Core Viewpoint - Fox Corporation announced a public offering of 16,835,016 shares of its Class B common stock at a price of $54.25 per share, with proceeds going to the Selling Stockholders, not the Company [1][2]. Group 1: Offering Details - The Offering is underwritten by Morgan Stanley, and the Company will not receive any proceeds from it [2]. - The Offering is subject to market conditions, and there is no assurance regarding its completion [2]. - The Offering will be conducted under an effective registration statement and a prospectus filed with the SEC [3]. Group 2: Company Overview - Fox Corporation produces and distributes news, sports, and entertainment content through brands like FOX News Media, FOX Sports, Tubi Media Group, FOX Entertainment, and FOX Television Stations [4]. - The Company aims to leverage its cultural significance and commercial importance to engage audiences and develop consumer relationships [4]. - Fox Corporation has a strong track record in the news, sports, and entertainment sectors, which shapes its strategic investments [4].

Core Points - The Murdoch family has resolved the legal battle over control of its media empire, which includes Fox Corp. and News Corp, with Lachlan Murdoch maintaining control [1][3] - A new trust, LGC Holdco LLC, will be established for the benefit of Lachlan Murdoch and his sisters Grace and Chloe Murdoch [1][7] - Rupert Murdoch will continue as Chairman Emeritus of both companies [3][4] Financial Implications - Fox Corp. stock closed at an all-time high of $62.49, while News Corp shares closed at $29.94, just under its record high of $30.75 [5][11] - The value of the family stock in the trust has increased by 68%, amounting to $3.4 billion, since Lachlan Murdoch took control in 2019 [5] - The three older siblings will receive approximately $1.1 billion once the $3.3 billion deal closes within six months [8] Trust and Governance Changes - The older siblings, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, will no longer be beneficiaries in any trust holding shares in News Corp or Fox Corp [4] - The agreement includes a long-term standstill preventing the siblings from acquiring shares in Fox and News Corp [9] - The legal battle between Rupert and Lachlan Murdoch against the three older siblings will conclude as part of this agreement [9]

Core Viewpoint - The Murdoch family has reached an agreement that allows Lachlan Murdoch, Rupert Murdoch's politically conservative son, to solidify his control over the family media empire, which includes prominent entities such as Fox News and the Wall Street Journal [1] Group 1 - Lachlan Murdoch's control is expected to influence the strategic direction of the family media assets [1] - The deal signifies a consolidation of power within the Murdoch family, particularly in the context of their media operations [1] - This transition may have implications for the political and editorial stance of the media outlets under the Murdoch umbrella [1]

Core Viewpoint - Fox Corporation announced an underwritten public offering of 16,926,837 shares of its Class B common stock, which will be sold by trusts for the benefit of certain Murdoch family members and charitable organizations [1][2]. Group 1: Offering Details - The Selling Stockholders will receive all proceeds from the offering, while the Company will not sell any shares or receive any proceeds [2]. - The offering is subject to market conditions, and there is no assurance regarding its completion [2]. - Morgan Stanley is acting as the sole underwriter for the offering [2]. Group 2: Regulatory Information - The offering will be conducted under an effective registration statement and a prospectus previously filed with the U.S. Securities and Exchange Commission (SEC) [3]. - A preliminary prospectus supplement will be filed for the offering, and interested parties are encouraged to read the relevant documents for complete information [3]. Group 3: Company Overview - Fox Corporation produces and distributes news, sports, and entertainment content through brands like FOX News Media, FOX Sports, Tubi Media Group, and FOX Entertainment [4]. - The Company has a strong track record in the industry, which shapes its strategy to leverage existing strengths and invest in new initiatives [4].

Core Points - Fox Corporation announced the resolution of legal proceedings in Nevada related to the Murdoch Family Trust, leading to the termination of all litigation [1] Company Summary - The trustee and beneficiaries of the Murdoch Family Trust have reached a mutual resolution with Fox Corporation [1] - This resolution signifies the end of ongoing legal disputes involving the Murdoch Family Trust [1]

Core Points - A federal judge dismissed Newsmax's antitrust lawsuit against Fox News but allowed for an amended version to be submitted [1][2] - The judge criticized Newsmax's initial complaint as a "shotgun pleading," which improperly combined multiple counts [2] - Newsmax has until Thursday to file an amended complaint that adheres to the court's guidelines [3] Company Actions - Newsmax accused Fox News of monopolistic practices and suppressing competition in conservative media [4] - Fox News responded by stating that Newsmax's lawsuit is an attempt to deflect from its own market failures [4] Legal Proceedings - Judge Aileen Cannon emphasized the need for clarity in legal complaints, stating that the current format was not permissible [2] - The court's order indicates that failure to comply with the amended filing requirements could lead to case dismissal [3]

