CBS News quietly slashed three high-level positions ahead of a major round of layoffs across parent company Paramount Global that is expected to kick off this summer, The Post has learned.The embattled Tiffany Network — which has seen ratings plunge at its morning show and evening news program, and is being sued by President Trump for $20 billion over the controversial “60 Minutes” interview with Kamala Harris — fired two CBS News bureau chiefs and a senior executive on Wednesday, sources said.Andre Rodrigu ...

Summary of Fox Corporation 2025 Conference Call Company Overview - **Company**: Fox Corporation (FOX) - **Date of Conference**: May 14, 2025 Key Industry Insights - **Advertising Performance**: Strong performance in advertising driven by major events like the Super Bowl and elections, with national advertising particularly robust. [4][36] - **Affiliate Revenue**: 25% of the affiliate revenue was booked during fiscal year 2025, indicating strong demand. [4][5] - **Direct-to-Consumer (D2C) Strategy**: Launch of Fox One, a D2C platform, aimed at addressing the cordless market while respecting existing pay TV relationships. [10][13][19] Core Company Strategies - **Focus on Live Events**: The company continues to prioritize live news and sports, which are key revenue drivers. [9][28] - **Capital Allocation**: Emphasis on disciplined capital allocation, including organic investments, M&A, and returning capital to shareholders. [6][75] - **Tubi's Growth**: Tubi has shown significant growth, with revenues up 35% and 97 million monthly active users, primarily targeting the cordless market. [45][46] Financial Performance - **Advertising Trends**: National advertising pricing is up high single digits compared to the previous year, with local advertising showing mixed results. [36][38] - **Fox News Viewership**: Record viewership for Fox News, with significant advertising gains attributed to high engagement. [54][56] - **Free Cash Flow**: Strong free cash flow generation, with $600 million of debt repaid recently, positioning the company for future growth. [73][75] Future Outlook - **Skinny Bundles**: The company is optimistic about the potential of skinny bundles to attract new subscribers and mitigate declines in traditional pay TV. [30][32] - **Sports Rights**: Fox holds significant sports broadcasting rights for several years, providing a competitive edge against new digital entrants like Netflix and Amazon. [61][63] - **Tubi's Role**: Tubi is expected to serve as a marketing platform for Fox One, leveraging its user base to drive subscriptions. [46][50] Additional Considerations - **Valuation Concerns**: There is frustration regarding the market's valuation of Tubi and other hidden assets within the company. [84] - **Wagering Assets**: The company holds valuable wagering assets, including an 18.6% stake in DraftKings, which are not fully reflected in the stock's value. [70][71] - **Content Strategy**: A balanced approach to content spending, focusing on both scripted and non-scripted programming, is maintained. [81][82] Conclusion Fox Corporation is positioned for continued growth through its focus on live events, strategic capital allocation, and leveraging its digital platforms like Tubi and Fox One. The company remains optimistic about its advertising revenue and the potential of new market strategies to enhance its competitive position.

Company Moves - Gray Media announced the appointment of Shannon Booth as the new General Manager of WOWT (NBC) in Omaha, Nebraska, succeeding Jim McKernan who is retiring after 44 years in broadcasting [1] - Jacque Harms will take over Shannon's previous role as General Manager of KOLN (CBS) and KSNB (NBC) in Lincoln, Nebraska, as well as KNOP (NBC) and KNPL (CBS) in North Platte, Nebraska [1] Leadership Background - Shannon Booth has over eight years of experience overseeing market-leading television, digital, and streaming products in various Nebraska communities and has held multiple management positions at KCRG in Cedar Rapids, Iowa, for 18 years [3] - Jacque Harms has a media career spanning over 35 years, starting at KNOP in North Platte and previously serving as General Manager of WTOK (ABC) in Meridian, Mississippi, and KKTV (CBS) in Colorado Springs [5][6] Company Overview - Gray Media, Inc. is the largest owner of top-rated local television stations and digital assets in the U.S., serving 113 television markets and reaching approximately 37% of U.S. television households [7] - The company operates 78 markets with the top-rated television station and 99 markets with the first and/or second highest-rated television station during 2024, along with the largest Telemundo Affiliate group [7]

Urban One (UONE) Q1 2025 Earnings Call May 13, 2025 10:00 AM ET Company Participants Alfred Liggins - CEOPeter Thompson - Executive VP & CFOBen Briggs - DirectorKen Silver - Managing Director Conference Call Participants Aaron Watts - Managing Director, Media, Entertainment, Cable, & Satellite Credit Analyst Operator Ladies and gentlemen, thank you for standing by, and welcome to the Urban One twenty twenty five First Quarter Earnings Call. As a reminder, this conference is being recorded. We will begin thi ...

