US Market News
1日前
FOX CORPORATION TO ACQUIRE ROKU, INC.June 15, 2026 7:04 AM
PR Newswire (US) Combination Creates a Scaled Media and Technology Platform with Superior Reach, Engagement and Monetization CapabilityUnites FOX's Premium Live Content with Roku's Leading Streaming Platform Reaching Over 100 Million HouseholdsCombined Company to Have One of the Largest Streaming Businesses in the U.S., Including Tubi and The Roku ChannelFOX's Shareholder Capital Return Program to Continue Uninterrupted While Maintaining its Current Investment Grade RatingNEW YORK and SAN JOSE, Calif., June 15, 2026 /PRNewswire/ -- June 15, 2026 – Fox Corporation (Nasdaq: FOXA, FOX) ("FOX" or the "Company") and Roku, Inc. (Nasdaq: ROKU) ("Roku") today announced they have entered into a definitive agreement under which FOX will acquire Roku for $160.00 per share in a combination of cash and FOX Class A common stock, valuing Roku at approximately $22 billion in enterprise value.The transaction combines FOX's leading sports, news and entertainment content and the Tubi service, with Roku's leading connected TV platform, The Roku Channel, first-party data and direct relationship with more than 100 million global streaming households. Together, FOX and Roku will create a scaled next-generation media and technology company positioned at the intersection of two of the most important forces reshaping video consumption: the enduring primacy of live sports and news, and the continued rise of streaming.FOX and Roku are committed to continuing to operate Roku as an open, partner-friendly platform and to the continued ubiquitous distribution of FOX content. On a pro forma basis, the combined company will become the third-largest player in U.S. television by share of viewing, with an attractive mix of FOX's sports, news, and entertainment content, alongside streaming services Tubi and The Roku Channel. That distribution and engagement scale spans every major viewing environment – broadcast, cable, local and streaming – creating broad and diversified reach that benefits viewers, partners and advertisers.Lachlan K. Murdoch, Executive Chair and Chief Executive Officer of Fox Corporation, said:"This is a defining moment for FOX, and a natural extension of the deliberate and focused strategy we have been executing for nearly a decade. In 2019, we reoriented the company around live news and sports. In 2020, we acquired Tubi and under our stewardship it has become one of the most successful businesses in streaming. Today, we take the next step: bringing together the most valuable live content portfolio in video consumption with the preeminent streaming platform through which America watches it. This combination will transform the scope of our company into high-growth verticals and yield a step change in our overall growth profile. And we are executing this acquisition from a position of financial strength – maintaining our investment grade balance sheet while providing our shareholders with an uninterrupted return of capital program in the form of share buybacks and dividends. Roku pioneered streaming TV and scaled it into a leading CTV platform. Together, we intend to lead its next chapter."Anthony Wood, Founder, Chairman and Chief Executive Officer of Roku, said:"Over the past two decades, we've built Roku into the leading TV streaming platform, reaching more than 100 million households globally and reshaping how people discover and enjoy entertainment. I'm incredibly proud of what our team has built, and the combination with FOX is an extraordinary opportunity to accelerate our vision, scale faster and innovate more aggressively for viewers, partners and advertisers. That's why our Board of Directors unanimously determined after concluding its strategic review process that this transaction offers a significant premium to Roku shareholders while also providing them with the opportunity to participate in the compelling future upside of the combined company. I couldn't be more excited about what we'll accomplish together."Key Strategic Benefits of the Combination Include:Increases scale and reach: The transaction pairs the leader in live news and sports with the leading connected TV platform. Roku's platform has leading scale in the attractive, high growth connected TV vertical, reaching over 100 million global streaming households, including more than half of all U.S. broadband households. FOX is #1 in live news and sports, with a portfolio including the NFL, MLB, NASCAR, Big Ten, FIFA World Cup, FOX News and FOX Business that represents some of the most valuable appointment-viewing content in television. Together, FOX and Roku will encompass premium live content, broad distribution and significant audience reach across linear and streaming.Expands position in high growth verticals: The acquisition of Roku positions FOX across the full video ecosystem and provides a wider entry into the high growth segment of connected TV, particularly advertising and streaming subscriptions.Creates a more powerful streaming platform: Brings together FOX's premium content and advertising capabilities with Roku's consumer interface, home screen, platform technology and direct viewer relationships to enhance content discovery, deepen engagement and create a more compelling streaming experience for consumers and content partners.Enhances long-term growth profile: Advances FOX's business mix toward high growth streaming and connected TV verticals and maintains a balanced mix across advertising and distribution businesses, while strengthening the combined company's long-term growth and financial profile and maintaining FOX's disciplined capital allocation approach.Transaction DetailsFOX is acquiring Roku in a cash-and-stock transaction valued at $160.00 per ROKU share. FOX will pay $96.00 in cash and 0.9693 shares of FOX Class A common stock for each Roku Class A and Class B share outstanding immediately prior to the effective time of the merger. The stock consideration represents $64.00 per ROKU share based on a reference price of $66.03 per share, the 10-day volume-weighted average price of FOX Class A common stock as of June 10, 2026.Upon closing, existing FOX shareholders are expected to own approximately 73% of the combined company and Roku shareholders approximately 27%. The transaction has been unanimously approved by the Boards of Directors of both companies. The transaction is expected to strengthen FOX's long-term growth profile, accelerate its digital strategy, be accretive to free cash flow per share by the second full year after closing, and achieve approximately $400 million of run-rate cost synergies with additional revenue upside.FOX expects to fund the cash portion of the transaction consideration with a combination of new debt and cash on hand. FOX has obtained $12.0 billion of fully committed bridge financing from Morgan Stanley Senior Funding, Inc. At closing, the company expects pro forma net leverage to be approximately 2.8x, inclusive of 50% credit for run-rate cost synergies. Additional detail on financing terms will be included in the companies' required filings with the Securities and Exchange Commission.Roku Founder, Chairman and Chief Executive Officer Anthony Wood will have an ongoing role at the combined company and will join the FOX Board of Directors following the close of the transaction.The transaction is subject to customary closing conditions, including approvals by FOX and Roku shareholders, receipt of U.S. and certain non-U.S. regulatory approvals and other customary conditions. In connection with execution of the acquisition agreement, Anthony Wood and certain associated trusts and related entities that together hold at least a majority of the voting power of the Roku stock entered into a voting and support agreement agreeing to vote in favor of the transaction. LGC Holdco LLC also entered into a voting and support agreement with respect to the issuance of FOX shares in the transaction. The transaction is expected to close in the first half of calendar year 2027.In connection with the transaction, the companies expect to file a registration statement on Form S-4 containing a joint proxy statement/prospectus with the Securities and Exchange Commission.Investor Conference Call and PresentationFOX and Roku will host a joint investor conference call today at 8:00 AM Eastern Time to discuss the transaction. A live webcast