Core Viewpoint - Newsmax has filed an antitrust lawsuit against Fox Corp., alleging that it holds an illegal monopoly in the right-leaning pay TV news market, engaging in exclusionary practices to maintain its dominance [1][9]. Group 1: Allegations Against Fox Corp. - Newsmax claims that Fox's anticompetitive behavior has hindered its growth and distribution potential, asserting that it could have become a more valuable media company without such interference [2]. - The lawsuit alleges that Fox pressures distributors into unfair agreements that prevent them from carrying competitors like Newsmax, imposing financial penalties for doing so [3][10]. - Newsmax cites internal communications from Fox leaders, revealed during a separate defamation lawsuit, indicating that Fox views Newsmax as a significant competitive threat [4][5]. Group 2: Impact on Competition - The lawsuit argues that Fox's actions have harmed competition, restricted consumer choice, and led to higher prices for consumers in the right-leaning news market [9]. - Newsmax contends that most distributors comply with Fox's restrictions due to a lack of alternatives, effectively coercing them into excluding Newsmax from their offerings [10]. - The complaint states that Fox sometimes refuses to license its popular channels unless distributors agree to disadvantage rival networks like Newsmax [11]. Group 3: Legal Proceedings - Newsmax is seeking a jury trial and unspecified monetary damages, aiming for a court declaration that Fox has violated federal and state antitrust laws [11].

Core Viewpoint - Newsmax has filed a lawsuit against Fox News, alleging that Fox has engaged in anticompetitive behavior to maintain its monopoly in the right-leaning pay TV news market, thereby harming competitors like Newsmax [2][4][5]. Group 1: Allegations Against Fox News - Newsmax claims that Fox News has used various strategies to coerce distributors into not carrying or marginalizing other right-leaning news channels [4]. - The lawsuit alleges that Fox makes access to its content conditional on distributors agreeing not to carry competing channels, either explicitly or tacitly [4][5]. - Financial penalties are imposed by Fox on distributors who carry competing channels, requiring them to pay high fees for less popular Fox channels [5]. Group 2: Legal Actions and Demands - Newsmax seeks a permanent injunction to prevent Fox from enforcing its allegedly exclusionary agreements [6]. - The company is also pursuing damages amounting to three times the losses it claims to have suffered due to Fox's actions, along with pre- and post-judgment interest at the highest legal rate [6].

Core Points - Google and Fox have reached an agreement to keep Fox channels on YouTube TV, ending a dispute that could have led to the removal of these channels [1][2] - The deal ensures that Fox channels, including Fox Broadcast Network, Fox News, and Fox Sports, remain available for subscribers, preserving the value of the service [2] - The agreement was reached just in time for significant college and NFL football events, highlighting the urgency for both parties to finalize the deal [2] Summary by Sections Agreement Details - Google announced the deal via a YouTube blog post, emphasizing the preservation of service value and future flexibility [2] - The agreement allows for continued access to over 100 channels, ensuring that football fans will not miss upcoming games [2] Context and Urgency - The timing of the agreement was critical due to the first big Saturday of college football and the upcoming NFL season, which increased pressure on both companies to finalize negotiations [2] - A short-term extension was granted to allow negotiations to continue past the initial deadline, ultimately leading to a successful renewal of the contract without service disruption [2]

Core Viewpoint - YouTube and Fox have successfully negotiated a new distribution agreement, ensuring that Fox News, Fox Sports, and other Fox channels remain available on YouTube TV, following a previous short-term extension to avoid service disruptions for subscribers [1][2]. Group 1 - YouTube expressed satisfaction with the deal, emphasizing the preservation of service value for its subscribers, although the financial terms of the agreement were not disclosed [2]. - Fox had previously requested payments significantly higher than those received by other partners with similar content offerings, indicating a potential strain in negotiations [2]. - The potential removal of Fox channels from YouTube TV could have led to subscribers missing key sporting events, including a major college football match and the start of the NFL season [3]. Group 2 - Brendan Carr, chair of the Federal Communications Commission, welcomed the agreement, highlighting its importance for college football fans and the avoidance of blackouts [4]. - YouTube TV has approximately 9.4 million subscribers and pays broadcasters like Fox for streaming their channels [4]. - Fox broadcasts significant sporting events, including Major League Baseball games and the World Series, which is set to begin in late October [5].