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(stylized in all-caps as ‘FOX Corporation’)
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*’fox corporation’ is an american mass media company operated and owned by media mogul Rupert Murdoch and headquartered at 1211 Avenue of the Americas in ‘New York City’*
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Incorporated in Delaware, it was formed in 2019 as a result of the acquisition of 21st Century Fox by The Walt Disney Company; the assets that were not acquired by Disney were spun off from 21st Century Fox as the new Fox Corp., and its stock began trading on January 1, 2019.[6][7][8] The company is owned by the Murdoch family via a family trust with 39.6% ownership share.[9]
Rupert Murdoch is chairman, while his son Lachlan Murdoch is executive chairman and CEO. Fox Corp. deals primarily in the television broadcast, news, and sports broadcasting industries. They include the Fox Broadcasting Company, Fox Television Stations, Fox News, Fox Business, the national operations of Fox Sports, and others. Its sister company under Murdoch’s control, the present-day News Corp, holds his print interests and other media assets.
History[edit]
The company name traces back through a series of mergers and demergers to the Fox Film Corporation founded by William Fox on February 1, 1915.[10]
Formation[edit]
On December 14, 2017, The Walt Disney Company announced its intent to acquire the motion picture, cable entertainment, and direct broadcast satellite divisions of 21st Century Fox, including 20th Century Fox, for $52.4 billion. The remainder of the company would form a so-called “New Fox”, maintaining control of assets such as Fox’s television network and broadcast stations, Fox News, the national operations of Fox Sports, and the 20th Century Fox studio lot, which would be leased to Disney for seven years. Fox’s regional sports networks were to be included in the sale to Disney.[11][12] In May 2018, it was confirmed that Lachlan Murdoch, rather than James Murdoch, would take charge of the New Fox company.[2]
The merger faced antitrust scrutiny; Disney would not legally be able to own both the ABC and Fox networks due to an FCC policy known as the “dual network rule”, which prohibits mergers between the top broadcast networks.[13] The Department of Justice also ordered that Fox’s regional sports networks be divested by Disney within 90 days of closing. Disney owns 80% of ESPN, and the Justice Department felt that the Fox regional networks’ combination with ESPN would make Disney too dominant in the cable sports market.[14][15]
In mid-2018, NBCUniversal’s parent company Comcast instigated bidding wars over both the Fox assets Disney planned to purchase, and the British broadcaster Sky plc (a company which 21st Century Fox held a stake in, and was planning to acquire the remainder). In July 2018, Fox agreed to an increase of Disney’s offer to $71.3 billion to fend off Comcast’s counter-bid.[16][17] British regulators ordered that a blind auction be held for Sky’s assets, which was won by Comcast.[18]
On October 10, 2018, it was reported that in preparation for the impending completion of the sale, the new, post-merger organizational structure of “New Fox” would be implemented by January 1, 2019.[3] On November 14, 2018, it was revealed that the new independent company will maintain the original Fox name.[19] On January 7, 2019, Fox Corporation’s registration statement was filed by the U.S. Securities and Exchange Commission.[20]
On January 11, 2019, Fox stated in a securities filing that it had no plans to bid on its former regional sports networks;[6] they would instead go to a consortium led by Sinclair Broadcast Group, with Fox Corporation continuing to license the FSN name to those stations until Sinclair developed a new brand (the networks would eventually become Bally Sports).[21] On March 12, 2019, Disney announced that the sale would be completed by March 20, 2019.[22] On March 19, 2019, Fox Corporation officially began trading on the S&P 500, replacing 21st Century Fox on the index.[8] Republican politician and former Speaker of the House Paul Ryan also joined Fox Corporation’s board at this time.[1]
Under the terms of the acquisition, Disney will phase out the Fox brand usage by 2024.[23]
Beginning of operations[edit]
Fox Corporation began operating separately on March 18, 2019.[1] Chairman and CEO Lachlan Murdoch led a town hall meeting three days later, indicating that stock would be issued to the corporation’s employees based on longevity.[24]
In May 2019, via the Fox Sports division, Fox Corporation acquired a 4.99% stake in Canadian online gambling operator The Stars Group for $236 million. As a result, it was also announced that the companies would co-develop sports betting products for the U.S. market under the branding Fox Bet.[25]
In early July 2019, Fox Entertainment announced the formation of SideCar, with executives led by Gail Berman.
