Fox Corporation

Fox Corporation

File:Fox Corporation logo.svg Logo used since 2019
Company type	Public
Industry	Mass media
Founded	March 19, 2019 (2019-03-19) in New York City, United States
Founder	21st Century Fox (spin-off)
Headquarters	Midtown Manhattan, New York City , United States
Area served	Worldwide
Key people	Lachlan Murdoch (Chairman and CEO), Rupert Murdoch (Chairman emeritus)
Products	Television broadcasting, news media, sports media, streaming services
Revenue	US$13.98 billion (FY 2024)
Operating income	US$1.837 billion (FY 2024)
Net income	US$1.501 billion (FY 2024)
Total assets	US$21.97 billion (FY 2024)
Total equity	US$10.71 billion (FY 2024)
Number of employees	10,200 (2024)
Website	www.foxcorporation.com

Fox Corporation (often referred to as Fox Corp or simply Fox) is a global American media enterprise headquartered at 1211 Avenue of the Americas in Midtown Manhattan. It is incorporated in Reno, Nevada and maintains additional offices in Burbank, California. Named in honor of William Fox (producer), the company emerged on March 19, 2019, following the spin-off of television broadcasting, news, and sports assets from 21st Century Fox. Control of Fox Corp resides with Lachlan Murdoch, who holds 36% voting power through a family trust. Rupert Murdoch acts as chairman emeritus, while Lachlan Murdoch fulfills the roles of chairman and CEO.

Fox Corp’s primary concentration lies within television broadcasting, news media, and sports sectors. Its principal holdings encompass Fox Broadcasting Company, Fox Television Stations, Fox News, Fox Business, Fox Sports, Tubi, and Fox One. Media properties such as newspapers remain under the umbrella of News Corp, also governed by Rupert Murdoch after the 2013 division from News Corporation alongside 21CF. On September 21, 2023, Rupert Murdoch declared his intention to retire as chairman effective November 2023.

For fiscal year 2024, Fox reported revenues totaling US$13.98 billion, with operating income reaching US$1.837 billion and net income amounting to US$1.501 billion. The company’s assets are valued at US$21.97 billion while equity stands at US$10.71 billion. Globally, Fox employs roughly 10,200 individuals. Its major operational units include Fox Entertainment, Fox Television Stations, Fox News Media, Fox Sports Media Group, and Tubi Media Group.

Formation

On December 14, 2017, the Walt Disney Company revealed plans to purchase the motion picture, television production, cable entertainment, and direct broadcast satellite divisions of 21st Century Fox (previously part of News Corporation), which included 20th Century Fox and FX Networks, for $52.4 billion. The remaining assets were consolidated into a new entity known as "New Fox," which preserved ownership of Fox’s television network and broadcast stations, Fox News, national Fox Sports operations, along with the 20th Century Fox studio lot (leased to Disney for seven years). Although Fox’s regional sports networks were initially part of this group, they were later divested following antitrust concerns raised by the Department of Justice due to Disney’s ESPN holdings.

In May 2018, Lachlan Murdoch was appointed to lead New Fox instead of James Murdoch. During mid-2018, Comcast launched competitive bids for both the Fox assets targeted by Disney and Sky plc—a British broadcaster partially owned by 21st Century Fox. To outbid Comcast, Disney raised its offer to $71.3 billion in July 2018. British regulators required a blind auction for Sky plc, which Comcast ultimately won.

By October 2018, plans were finalized for New Fox’s post-merger configuration to commence operations on January 1, 2019. In November that year, the independent company retained the original Fox branding. The U.S. Securities and Exchange Commission filed Fox Corporation’s registration statement on January 7, 2019.

Fox declared it would abstain from bidding on its former regional sports networks; these assets were acquired by a consortium led by Sinclair Broadcast Group. Fox licensed the FSN brand until Sinclair rebranded these networks as Bally Sports. Disney completed its acquisition on March 20, 2019. On March 19, Fox Corp began trading on the S&P 500 index as a replacement for 21st Century Fox shares. Former Speaker of the House Paul Ryan joined Fox Corp’s board concurrently.

As part of acquisition conditions, Disney agreed to phase out the use of the Fox brand by 2024 to avoid market confusion with Fox Corp.

Operations

Fox Corp commenced independent operations on March 19, 2019, with Lachlan Murdoch serving as Chairman and CEO. Shortly thereafter, he announced an employee stock distribution program linked to length of service.

In May 2019, Fox Sports invested $236 million to acquire a 4.99% share in Canadian online gambling firm The Stars Group, leading to the launch of U.S. sports betting offerings under the Fox Bet brand. Two months later, in July 2019, Fox Entertainment introduced SideCar, a content development division headed by Gail Berman; this unit was subsequently shuttered in June 2020.

During August 2019, Fox purchased a controlling 67% interest in fintech company Credible Labs for $397 million, alongside acquiring animation studio Bento Box Entertainment for $50 million. On April 20, 2020, Fox expanded its streaming portfolio by acquiring Tubi for $440 million. In September 2021, Fox secured TMZ from WarnerMedia for approximately $50 million and integrated it into Fox Entertainment. Later that year, the company also added film and television production entity MarVista Entertainment to its holdings.

September 2022 marked the launch of Fox Entertainment Studios, Fox’s inaugural fully internal television production division; its first project was the series Monarch. Simultaneously, Fox resumed international content distribution through the establishment of Fox Entertainment Global.

On October 14, 2022, Rupert Murdoch established a special committee to investigate a potential merger between Fox and News Corp, effectively reversing their 2013 separation. While Lachlan Murdoch endorsed the plan, James Murdoch and numerous shareholders opposed it. The merger proposal was ultimately abandoned in January 2023.

In April 2023, Fox created Tubi Media Group as an independent digital division consolidating Tubi, Credible Labs, Blockchain Creative Labs, and other digital assets, appointing Paul Cheesbrough as its CEO.

By September 2024, Rupert Murdoch attempted to revoke voting rights from his children—excluding Lachlan—via a family trust arrangement; however, a Nevada court ruled against this move.

February 2025 saw Fox expand into podcasting by acquiring Red Seat Ventures under the Tubi Media Group umbrella.

In May 2025, Fox unveiled Fox One, a streaming platform aimed at cord-cutters and cord-nevers that offers access to the Fox broadcast network along with cable channels; this service launched on August 21.

June 2025 featured Fox’s acquisition of Caliente TV, a Mexican sports broadcaster that bolstered its sports programming lineup and presence within Mexico. Carlos Martinez was appointed Executive Vice President and Managing Director for Latin America.

In July 2025, Fox acquired a one-third ownership stake in Penske Entertainment—the proprietor of the IndyCar Series and Indianapolis Motor Speedway—securing media rights for IndyCar starting with the 2025 season.

In October 2025, Fox Entertainment invested in Holywater, a company specializing in vertical video content; as part of this agreement, Fox Entertainment Studios committed to producing over 200 vertical video titles for My Drama within two years.

Assets

The corporation consists of former 21st Century Fox media and broadcasting assets retained post spin-off, including Fox Broadcasting Company and Fox Sports Media Group.

See also

• Succession of Rupert Murdoch – a 2024 court case