and related presentation materials will be available on FOX's investor relations website at investor.foxcorporation.com and Roku's investor relations website at www.roku.com/investor. An archived replay and the presentation will be available following the call.About Fox CorporationFox Corporation produces and distributes compelling news, sports and entertainment content through its primary iconic domestic brands, including FOX News Media, FOX Sports, Tubi Media Group, FOX Entertainment and FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of FOX's footprint allow the Company to deliver content that engages and informs audiences, develop deeper consumer relationships and create more compelling product offerings. For more information about Fox Corporation, please visit www.foxcorporation.com.About Roku, Inc.Roku pioneered streaming on TV. Today, it is the #1 TV streaming platform in the U.S., Canada, and Mexico by hours streamed (Hypothesis Group, Dec. 2025). Roku connects viewers to the content they love, enables content publishers to build and monetize large audiences through advertising and subscriptions, and provides advertisers with unique capabilities to reach and engage consumers. Roku streaming players and Roku-made TVs are available at major retailers, and licensed Roku TV™ models are sold by leading TV brands in more than 15 countries around the world. Roku also owns and operates The Roku Channel, the home of premium and free entertainment; Howdy, a low-cost subscription service; and Frndly TV, a live TV streaming service. Roku is headquartered in San Jose, Calif., U.S.A.AdvisorsAllen & Company LLC is serving as lead financial advisor to Fox Corporation. Morgan Stanley & Co. LLC is also serving as a financial advisor to FOX and Morgan Stanley Senior Funding, Inc. is providing a committed $12 billion bridge financing facility. Goldman Sachs & Co. LLC is also serving as a financial advisor to FOX. Weil, Gotshal & Manges LLP is serving as legal counsel to FOX.Qatalyst Partners is serving as exclusive financial advisor to Roku, and Goodwin Procter LLP is serving as legal counsel to Roku.Important Information About the Transaction and Where to Find ItIn connection with the proposed transaction between FOX and Roku, FOX will file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of FOX and Roku and that will also constitute a prospectus of FOX. FOX and Roku may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the joint proxy statement/prospectus or registration statement or any other document which FOX or Roku may file with the SEC. INVESTORS AND SECURITY HOLDERS OF FOX AND ROKU ARE URGED TO READ THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the registration statement and the joint proxy statement/prospectus (when available) and other documents filed with the SEC by FOX and Roku through the web site maintained by the SEC at www.sec.gov. These documents, once available, also will be made available free of charge on FOX's website at https://investor.foxcorporation.com/ or on Roku's website at https://www.roku.com/investor.No Offer or SolicitationThis communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.Cautionary Notes on Forward-Looking StatementsThis communication includes "forward-looking statements" within the meaning of federal securities laws, including Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") by the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed transaction between Fox Corporation ("FOX") and Roku, Inc. ("Roku"). In this context, forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the expected timing and structure of the proposed transaction, the ability of the parties to complete the proposed transaction, the expected benefits of the proposed transaction, including future financial and operating results and strategic benefits, the tax consequences of the proposed transaction, and the combined company's plans, objectives, expectations and intentions, legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements.These forward-looking statements are based on FOX's and Roku's current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from FOX's and Roku's current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) that one or more closing conditions to the proposed transaction, including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the proposed transaction, may require conditions, limitations or restrictions in connection with such approvals or that the required approval by the stockholders of FOX or stockholders of Roku may not be obtained; (2) the risk that the proposed transaction may not be completed on the terms or in the time frame expected by FOX and Roku, or at all; (3) unexpected costs, charges or expenses resulting from the proposed transaction; (4) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; (5) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the proposed transaction or integrating the businesses of FOX and Roku, on the expected timeframe or at all; (6) the ability of the combined company to implement its business strategy; (7) difficulties and delays in the combined company achieving revenue and cost synergies; (8) inability of the combined company to retain and hire key personnel; (9) the occurrence of any event that could give rise to termination of the proposed transaction; (10) the risk that stockholder litigation in connection with the proposed transaction or other litigation, settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (11) evolving legal, regulatory and tax regimes; (12) changes in general economic, competitive, technological and/or industry-specific conditions affecting the businesses and industries in which FOX and Roku operate; (13) actions by third parties, including government agencies; (14) risks that any debt financing anticipated in connection with the proposed transaction is not obtained or that such financing cannot be obtained on the anticipated timing or terms or unexpected costs or expenses in connection therewith; (15) risks related to the disruption of management time from ongoing business operations due to the pendency of the proposed transaction, or other effects of the pendency of the proposed transaction on the relationship of any of the parties to the transaction with their employees, customers, advertisers, content partners, distributors, device partners, suppliers or other counterparties; and (16) other risk factors detailed from time to time in FOX's and Roku's reports filed with the Securities and Exchange Commission (the "SEC"), including FOX's and Roku's annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC, including documents that will be filed with the SEC in connection with the proposed transaction. The foregoing list of important factors is not exclusive.Any forward-looking statements speak only as of the date of this communication. Neither FOX nor Roku undertakes, and each party expressly disclaims, any obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.Participants in the SolicitationFOX, Roku and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding FOX's directors and executive officers, including a description of their direct interests, by security holdings or otherwise, is available in FOX's Annual Report on Form 10-K for the year ended June 30, 2025, under the heading "Directors, Executive Officers and Corporate Governance", and its proxy statement filed on September 25, 2025, under the headings "Proposal No.1: Election of Directors" and "Executive Officers of Fox Corporation," which are filed with the SEC. Information regarding Roku's directors and executive officers, including a description of their direct interests, by security holdings or otherwise, is available in Roku's Annual Report on Form 10-K for the year ended December 31, 2025, under the heading "Directors, Executive Officers and Corporate Governance" and its proxy statement filed on April 24, 2026, under the heading "Board of Directors and Corporate Governance" and "Executive Officer Biographies," which are filed with the SEC. A more complete description will be available in the registration statement on Form S-4 and the joint proxy statement/prospectus when filed. View original content to download multimedia:https://www.prnewswire.com/news-releases/fox-corporation-to-acquire-roku-inc-302800240.htmlSOURCE Fox Corporation Original: FOX CORPORATION TO ACQUIRE ROKU, INC.