SideCar is a content development unit for Fox and other outlets.[26]
In August 2019, Fox Corporation acquired Credible Labs for $397 million and animation studio Bento Box Entertainment for $50 million.[27][28][29]
In April 2020, Fox Corporation acquired streaming service Tubi for $440 million.[30][31]
In September 2021, Fox Corporation acquired TMZ from WarnerMedia in a deal worth about $50 million with TMZ being operated under the Fox Entertainment division.[32]
In December 2021, Fox Corporation announced its acquisition of film and television production studio MarVista Entertainment.[33][34]
Corporate governance[edit]
Ambox current red Americas.svg
This section needs to be updated. Please help update this article to reflect recent events or newly available information. (September 2021)
Board of directors[edit]
Rupert Murdoch (Chairman)[2]
Lachlan Murdoch (Executive Chairman)[2]
William A. Burke[35]
Chase Carey[1][36]
Anne Dias[37][35]
Roland A. Hernandez[35]
Jacques Nasser[37][35]
Paul Ryan[1][38]
Executive management[edit]
Lachlan Murdoch (Executive Chairman and Chief Executive Officer)[24]
John Nallen (Chief Operating Officer)
Viet D. Dinh (Chief Legal and Policy Officer)
Steve Tomsic (Chief Financial Officer)
Jack Abernethy (Chief Executive Officer, Fox Television Stations)[39]
Michael Biard (President of Operations and Distribution)
Paul Cheesbrough (Chief Technology Officer and President of Digital)
Charlie Collier (Chief Executive Officer, Fox Entertainment)[40]
Amy Carney, Chief Operating Officer
Michael Thorn, President of Entertainment
Rob Wade, President, Alternative Entertainment and Specials
Joe Dorrego (Chief Investor Relations Officer and EVP of Corporate Initiatives)
Marianne Gambelli (President of Advertising Sales)[39]
Kevin Lord (Executive Vice President of Human Resources)
Danny O’Brien (Executive Vice President and Head of Government Relations)
Suzanne Scott (Chief Executive Officer, Fox News Media)
Eric Shanks (Chief Executive Officer and Executive Producer, Fox Sports)
Jeff A. Taylor (Executive Vice President and Chief Litigation Counsel)
Claudia Teran (Executive Vice President and Corporate General Counsel)
Assets[edit]
As of January 2022.[41]
Fox Entertainment
Fox Broadcasting Company[40]
Fox Now
Bento Box Entertainment[28]
Fox Alternative Entertainment
Sidecar[26]
Studio Ramsay Global
TMZ[42]
XOF Productions
Tubi[30]
MarVista Entertainment
Fox Television Stations[40]
28 regional affiliates
MyNetworkTV
Popcorn Entertainment LLC (50% JV with Weigel Broadcasting)
Movies!
Fox Soul
Fox First Run
Fox News Media[40]
Fox News Channel
Fox Business
Fox News Radio
Fox News Talk (radio)
Fox Nation
Fox Weather
Fox Sports Media Group[40]
FS1
FS2
Fox Deportes (Spanish language)
Big Ten Network (51%)
Fox Soccer Plus
Fox Sports Racing
Fox Sports Radio (brand licensing agreement with iHeartMedia/Premiere Networks)
Fox Bet
Fox Sports Digital Media
FoxSports.com
Flutter Entertainment (2.6%)[43]
Credible Labs (67%)[27]
References[edit]
^ Jump up to: a b c d e Littleton, Cynthia; Steinberg, Brian (March 18, 2019). “Fox Corporation Emerges as Standalone Entity, Paul Ryan Joins Board”. Variety. Retrieved March 19, 2019.
^ Jump up to: a b c d Disis, Jill (May 16, 2018). “Lachlan Murdoch, not James, will lead New Fox company”. CNN. Archived from the original on May 17, 2018. Retrieved May 17, 2018.
^ Jump up to: a b Holloway, Daniel (October 10, 2018). “Fox Will Be Ready to Close Disney Deal Jan. 1, Says Peter Rice (EXCLUSIVE)”. Variety. Archived from the original on October 11, 2018. Retrieved November 21, 2018.
^ “EARNINGS RELEASE FOR THE QUARTER AND FISCAL YEAR ENDED JUNE 30, 2019” (PDF). Fox Corporation (Press release). New York, NY. August 7, 2019. Retrieved October 2, 2019.
^ “About Us”. Fox Corporation. Retrieved September 22, 2021.
^ Jump up to: a b Littleton, Cynthia (January 11, 2019). “Fox Confirms It Won’t Bid on Disney’s Regional Sports Networks”. Variety. Retrieved January 11, 2019.
