’s Journey To The Cloud In Spotlight At NewsTECHForum

Executives from Fox Corp., Sinclair, Tegna and Bitcentral will chart the trajectory of more and more news operations into the cloud or a hybrid cloud environment at TVNewsCheck’s NewsTECHForum on Dec. 14, presented in-person at the New York Hilton and virtually as well. Register here.

EARNINGS CALL

Local Ad Trends Positive For Fox Corp.

Said CFO Steve Tomsic: “At the Fox Television Stations we continued to observe a meaningful rebound in the base market, with our core ad revenue up high single-digits, which partially offset the absence of historic political advertising revenues that we experienced last year.”

QUARTERLY REPORT

Fox Corp. Quarterly Ad Revenue Jumps 17%

Fox Corp. posted a strong September quarter Wednesday afternoon, including a 12% pop in sales to $3.05 billion, beating Wall Street forecasts and fueled by a 17% uptick in ad revenue, citing continued growth at Tubi, the return of a full schedule of live events at Fox Sports and more scripted programming at Fox Entertainment — all versus last year when the industry was still staggering under COVID.

Fox Corp. Says Company Will Soon Introduce Daily Covid Testing For Unvaccinated Employees

Can Fox Mine Digital Gold In NFT Wild West With Eluvio Investment?

It’s just possible that Rupert Murdoch and his boutique media joint might be onto something that other media companies should be thoroughly investigating, too.

Fox Invests In And Adopts Eluvio Blockchain Platform

Fox Corp. and Eluvio, a global operation for managing, distributing, and monetizing premium content via blockchain, announced today that Fox has made a strategic investment in Eluvio to accelerate the adoption of Eluvio’s platform across the media and entertainment industry. As part of the investment, the companies also announced that Eluvio will provide the underlying technology […]

Lachlan Murdoch: CNN’s New Streaming Service Is Proof Fox Nation Is Working

EARNINGS CALL

TV Ad Growth Powers Fox Corp.

Executive Chairman-CEO Lachlan Murdoch hailed an “absolutely historic” upfront for the Fox Network and its cable and digital siblings, and then focused on the ad rebound already underway. “All of our categories are up very strongly, with the exception of two, which are auto and telecom,” he noted, referring to the company’s local station business.

Murdoch Rewards Every Fox Employee With A $2K Bonus

Lachlan Murdoch has dug into the billion dollar revenues of his company, telling Fox Corp. employees they’re all receiving a bonus of $2,000 or more. In a note to staff, the CEO of Fox Corp., which includes Fox News and Fox Sports, announced that all staff across the company will receive the bonus.

Brian Nick Joins Fox Corp. As Chief Communications Officer

Fox Corp. has brought on a new head of communications. Brian Nick, most recently at Coca-Cola Consolidated, is joining the company as executive vice president and chief communications officer, reporting to Fox Corp. Chairman-CEO Lachlan Murdoch.

KRIV Reporter Starts Live Shot By Telling Viewers Fox is ‘Muzzling’ Her

KRIV Houston reporter Ivory Hecker started her live shot Monday by telling viewers that the station’s owner, Fox Corp., is muzzling her and she is releasing tapes to prove it. “I am going to be releasing some recordings about what goes on behind the scenes at Fox, because it applies to you, the viewers,” she said. “I found a nonprofit journalism group called Project Veritas that is going to help put that out tomorrow, so tune into them.” She then went on with her live shot.

Fox Buying Clay Travis’ Sports Media Company Outkick

EARNINGS CALL

Fox Corp. Sees Sunday NFL As Best Package

“The Sunday NFC package has been the most watched NFL package for the past 16 years. Our NFC coverage is an important foundation for the Fox Network and strategically aligns with our local stations, where we own and operate the Fox affiliate in 14 of the 16 NFC markets,” Fox CEO Lachlan Murdoch told analysts.

QUARTERLY REPORT

Fox Tops Wall Street’s Quarterly Estimates

Fox Corp. beat Wall Street analysts’ forecasts for its fiscal third quarter, with results that reflected difficult comparisons with the Super Bowl period a year earlier. Earnings per share came in at 96 cents during the period ending March 31, well ahead of analysts’ consensus for 58 cents. Total revenue reached $3.22 billion, about $100 million ahead of the Street but down from $3.44 billion in the same quarter in 2020. Affiliate revenue increased 10%, powered by an 18% gain in the Television unit.

Fox Corp. Names Chung Chief Growth Officer

Fox Corp. is looking to turbocharge its digital business. To help it push into new business areas, the company has named Steve Chung its first chief growth officer. Fox says Chung will “focus on identifying and developing new digital business opportunities across existing and emerging growth categories.” Chung will report to Paul Cheesbrough, Fox CTO and president of digital.

Tubi Ad Revenue Could Reach $1.7B By 2025

The Lawyer Behind The Throne At Fox

Even before the company’s CEO, Lachlan Murdoch, moved to Australia, Viet Dinh was seen as Fox’s power center.

Fox And FreeWheel Partner To Bring Programmatic Addressable Capabilities To Set-Top Box Video On Demand Across Comcast Footprint

Today, Fox Corp. and FreeWheel, a Comcast company, announced a partnership to enable programmatic trading of addressable set-top box (STB) video on demand (VOD), marking what they call an industry first for a television network. Through this partnership, Showcase offers advertisers a path to execute addressable household-level campaigns on any of its content viewed On […]

Fox Corp. Ups Jeff Taylor To General Counsel

He is promoted from executive vice president and chief litigation counsel to oversee the company’s legal activities. In addition, Nicholas Trutanich joins fox as executive vice president and chief ethics and compliance officer.

NAACP Urges NFL To ‘Rethink Relationship’ With Fox

Derrick Johnson, president and CEO of the NAACP Thursday lashed out at Fox Corp., accusing the media company of exploiting the NFL and its 70% Black players, saying the league’s increasingly high subscriber fees help subsidize Fox News programming. The announcement came shortly before Fox announced a new, 11-year media rights agreement with the league.