US Market News
4週前
FOX Sports and Fox Corporation Announce FIFA World Cup 2026™ Community Impact InitiativesMay 21, 2026 9:13 AM
PR Newswire (US) Company Commits $500,000 to Boys & Girls Clubs of America to Grow Access to Soccer, Train Coaches and Advance Workforce Readiness for Club TeensWATCH HERE: Alexi Lalas, Brian Kilmeade Unveil $500,000 Commitment to Boys & Girls Club of America Live on FOX & FRIENDS LOS ANGELES, May 21, 2026 /PRNewswire/ -- FOX Sports, America's English-language home for the FIFA World Cup 2026™, and Fox Corporation today announced community impact initiatives leading up to the anticipated tournament underscored with a $500,000 commitment to Boys & Girls Clubs of America (BGCA).The investment expands FOX Sports' dedication to growing access to soccer for youth and is part of a broader, multi-year community impact platform collaboration with BGCA and nonprofit organization, Common Goal, designed to create lasting opportunity for young people through soccer across the United States."As FOX Sports prepares to present the largest FIFA World Cup™ in history, we have a unique opportunity to ensure the tournament's legacy is measured not only by unforgettable moments on the pitch, but by the lasting impact it creates in communities nationwide," said Eric Shanks, CEO and Executive Producer, FOX Sports. "We are honored to support the efforts of Boys & Girls Clubs of America, Common Goal, U.S. Soccer Foundation and others to expand access to soccer and create opportunities for the next generation both on and off the field."The $500,000 investment will support youth soccer programming offered by BGCA, expanding access to the sport and creating new opportunities for young athletes nationwide. The legacy commitment is expected to engage more than 26,000 new youth across the country, while helping to train coaches and create job opportunities for Club teens as referees. The donation also enables local clubs nationwide to host Soccer Forward Fests, community-based events designed by U.S. Soccer to celebrate and deepen engagement in the sport."Soccer can open up new opportunities for youth and this collaboration with FOX Sports will allow us to support young athletes across the country," said Jim Clark, President and CEO of Boys & Girls Clubs of America. "This monumental donation will allow us to uplevel our support for players, coaches, referees and more, contributing to their success on and off the soccer field."Building on its efforts from FIFA World Cup Qatar 2022™ and FIFA Women's World Cup Australia & New Zealand 2023™, FOX Sports is expanding its community initiatives ahead of the 2026 tournament through a growing ecosystem of impact organizations including Common Goal, U.S. Soccer Foundation, and its own long running FOX Sports University program. These combined efforts will increase access to the game, support mental health and create pathways for the next generation of players and professionals. FOX Sports is the only national broadcaster to take Common Goal's 1% pledge, committing one percent of its tournament coverage since 2022 to tell the story of soccer for social good across its platforms.Together with Common Goal, FOX Sports will continue using the power of soccer to drive positive social impact through initiatives focused on inclusion, well-being and access to the game. This includes the company's commitment to the next chapter of "Create the Space," the mental health initiative led by Common Goal and launched in 2023 together with U.S. Women's National Team defender Naomi Girma and FOX Sports and Fox Corporation during the FIFA Women's World Cup 2023™. The initiative delivers youth-focused mental wellness training programs to soccer-based youth organizations across North America and the Caribbean, equipping the next generation with the tools to thrive both on and off the field."I'm proud of the work we've been able to accomplish at Common Goal to bring more awareness around how mental health impacts athletes. This support from FOX Sports and Fox Corporation allows us to make even stronger and more meaningful impact and change for good," said Girma.FOX Sports is also further investing in the future workforce of sports through FOX Sports University, a longstanding program that connects college students with real-world experience and career pathways in the industry. Now in its 19th year, the program reaches dozens of universities across the country and more than 500 students annually. Leading up to FIFA World Cup 2026™, FOX Sports University partnered with 20 colleges on FIFA World Cup™-focused programming featuring a "World Cup of FOX Sports U" competition and nationwide campus speaker series with FOX Sports broadcasters, executives and leaders in the world of soccer.FOX Sports' expanded community impact platform reflects a long-term commitment to leveraging the power of sport to create meaningful change. Together with Fox Corporation and nonprofit organizations across the country, the company remains focused on building a lasting legacy that extends well beyond the tournament and helps shape the future of soccer in the United States.For more information, visit FOX Sports Press Pass, and follow @FOXSportsPR.About FOX Sports
FOX Sports is the umbrella entity representing Fox Corporation's wide array of multi-platform US-based sports assets. Built with brands capable of reaching more than 100 million viewers in a single weekend, the business has ownership and interests in linear television networks, digital and mobile programming, broadband platforms, multiple web sites, joint-venture businesses and several licensing relationships. FOX Sports includes the sports television arm of the FOX Network; FS1, FS2, FOX Soccer Plus and FOX Deportes. FOX Sports' digital properties include the FOX Sports App and FOXSports.com, which provides instant scores, stats and stories from across the sports world. Live streaming video of FOX Sports content is available via FOX One, Fox Corporation's wholly owned, direct to consumer streaming service. Also included in FOX Sports' portfolio are FOX's interests in joint-venture businesses Big Ten Network and the UFL and a licensing agreement that established the FOX Sports Radio Network.About Boys & Girls Clubs of America