^ “21st Century Fox Announces Pricing Of Senior Notes By Fox Corporation”. January 15, 2019. Archived from the original on February 2, 2019. Retrieved February 1, 2019.
^ Jump up to: a b Chang, Sue (March 14, 2019). “Fox Corp. to replace Twenty-First Century Fox on S&P 500”. MarketWatch. Retrieved March 19, 2019.
^ Viet, Dinh (November 12, 2020). “2020 Notice of Meeting and Proxy Statement (Page 63)”. Fox Corporation | INVESTOR RELATIONS. p. 63.{{cite web}}: CS1 maint: url-status (link)
^ Post Staff Report (February 10, 2010). “Is Fox really 75 this year? Somewhere, the fantastic Mr. (William) Fox begs to differ”. New York Post. Retrieved January 22, 2020.
^ James, Meg (June 28, 2013). “News Corp. divides into two companies; 21st Century Fox is born”. Los Angeles Times. ISSN 0458-3035. Retrieved April 19, 2019.
^ Littleton, Cynthia; Steinberg, Brian (December 14, 2017). “Disney to Buy 21st Century Fox Assets for $52.4 Billion in Historic Hollywood Merger”. Variety. Retrieved February 8, 2018.
^ Gardner, Eriq (December 12, 2018). “FCC Reviewing Rule Prohibiting Mergers Among Big Four Broadcast Networks”. The Hollywood Reporter. Retrieved March 19, 2019.
^ Littleton, Cynthia (June 27, 2018). “Justice Department Approves Disney’s Acquisition of 21st Century Fox With Divestiture of Regional Sports Networks”. Variety. Retrieved June 27, 2018.
^ “Disney wins US antitrust approval to buy Fox assets”. CNBC. June 27, 2018. Retrieved June 27, 2018.
^ Brodkin, Jon (June 20, 2018). “Sorry, Comcast: Fox and Disney sign new merger deal, rejecting Comcast bid”. Ars Technica. Retrieved June 20, 2018.
^ Lee, Edmund (June 20, 2018). “Disney Ups Its Bid for 21st Century Fox to $71.3 Billion”. The New York Times. ISSN 0362-4331. Retrieved April 19, 2019.
^ Waterson, Jim (June 26, 2018). “Rupert Murdoch’s Sky reign to end as Fox sells all shares to Comcast”. The Guardian. ISSN 0261-3077. Retrieved September 27, 2018.
^ Donnelly, Matt (November 14, 2018). “Official Name of New Fox Is, Uh, Fox – and Other Takeaways From Annual Stockholders Meeting”. Variety. Archived from the original on November 14, 2018. Retrieved November 15, 2018.
^ Chmielewski, Dawn (January 7, 2019). “21st Century Fox Files Registration Statement With SEC To Form ‘New’ Fox”. Deadline Hollywood. Retrieved January 7, 2019.
^ Wilen, Holden (August 26, 2019). “Sinclair CEO see ‘massive opportunity’ with rebranding of Fox sports networks”. Baltimore Business Journal. Retrieved October 21, 2019.(subscription required)
^ Littleton, Cynthia (March 12, 2019). “Disney Sets March 20 Closing Date for 21st Century Fox Acquisition”. Variety. Retrieved March 15, 2019.
^ “FISCAL YEAR 2020 ANNUAL FINANCIAL REPORT” (PDF). The Walt Disney Company. p. 79. Retrieved October 2, 2021.
^ Jump up to: a b Otterson, Joe; Holloway, Daniel (March 21, 2019). “New Fox CEO Lachlan Murdoch Announces All Employees to Receive Stock in Company”. Variety. Retrieved July 9, 2019.
^ Soshnick, Scott; Novy-Williams, Eben (May 8, 2019). “Fox buys US$236M Stars Group stake to enter betting market”. BNN Bloomberg. Retrieved October 2, 2019.
^ Jump up to: a b Low, Elaine (July 8, 2019). “SideCar, Fox Entertainment’s Content Development Accelerator, Names Exec Team”. Variety. Retrieved July 9, 2019.
^ Jump up to: a b Duran, Paulina (August 5, 2019). “Murdoch’s Fox Corp to buy fintech Credible Labs in $397 million deal”. Reuters. Retrieved August 5, 2019.
^ Jump up to: a b Andreeva, Nellie (August 6, 2019). “Fox Entertainment Acquires ‘Bob’s Burgers’ Animation House Bento Box”. Deadline Hollywood. Retrieved August 6, 2019.
^ Flint, Joe (August 6, 2019). “Fox to Buy Bento Box, the Animation House Behind ‘Bob’s Burgers'”. Wall Street Journal. Retrieved November 9, 2019.