Urban One (UONE) Q1 2025 Earnings Call May 13, 2025 10:00 AM ET Speaker0 Ladies and gentlemen, thank you for standing by, and welcome to the Urban One twenty twenty five First Quarter Earnings Call. As a reminder, this conference is being recorded. We will begin this call with the following safe harbor statement. During this conference call, Urban One will be sharing with you certain projections or other forward looking statements regarding future events or its future performance. Urban One cautions you tha ...

Core Insights - Fox is launching a new subscription-based streaming service called "Fox One" before the fall American football season to expand its audience beyond cable television [1] - The company reported quarterly profit and revenue that exceeded Wall Street expectations, driven by a significant increase in advertising revenue from the broadcast of "Super Bowl LIX" [2][6] - Fox's advertising revenue surged by 65% to $2.04 billion, surpassing estimates, while total revenue rose 27% to $4.37 billion [8] Streaming Strategy - Fox has primarily focused on ad revenue from its free Tubi streaming service, which has approximately 97 million monthly active users, rather than competing directly in the streaming race [3] - The company plans to partner with other distributors and services for Fox One, potentially offering bundled deals to reduce subscriber churn [3][9] - CEO Lachlan Murdoch emphasized that the pricing for Fox One will be healthy and will not undercut cable subscribers [4] Advertising Performance - The broadcast of the Super Bowl attracted an estimated 127.7 million viewers, marking the largest audience in TV history for a single-network telecast [5][9] - Advertisers paid up to $8 million for 30 seconds of commercial time during the Super Bowl, reflecting the high demand for advertising on Fox's platforms [5]

Financial Data and Key Metrics Changes - Total company advertising revenue grew 65% in the quarter, driven by a record-breaking Super Bowl generating over $800 million in gross advertising revenue [7][16] - Total revenues increased by 27%, with record free cash flow achieved [16] - Adjusted EBITDA was $856 million, down from $891 million in the prior year quarter due to higher expenses [17] - Net income attributable to Fox stockholders was $346 million, or $0.75 per share, compared to $666 million, or $1.40 per share in the prior year [17] Business Line Data and Key Metrics Changes - Cable Network Programming segment saw 11% revenue growth and 7% EBITDA growth, with cable advertising revenues up 26% [18] - Television segment delivered 40% revenue growth, with advertising revenues increasing 77% due to the Super Bowl [19] - Tubi experienced a 35% year-on-year revenue growth, with total viewing time up 24% year-over-year in April [12][41] Market Data and Key Metrics Changes - Fox News finished the quarter as the most-watched cable network, with total day audience growing 48% and prime time ratings up over 30% [9][10] - Fox Sports ranked as the industry leader in live sports event viewership, accumulating 3.3 billion hours of sports event viewing, 17% better than the closest competitor [11] - Digital consumption trends for Fox News showed an 18% year-on-year growth in page views, reaching a record 11 billion views [10] Company Strategy and Development Direction - The company is focused on launching a direct-to-consumer service named Fox One, targeting the cordless market and aiming to avoid cannibalizing traditional cable subscribers [15][66] - Fox aims to leverage its strong assets in live sports and news programming to attract advertisers, with a disciplined approach to capital allocation [8][15] - The company is committed to maintaining strong relationships with traditional cable distributors while expanding its digital offerings [50][52] Management's Comments on Operating Environment and Future Outlook - Management noted no impact from the macro environment on business performance, with strong ratings and engagement [8] - The company is optimistic about the upcoming fiscal year, despite the absence of political advertising in fiscal 2026 [29] - Management expressed confidence in Tubi's growth trajectory and its potential to become a mainstream service [41][75] Other Important Information - The company repurchased an additional $800 million in shares, bringing the total repurchased to $6.4 billion since the buyback program began [21] - The company ended the quarter with approximately $4.8 billion in cash and $7.2 billion in debt, maintaining a strong balance sheet [21][43] Q&A Session Summary Question: Inquiry about FOX One and its pricing strategy - Management indicated that FOX One will target the cordless market and will not be priced at a discount, aiming for healthy pricing aligned with wholesale rates [26] Question: Update on brand advertising demand on Fox News - Over 200 new advertisers have been attracted since the election, with direct response advertising up over 30% and scatter pricing up over 50% [34][36] Question: Path to profitability for Tubi and capital allocation strategy - Tubi's revenue improved by 35% with a focus on engagement, and the company plans to continue investing in Tubi while maintaining a strong balance sheet [41][43] Question: Strategy around direct-to-consumer offerings and affiliate revenue growth - The company remains supportive of traditional cable distribution while launching a D2C service targeting cord-nevers, with a focus on maintaining affiliate relationships [50][52] Question: Digital investments and future plans for the Fox Lot - Digital investments are expected to decrease slightly, and the company plans to fill the office space vacated by Disney with high-demand sound stages [71][75]

Fox (FOX) Q3 2025 Earnings Call May 12, 2025 08:30 AM ET Company Participants Gabrielle Brown - Executive VP & Chief Investor Relations OfficerLachlan Murdoch - Executive Chairman & CEOSteve Tomsic - Chief Financial OfficerMichael Morris - Senior Managing DirectorJessica Reif Ehrlich - Managing DirectorBenjamin Swinburne - Head of U.S Media ResearchMichael Ng - Managing Director - Global Investment Research Conference Call Participants John Hodulik - Telecom and Cable AnalystSteven Cahall - Managing Directo ...