For more than 160 years, Boys & Girls Clubs of America (BGCA.org) has provided a safe place for kids and teens to learn and grow. Clubs offer caring adult mentors, fun and friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Boys & Girls Clubs programming promotes academic success, good character and leadership, and healthy lifestyles. More than 5,500 Clubs serve over 4 million young people through Club membership and community outreach. Learn more at BGCA.org and on social media.About Common Goal
Common Goal has pioneered the football for good movement by connecting community organizations, amplifying proven approaches, and mobilizing collective action within and beyond soccer. Today, Common Goal brings together soccer's biggest impact collective - a global community of more than 200 best-in-class organizations across 117 countries, unlocking opportunities for over 3.6 million young people every year. View original content to download multimedia:https://www.prnewswire.com/news-releases/fox-sports-and-fox-corporation-announce-fifa-world-cup-2026-community-impact-initiatives-302779006.htmlSOURCE Fox Corporation Original: FOX Sports and Fox Corporation Announce FIFA World Cup 2026™ Community Impact Initiatives
US Market News
4週前
FOX Sports and Fox Corporation Announce FIFA World Cup 2026™ Community Impact InitiativesMay 21, 2026 9:13 AM
PR Newswire (US) Company Commits $500,000 to Boys & Girls Clubs of America to Grow Access to Soccer, Train Coaches and Advance Workforce Readiness for Club TeensWATCH HERE: Alexi Lalas, Brian Kilmeade Unveil $500,000 Commitment to Boys & Girls Club of America Live on FOX & FRIENDS LOS ANGELES, May 21, 2026 /PRNewswire/ -- FOX Sports, America's English-language home for the FIFA World Cup 2026™, and Fox Corporation today announced community impact initiatives leading up to the anticipated tournament underscored with a $500,000 commitment to Boys & Girls Clubs of America (BGCA).The investment expands FOX Sports' dedication to growing access to soccer for youth and is part of a broader, multi-year community impact platform collaboration with BGCA and nonprofit organization, Common Goal, designed to create lasting opportunity for young people through soccer across the United States."As FOX Sports prepares to present the largest FIFA World Cup™ in history, we have a unique opportunity to ensure the tournament's legacy is measured not only by unforgettable moments on the pitch, but by the lasting impact it creates in communities nationwide," said Eric Shanks, CEO and Executive Producer, FOX Sports. "We are honored to support the efforts of Boys & Girls Clubs of America, Common Goal, U.S. Soccer Foundation and others to expand access to soccer and create opportunities for the next generation both on and off the field."The $500,000 investment will support youth soccer programming offered by BGCA, expanding access to the sport and creating new opportunities for young athletes nationwide. The legacy commitment is expected to engage more than 26,000 new youth across the country, while helping to train coaches and create job opportunities for Club teens as referees. The donation also enables local clubs nationwide to host Soccer Forward Fests, community-based events designed by U.S. Soccer to celebrate and deepen engagement in the sport."Soccer can open up new opportunities for youth and this collaboration with FOX Sports will allow us to support young athletes across the country," said Jim Clark, President and CEO of Boys & Girls Clubs of America. "This monumental donation will allow us to uplevel our support for players, coaches, referees and more, contributing to their success on and off the soccer field."Building on its efforts from FIFA World Cup Qatar 2022™ and FIFA Women's World Cup Australia & New Zealand 2023™, FOX Sports is expanding its community initiatives ahead of the 2026 tournament through a growing ecosystem of impact organizations including Common Goal, U.S. Soccer Foundation, and its own long running FOX Sports University program. These combined efforts will increase access to the game, support mental health and create pathways for the next generation of players and professionals. FOX Sports is the only national broadcaster to take Common Goal's 1% pledge, committing one percent of its tournament coverage since 2022 to tell the story of soccer for social good across its platforms.Together with Common Goal, FOX Sports will continue using the power of soccer to drive positive social impact through initiatives focused on inclusion, well-being and access to the game. This includes the company's commitment to the next chapter of "Create the Space," the mental health initiative led by Common Goal and launched in 2023 together with U.S. Women's National Team defender Naomi Girma and FOX Sports and Fox Corporation during the FIFA Women's World Cup 2023™. The initiative delivers youth-focused mental wellness training programs to soccer-based youth organizations across North America and the Caribbean, equipping the next generation with the tools to thrive both on and off the field."I'm proud of the work we've been able to accomplish at Common Goal to bring more awareness around how mental health impacts athletes. This support from FOX Sports and Fox Corporation allows us to make even stronger and more meaningful impact and change for good," said Girma.FOX Sports is also further investing in the future workforce of sports through FOX Sports University, a longstanding program that connects college students with real-world experience and career pathways in the industry. Now in its 19th year, the program reaches dozens of universities across the country and more than 500 students annually. Leading up to FIFA World Cup 2026™, FOX Sports University partnered with 20 colleges on FIFA World Cup™-focused programming featuring a "World Cup of FOX Sports U" competition and nationwide campus speaker series with FOX Sports broadcasters, executives and leaders in the world of soccer.FOX Sports' expanded community impact platform reflects a long-term commitment to leveraging the power of sport to create meaningful change. Together with Fox Corporation and nonprofit organizations across the country, the company remains focused on building a lasting legacy that extends well beyond the tournament and helps shape the future of soccer in the United States.For more information, visit FOX Sports Press Pass, and follow @FOXSportsPR.About FOX Sports