^ Jump up to: a b Baysinger, Tim (March 17, 2020). “Fox Buys Ad-Supported Streaming Service Tubi in $440 Million Cash Deal”. TheWrap. Retrieved March 17, 2020.
^ Goldsmith, Jill (April 20, 2020). “Fox Closes Purchase Of Tubi In Day Of Streaming Deals”. Deadline Hollywood. Retrieved April 22, 2020.
^ Hayes, Dade (September 13, 2021). “Fox Entertainment Closes Acquisition Of TMZ From WarnerMedia”. Yahoo!. Retrieved September 13, 2021.
^ Porter, Rick (December 13, 2021). “Fox Acquires TV Movie Producer MarVista Entertainment”. The Hollywood Reporter. Retrieved December 14, 2021.
^ Andreeva, Nellie (December 13, 2021). “Fox Entertainment Acquires Top TV Movie Producer & Distributor MarVista Entertainment”. Deadline Hollywood. Retrieved December 14, 2021.
^ Jump up to: a b c d “November 10, 2021 Form 8-K”. EDGAR. Retrieved December 24, 2021.
^ Ellingson, Annlee (March 19, 2019). “New era begins at Fox Corp. with Paul Ryan, Chase Carey on board”. American City Business Journals. Retrieved September 30, 2021.
^ Jump up to: a b Turner, Ashley (March 19, 2019). “Former House Speaker Paul Ryan joins board of Fox News’ parent company”. CNBC. Retrieved September 30, 2021.
^ Prang, Allison; Mullin, Benjamin (March 19, 2019). “New Fox Begins Trading, Names New Directors Including Paul Ryan”. The Wall Street Journal. Retrieved September 30, 2021.
^ Jump up to: a b Lafayette, Jon (October 2, 2018). “‘New Fox’ Announces Top Executive Appointments”. Broadcasting & Cable. Retrieved March 8, 2019.
^ Jump up to: a b c d e Holloway, Daniel (October 19, 2018). “Charlie Collier Named Fox Entertainment CEO; Gary Newman Exits”. Variety. Retrieved July 9, 2019.
^ Businesses Archive – foxcorporation
^ Flint, Joe (September 13, 2021). “Fox Acquires Celebrity News Specialist TMZ From AT&T’s WarnerMedia”. Wall Street Journal. Retrieved September 13, 2021.
^ Duprey, Rich (December 3, 2020). “Flutter Entertainment Ups Stake in FanDuel to 95%”. The Motley Fool. Retrieved December 10, 2020.
External links[edit]
Official website Edit this at Wikidata
Business data for Fox Corporation Class A:
Google Finance
Yahoo! Finance
Bloomberg
Reuters
SEC filings
Business data for Fox Corporation Class B:
Google Finance
Yahoo! Finance
Bloomberg
Reuters
SEC filings
en.wikipedia.org /wiki/Fox_Corporation
Fox Corporation
Contributors to Wikimedia projects15-19 minutes 10/12/2018
This article is about the television broadcasting company. For the company prior to the spin off and acquisition by The Walt Disney Company, see 21st Century Fox.
Fox Corporation
FOX wordmark.svg
1211 Avenue of the Americas.jpg
Headquarters at 1211 Avenue of the Americas
Type Public company
Traded as
Nasdaq: FOXA (Class A)
Nasdaq: FOX (Class B)
S&P 500 components
ISIN US35137L1052
US35137L2043
Industry Mass media
Predecessor 21st Century Fox
Founded January 1, 2019; 3 years ago
March 19, 2019; 2 years ago (official)
Founder Rupert Murdoch
Headquarters 1211 Avenue of the Americas,
New York City, New York
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U.S.
Area served
United States
Key people
Lachlan Murdoch (Executive chairman, CEO)
Rupert Murdoch (Chairman)
John Nallen (COO)
Revenue Increase US$12.3 billion (2020)
Operating income
Increase US$2.59 billion (2020)
Net income
Decrease US$999 million (2020)
Total assets Increase US$21.75 billion (2020)
Total equity Increase US$10.42 billion (2020)
Owner Murdoch family (39% voting power)
Number of employees
9,000 (2020)
Divisions
Fox Entertainment
Fox Television Stations
Fox News Media
Fox Sports Media Group
Subsidiaries
Fox Broadcasting Company
Credible Labs
Tubi
Website www.foxcorporation.com Edit this at Wikidata
Footnotes / references
[1][2][3][4]
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