Financial Data and Key Metrics Changes - Total company advertising revenue grew 65% in the quarter, driven by a record-breaking Super Bowl generating over $800 million in gross advertising revenue [6][17] - Total revenue increased by 27%, with record free cash flow achieved [17] - Adjusted EBITDA was $856 million, down from $891 million in the prior year quarter, primarily due to higher expenses [18] - Net income attributable to Fox stockholders was $346 million, or $0.75 per share, compared to $666 million, or $1.40 per share in the prior year [18] Business Line Data and Key Metrics Changes - Cable Network Programming segment revenue grew 11%, with advertising revenues up 26% due to strong Fox News ratings [19] - Television segment revenue increased by 40%, with advertising revenues up 77%, largely due to the Super Bowl [20] - Tubi's revenue grew 35% year on year, with total viewing time up 24% year over year in April [12][41] Market Data and Key Metrics Changes - Fox News finished the quarter as the most-watched cable network, with total day audience growth of 48% and demo growth of 58% [9] - Fox Sports ranked as the industry leader in live sports event viewership, accumulating 3.3 billion hours of viewing, 17% better than the closest competitor [11] - Digital consumption trends showed Fox News digital grew page views by 18% year on year, reaching a record 11 billion views [10] Company Strategy and Development Direction - The company is focused on launching a direct-to-consumer service named Fox One, targeting the cordless market [15][66] - Fox aims to leverage its strong assets in live sports and news programming to attract advertisers [7][8] - The company plans to continue investing in Tubi and its digital properties while maintaining a strong balance sheet [41][76] Management Comments on Operating Environment and Future Outlook - Management noted no impact from the macro environment on business performance, with strong ratings and engagement [7] - The company is optimistic about the upcoming fiscal year, despite the absence of political advertising in fiscal 2026 [30] - Management highlighted the importance of maintaining traditional cable distribution while launching new digital services [52] Other Important Information - The company repurchased $800 million in shares, bringing the total repurchased to $6.4 billion since the buyback program began [22] - The company ended the quarter with approximately $4.8 billion in cash and $7.2 billion in debt [22] Q&A Session All Questions and Answers Question: Inquiry about FOX One pricing and addressable market - Management indicated that pricing for FOX One will be in line with wholesale pricing, targeting the cordless market and avoiding traditional cable subscribers [27][28] Question: Update on demand from brand advertisers on Fox News - Over 200 new advertisers have been added since the election, with direct response advertising up over 30% and scatter pricing up over 50% [34][36] Question: Path to profitability for Tubi and balance sheet considerations - Tubi's revenue improved by 35% with total viewing time up 18%, and the company plans to continue investing in Tubi while maintaining a strong balance sheet [41][44] Question: Strategy around direct-to-consumer and affiliate revenue growth - The company remains supportive of traditional cable distribution while launching a D2C service targeting cord-nevers, with a focus on maintaining healthy affiliate relationships [52][55] Question: Update on digital investments and Disney's plans for the Fox Lot - Digital investments are expected to decrease slightly, and Disney will vacate office space on the Fox Lot, which is expected to be filled easily due to high demand [76][78]

Core Viewpoint - Fox Corporation (FOXA) is expected to report its third-quarter fiscal 2025 results on May 12, with earnings estimated at 93 cents per share, reflecting a 14.68% decline year-over-year, while revenues are projected to grow by 20.42% to $4.15 billion [1]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for FOXA's earnings is 93 cents per share, which is an increase of 3 cents over the past 30 days [1]. - The revenue consensus is set at $4.15 billion, indicating a 20.42% growth compared to the same quarter last year [1]. Group 2: Recent Performance and Trends - FOXA has consistently beaten the Zacks Consensus Estimate in the last four quarters, with an average surprise of 24.20% [2]. - The company's advertising revenues rose by 21% year-over-year to $2.42 billion in the second quarter of fiscal 2025, which is expected to positively impact the third quarter results [3]. - The Super Bowl broadcast in February was sold out at record-high pricing, contributing to the positive momentum in sports broadcasting for FOXA [4]. - The NEWS division has shown strong performance, with increased viewership translating into significant advertising revenue growth [5]. Group 3: Cost Considerations - FOXA faced higher expenses in the second quarter of fiscal 2025 due to increased sports programming rights amortization, production costs, and digital costs associated with Tubi, which may pressure profit margins in the upcoming quarter [6]. Group 4: Earnings Prediction Model - According to the Zacks model, FOXA has an Earnings ESP of -1.08% and a Zacks Rank of 2 (Buy), indicating a lower likelihood of an earnings beat compared to other stocks [7].