FOX Sports is the umbrella entity representing Fox Corporation's wide array of multi-platform US-based sports assets. Built with brands capable of reaching more than 100 million viewers in a single weekend, the business has ownership and interests in linear television networks, digital and mobile programming, broadband platforms, multiple web sites, joint-venture businesses and several licensing relationships. FOX Sports includes the sports television arm of the FOX Network; FS1, FS2, FOX Soccer Plus and FOX Deportes. FOX Sports' digital properties include the FOX Sports App and FOXSports.com, which provides instant scores, stats and stories from across the sports world. Live streaming video of FOX Sports content is available via FOX One, Fox Corporation's wholly owned, direct to consumer streaming service. Also included in FOX Sports' portfolio are FOX's interests in joint-venture businesses Big Ten Network and the UFL and a licensing agreement that established the FOX Sports Radio Network.About Boys & Girls Clubs of America
For more than 160 years, Boys & Girls Clubs of America (BGCA.org) has provided a safe place for kids and teens to learn and grow. Clubs offer caring adult mentors, fun and friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Boys & Girls Clubs programming promotes academic success, good character and leadership, and healthy lifestyles. More than 5,500 Clubs serve over 4 million young people through Club membership and community outreach. Learn more at BGCA.org and on social media.About Common Goal
Common Goal has pioneered the football for good movement by connecting community organizations, amplifying proven approaches, and mobilizing collective action within and beyond soccer. Today, Common Goal brings together soccer's biggest impact collective - a global community of more than 200 best-in-class organizations across 117 countries, unlocking opportunities for over 3.6 million young people every year. View original content to download multimedia:https://www.prnewswire.com/news-releases/fox-sports-and-fox-corporation-announce-fifa-world-cup-2026-community-impact-initiatives-302779006.htmlSOURCE Fox Corporation Original: FOX Sports and Fox Corporation Announce FIFA World Cup 2026™ Community Impact Initiatives
US Market News
3月前
TUBI TURNS PASSION INTO PERFORMANCE AT IAB NEWFRONTMarch 24, 2026 2:00 PM
PR Newswire (US)
Announces New Interactive Ad Formats Including Scene Sense, Interactive Pause Ads and Connected ConversionsUnveils Strategic Partnerships with Amazon for Scaled Precision and Performance, and InMarket and Kochava for Outcome MeasurementAnnounces Exclusive Sports Culture Content with Creators Deestroying and Jesser; Plus Tubi Originals GAME ON and REMEMBER MEHighlights Recent Announcements with Apple TV, TikTok and Nielsen and the Upcoming FIFA World CupTM FOX Hub on TubiNEW YORK, March 24, 2026 /PRNewswire/ -- Tubi (www.tubitv.com), Fox Corporation's (NASDAQ: FOXA, FOX) free streaming service, today made a series of product, partnership and Original programming announcements during 'Tubitopia: An Advertiser's Paradise,' at IAB NewFronts in New York, hosted by Tiffany Haddish. Tubi leads free on-demand streaming by turning fandom into strong performance for advertisers, with full-funnel measurement and outcomes tied to business results. With over 100 million monthly active users streaming a billion hours a month, Tubi offers premium original content, creator-led stories and innovative ad products for brands seeking young and incremental audiences. "The future of entertainment is built on fan passion. As the second largest Free AVOD platform and the growing home for Gen Z, Tubi is the only streamer built from the ground up to turn passion into performance for advertisers," said Anjali Sud, CEO of Tubi. "With massive scale, original and exclusive programming on the pulse of culture, and industry-leading investments in ad tech, precision and measurement, we are helping advertisers achieve greater reach, relevance and efficiency at a time when they need it most."Tubi continues to expand ad tech investments, formats and partnerships to drive stronger advertiser outcomes. In addition, Tubi continues to invest in Gen Z–focused and sports culture original programming, creating new opportunities for brands to align with highly engaged audiences. With 100% addressable inventory, 95% on-demand viewing and more time spent viewing than broadcast and cable, Tubi uniquely helps brands engage fans and drive action.NEW INTERACTIVE AD FORMATS:Scene Sense: A new ad format that enhances the pause moment with an interactive overlay that surfaces relevant details about what a viewer is watching including casting, soundtrack, trivia, and more. Expanding on Tubi moments, our contextual targeting solution, Scene Sense uses scene-level signals, such as visual cues, tone, and sentiment, enabling brands to deliver timely and relevant display messaging that aligns with what's on screen when viewers pause content.Interactive Pause Ads: Tubi is expanding its Pause Ad experience with new engagement options, including