Newly Created Role Centralizes Ad Sales Marketing Across the FOX PortfolioNEW YORK, June 5, 2025 /PRNewswire/ -- Accomplished marketing executive Puja Vohra has joined Fox Corporation (Nasdaq: FOXA, FOX) as Chief Marketing Officer and Executive Vice President, Advertising Sales reporting to Jeff Collins, President, Advertising Sales, Marketing and Brand Partnerships.In this newly created role, Vohra will be responsible for developing and executing ad sales marketing strategies spanning the FOX portfolio whi ...

Core Viewpoint - Fox (FOXA) has demonstrated strong financial performance and growth potential, particularly in its Television and Cable Networking segments, making it an attractive investment opportunity for 2025 [2][8]. Financial Performance - In Q3 fiscal 2025, Fox reported a 27% increase in total revenues and achieved the highest free cash flow in its history, exceeding $1.9 billion [3]. - The Super Bowl broadcast contributed over $800 million in advertising revenues, marking it as the most-watched telecast in U.S. history [3]. Segment Performance - Tubi, Fox's free streaming platform, experienced a 35% year-over-year revenue increase, with rising engagement and view time [4]. - The cable segment benefited from a 26% increase in ad revenues, bolstered by Fox News being the most-watched cable channel [4]. Growth Strategy - Fox's growth strategy centers on live content from its core brands: FOX News, FOX Sports, and the FOX Network, capitalizing on the rising demand for live programming [5]. - The company anticipates steady growth in affiliate fees, which will support long-term revenue growth [5]. Market Position - FOX News ranks as the second most trusted and top-rated news channel in the U.S., with FOX Nation gaining traction through 700 hours of original content [6]. Earnings Estimates - The Zacks Consensus Estimate for FOXA's 2025 earnings is $4.52 per share, reflecting a 31.78% year-over-year growth, with revenues projected at $16.11 billion, indicating a 15.24% increase [7]. - FOXA has consistently beaten earnings estimates over the past four quarters, with an average surprise of 25.97% [7]. Investment Outlook - Fox's strong fundamentals, record free cash flow, and momentum in streaming services position it well for continued growth and investor confidence in 2025 [8]. - The company currently holds a Zacks Rank 2 (Buy) and a Growth Score of B, indicating a favorable investment opportunity [9].

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.

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].

NEW YORK and LOS ANGELES, May 7, 2025 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX) today announced that President and Chief Operating Officer John Nallen will participate in MoffettNathanson's Media, Internet & Communications Conference 2025 on May 14, at approximately 2:20pm (Eastern), 11:20am (Pacific).A live and archived webcast of the presentation will be available at investor.foxcorporation.com. ABOUT FOX CORPORATIONFox Corporation produces and distributes compelling news, sports, and entertainm ...