carousels, trivia and polls. These formats allow brands to showcase multiple messages or products and encourage interaction while content is paused.Connected Conversions: A new product that connects CTV-to-mobile journeys to enable viewers to discover products and brands on their TV, then further engage with them or make purchases on mobile devices through push notifications, emails, or QR codes.STRATEGIC PARTNERSHIPS:Precision & Performance: Tubi is expanding its partnership with Amazon DSP to help advertisers extend reach across streaming TV supply. Tubi is one of the largest reach publishers on Amazon DSP as 10% of Tubi's audience is unique and incremental across Amazon's open internet streaming TV supply. Advertisers can now access an exclusive package, Tubi Priority Access, offering first-look access to this audience through Amazon DSP. Powered by Authenticated Graph technology exclusive to Amazon Ads, which recognizes 85% of Tubi supply against an Amazon user, advertisers can confidently reach verified and relevant audiences with highly addressable messaging to unlock incremental reach you won't find anywhere else.Outcome Measurement: Through its partnerships, Tubi supports advertisers who want to measure real-world outcomes with InMarket and Kochava. InMarket allows brands to directly measure sales performance, demonstrating how advertising on Tubi drives sales for Restaurant, Retail and CPG advertisers. Expanding Tubi's partnership with Kochava, Tubi's Studio advertisers can now measure the actual ticket sales and conversion activity for their campaigns through Fandango, connecting Tubi ad exposure to tangible box office performance outcomes, beyond basic delivery metrics.EXCLUSIVE SPORTS CULTURE PROGRAMMINGAltcast with Apple TV × Formula 1®: For the first time ever, Tubi is working with Apple TV to offer exclusive live F1 altcasts for multiple races during the 2026 Formula 1 season — available for free and across every device in the U.S. The altcasts will feature top creators who are experts on the sport to provide sharp race insight paired with entertaining commentary. This programming is designed to expand F1's appeal and broaden access for new, younger, and more digitally native audiences. The supported races with live F1 altcasts will be announced at a later date.Deestroying: Original content from popular creator Deestroying that blends sports, competition, and creator-driven storytelling, capturing the energy of digital-first fandom and the crossover between athletes, creators, and culture.JESSER'S ULTIMATE KICKOFF: Original programming from top creator Jesser and friends as they take on fun and crazy soccer challenges ranging from scoring goals, jumping in mystery pools, winning prizes, and competing against increasingly more difficult defenders!NEW TUBI ORIGINALS FOR GEN Z COMING SOONGAME ON: Talented gamer, Casey, is ready to win her high school's first esports tournament. But when she discovers her online arch-nemesis is Theo, the charming new kid she's starting to crush on, Casey decides to stay undercover and use their budding romance to study his moves in video game Eon Rush and take him down from the inside. With her supportive dad reminding her who she is beyond the headset, Casey's carefully calculated plan begins to unravel as fake feelings turn real. GAME ON begins production this month with Sky Katz (Surviving Summer) and Case Walker (The Other Two) in the leading roles alongside renowned voice actor Nolan North (Uncharted, Assassin's Creed series).REMEMBER ME: In this YA supernatural murder-mystery, Shari Cooper is dead. Like, fell from the top of a high-rise to the street below, dead. And one of her friends — is her killer. Now she has to solve her own murder from beyond the grave, before the relentless, soul-sucking Shadow that's stalking her gets to her first. REMEMBER ME recently wrapped production and stars Brec Bassinger (Final Destination Bloodlines) and Charlie Gillespie (Sidelined 2: Intercepted) in the leading roles.Tubi continues to demonstrate the power of fan-driven storytelling, featuring the world's largest collection of movies and TV shows, thousands of creator-led stories, and hundreds of Tubi Originals. The SIDELINED franchise has reached over 20 million viewers, alongside strong premieres for HOW TO LOSE A POPULARITY CONTEST, KISSING IS THE EASY PART, sports culture titles DESTINATION WORLD CUP 2026, GOOD TROUBLE WITH NICK KYRGIOS, THE MOMENT and GONZAGA. Sleeper hit by TikTik creator Kelon Campbell TERRI JOE: MISSIONARY IN MIAMI continues to achieve rave reviews, while upcoming titles including SUMMER'S LAST RESORT starring Sophia Bush, Jerry O'Connell and Violet McGraw, BUZZKILL with Siena Agudong and Brec Bassinger, HIVE with Sochi Gomez and R.L. STINE'S PUMPKINHEAD 2 gives fans even more to come back for. In the last year, 17 Tubi Original films have charted in Variety's weekly top 10 original stream films, per Luminate.Together, today's announcements build upon Tubi's continued momentum as a platform where premium content, culture, and innovation converge. Earlier this year the platform announced it will launch a FIFA World CupTM FOX Hub and simulcast two matches. Additionally, Tubi partnered with TikTok on a Creatorverse Incubator, deepened measurement through Nielsen's Audience Measurement and Streaming Platform Ratings, and released The Stream 2026: When Intention Becomes Attention, its annual cultural insights report examining how streaming entertainment is influencing consumer behavior.About Tubi
Boldly built for fandom, Tubi is a free on demand streaming service that entertains over 100 million monthly active users. Tubi offers the world's largest collection of Hollywood movies and TV shows, thousands of creator-led stories and hundreds of Tubi Originals made for the most passionate fans. Headquartered in San Francisco and founded in 2014, Tubi is part of Tubi Media Group, a division of Fox Corporation.
View original content to download multimedia:https://www.prnewswire.com/news-releases/tubi-turns-passion-into-performance-at-iab-newfront-302723129.htmlSOURCE Tubi
Original: TUBI TURNS PASSION INTO PERFORMANCE AT IAB NEWFRONT
US Market News
4月前
FOX REPORTS SECOND QUARTER FISCAL 2026 REVENUES OF $5.18 BILLION, NET INCOME OF $247 MILLION, AND ADJUSTED EBITDA OF $692 MILLIONFebruary 4, 2026 8:00 AM
PR Newswire (US)
NEW YORK, Feb. 4, 2026 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX; "FOX" or the "Company") today reported financial results for the three months ended December 31, 2025.The Company reported total quarterly revenues of $5.18 billion, an increase of $104 million or 2% from the amount reported in the prior year quarter. Distribution revenues increased 4%, primarily driven by 5% growth at the Cable Network Programming segment. Advertising revenues increased 1%, primarily due to higher sports and news pricing, continued digital growth led by the Tubi AVOD service, and the impact of additional MLB postseason games, partially offset by lower political advertising revenues and lower ratings. Content and other revenues were essentially unchanged from the prior year quarter.The Company reported quarterly net income of $247 million as compared to the $388 million reported in the prior year quarter. Net income attributable to Fox Corporation stockholders was $229 million ($0.52 per share) as compared to the $373 million ($0.81 per share) reported in the prior year quarter. Adjusted net income attributable to Fox Corporation stockholders1 was $360 million ($0.82 per share) as compared to the $442 million ($0.96 per share) reported in the prior year quarter.Quarterly Adjusted EBITDA2 was $692 million as compared to $781 million reported in the prior year quarter as the revenue increase noted above was more than offset by higher expenses. The increase in expenses was primarily due to higher sports programming rights amortization and production costs, and higher digital marketing costs, partially offset by lower entertainment programming rights amortization and production costs.Commenting on the results, Executive Chair and Chief Executive Officer Lachlan Murdoch said:"FOX delivered robust results in the second quarter of fiscal 2026 with broad based contributions from across our portfolio, including notable strength in advertising, where despite strong political advertising revenues a year ago, we still grew total company advertising revenue. These results represent a continuation of the operating and financial momentum that we have delivered over the last several years and are a product of both a highly differentiated strategy and high quality execution that reflect the power of our leadership brands across news, sports, streaming and entertainment."REVIEW OF OPERATING RESULTS
Three Months Ended
December 31,
Six Months Ended
December 31,
2025
2024
2025
2024
$ MillionsRevenues by Component:
Distribution3$ 2,002
$ 1,933
$ 3,917
$ 3,801Advertising2,455
2,422
3,867
3,751Content and other725
723
1,136
1,090Total revenues$ 5,182
$ 5,078
$ 8,920
$ 8,642
Segment Revenues:
Cable Network Programming$ 2,275
$ 2,165
$ 3,937
$ 3,762Television2,937
2,961
4,987
4,914Corporate and Other124
58
213
123Eliminations(154)
(106)
(217)
(157)Total revenues$ 5,182
$ 5,078
$ 8,920
$ 8,642
Adjusted EBITDA:
Cable Network Programming$ 687
$ 657
$ 1,487
$ 1,405Television143
205
542
577Corporate and Other(138)
(81)
(272)
(153)Adjusted EBITDA4$ 692
$ 781
$ 1,757
$ 1,829
Depreciation and amortization:
Cable Network Programming$ 27
$ 25
$ 53
$ 45Television30
30
60
59Corporate and Other43
42
85
84Total depreciation and amortization$ 100
$ 97
$ 198
$ 188 CABLE NETWORK PROGRAMMING
Three Months Ended
December 31,
Six Months Ended
December 31,
2025
2024
2025
2024
$ MillionsRevenues
Distribution$ 1,163
$ 1,109
$ 2,253
$ 2,171Advertising491
460
836
781Content and other621
596
848
810Total revenues2,275
2,165
3,937
3,762Operating expenses(1,426)
(1,354)
(2,129)
(2,056)Selling, general and administrative(162)
(158)
(321)
(309)Amortization of cable distribution investments—
4
—
8Segment EBITDA$ 687
$ 657
$ 1,487
$ 1,405Cable Network Programming reported quarterly segment revenues of $2.28 billion, an increase of $110 million or 5% from the amount reported in the prior year quarter. Distribution revenues increased $54 million or 5% as contractual price increases were partially offset by the impact of net subscriber declines. Advertising revenues increased $31 million or 7%, primarily due to higher news and sports pricing, partially offset by lower ratings. Content and other revenues increased $25 million or 4%, primarily due to higher sports sublicensing revenues.Cable Network Programming reported quarterly segment EBITDA of $687 million, an increase of $30 million or 5% from the amount reported in the prior year quarter, primarily due to the revenue increase noted above, partially offset by higher expenses. The increase in expenses was driven by higher sports programming rights amortization and production costs, partially offset by lower newsgathering costs.TELEVISION
Three Months Ended
December 31,
Six Months Ended
December 31,
2025
2024
2025
2024
$ MillionsRevenues
Advertising$ 1,964
$ 1,962
$ 3,031
$ 2,970Distribution831
824
1,652
1,630Content and other142
175
304
314Total revenues2,937
2,961
4,987
4,914Operating expenses(2,521)
(2,499)
(3,906)
(3,832)Selling, general and administrative(273)
(257)
(539)
(505)Segment EBITDA$ 143
$ 205
$ 542
$ 577Television reported quarterly segment revenues of $2.94 billion as compared to the $2.96 billion reported in the prior year quarter. Advertising revenues were essentially unchanged from the prior year quarter as continued digital growth led by the Tubi AVOD service, the impact of additional MLB postseason games, and higher sports pricing were offset by lower political advertising revenues and lower ratings. Distribution revenues increased $7 million or 1%, driven by higher average rates at the Company's owned and operated television stations and increases in fees from third-party FOX affiliates. Content and other revenues were $142 million as compared to the $175 million reported in the prior year quarter, primarily due to lower entertainment content and other revenues which were impacted by the timing of deliveries.Television reported quarterly segment EBITDA of $143 million as compared to the $205 million reported in the prior year quarter, primarily due to higher expenses. The increase in expenses was led by higher sports programming rights amortization and production costs and higher digital content costs, partially offset by lower entertainment programming rights amortization and production costs.DIVIDENDThe Company has declared a dividend of $0.28 per Class A and Class B share. This dividend is payable on March 25, 2026 with a record date for determining dividend entitlements of March 4, 2026.SHARE REPURCHASE PROGRAMAs of December 31, 2025, the Company has cumulatively repurchased approximately $6.6 billion of its Class A common stock and approximately $1.8 billion of its Class B common stock, with a remaining authorization of $3.6 billion. During the quarter, the Company repurchased approximately $750 million of its Class A common stock and $800 million of its Class B Common stock.CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTSThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates," "outlook" and similar expressions are used to identify these forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements in this press release due to changes in economic, business, competitive, technological, strategic and/or regulatory factors and other factors affecting the operation of the Company's businesses. More detailed information about these factors is contained in the documents the Company has filed with or furnished to the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.Statements in this press release speak only as of the date they were made, and the Company undertakes no duty to update or release any revisions to any forward-looking statement made in this press release or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events or to conform such statements to actual results or changes in the Company's expectations, except as required by law.To access a copy of this press release through the Internet, access Fox Corporation's corporate website located at http://www.foxcorporation.com.CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended
December 31,
Six Months Ended
December 31,
2025
2024
2025
2024
$ Millions, except per share amounts
Revenues$ 5,182
$ 5,078
$ 8,920
$ 8,642
Operating expenses(3,895)
(3,776)
(5,979)
(5,794)Selling, general and administrative(595)
(525)
(1,184)
(1,027)Depreciation and amortization(100)
(97)
(198)
(188)Restructuring, impairment and other corporate matters(14)
(170)
(6)
(196)Equity earnings of affiliates3
4
2
7Interest expense, net(98)
(80)
(148)
(130)Non-operating other, net(161)
81
(286)
314Income before income tax expense322
515
1,121
1,628Income tax expense(75)
(127)
(265)
(408)Net income247
388
856
1,220Less: Net income attributable to noncontrolling interests(18)
(15)
(28)
(20)Net income attributable to Fox Corporation stockholders$ 229
$ 373
$ 828
$ 1,200
Weighted average shares:441
462
448
463
Net income attributable to Fox Corporation stockholders
per share:$ 0.52
$ 0.81
$ 1.85
$ 2.59 CONSOLIDATED BALANCE SHEETS
December 31,
2025
June 30,
2025
$ MillionsAssets:
Current assets:
Cash and cash equivalents$ 2,017
$ 5,351Receivables, net3,557
2,472Inventories, net828
432Other324
174Total current assets6,726
8,429
Non-current assets:
Property, plant and equipment, net1,739
1,705Intangible assets, net2,951
2,969Goodwill3,638
3,639Deferred tax assets2,621
2,721Other non-current assets3,796
3,732Total assets$ 21,471
$ 23,195
Liabilities and Equity:
Current liabilities:
Accounts payable, accrued expenses and other current liabilities$ 2,416
$ 2,897Total current liabilities2,416
2,897
Non-current liabilities:
Borrowings6,604
6,602Other liabilities1,329
1,341Redeemable noncontrolling interests84
288Commitments and contingencies
Equity:
Class A common stock, $0.01 par value2
2Class B common stock, $0.01 par value2
2Additional paid-in capital7,264
7,603Retained earnings3,783
4,479Accumulated other comprehensive loss(123)
(124)Total Fox Corporation stockholders' equity10,928
11,962Noncontrolling interests110
105Total equity11,038
12,067Total liabilities and equity$ 21,471
$ 23,195 CONSOLIDATED STATEMENTS OF CASH FLOWS
Six Months Ended
December 31,
2025
2024
$ MillionsOPERATING ACTIVITIES:
Net income$ 856
$ 1,220Adjustments to reconcile net income to net cash used in operating activities
Depreciation and amortization198
188Restructuring, impairment and other corporate matters6
196Equity-based compensation60
68Equity earnings of affiliates(2)
(7)Cash distributions received from affiliates—
13Non-operating other, net286
(314)Deferred income taxes100
145Change in operating assets and liabilities, net of acquisitions and dispositions
Receivables and other assets(1,173)
(1,190)Inventories net of programming payable(937)
(431)Accounts payable and accrued expenses(92)
(75)Other changes, net(101)
(17)Net cash used in operating activities(799)
(204)
INVESTING ACTIVITIES:
Property, plant and equipment(226)
(138)Purchase of investments(143)
(79)Other investing activities, net(24)
(23)Net cash used in investing activities(393)
(240)
FINANCING ACTIVITIES:
Repurchase of shares(1,800)
(500)Dividends paid and distributions(147)
(134)Purchase of noncontrolling interest(208)
—Other financing activities, net13
81Net cash used in financing activities(2,142)
(553)
Net decrease in cash and cash equivalents(3,334)
(997)Cash and cash equivalents, beginning of year5,351
4,319Cash and cash equivalents, end of period$ 2,017
$ 3,322NOTE 1 – ADJUSTED NET INCOME AND ADJUSTED EPSThe Company uses net income attributable to Fox Corporation stockholders and earnings per share ("EPS") attributable to Fox Corporation stockholders excluding net income effects of Restructuring, impairment and other corporate matters, adjustments to Equity earnings (losses) of affiliates, Non-operating other, net, Tax provision and Noncontrolling interest adjustments ("Adjusted Net Income" and "Adjusted EPS" respectively) to evaluate the performance of the Company's operations exclusive of certain items that impact the comparability of results from period to period.Adjusted Net Income and Adjusted EPS may not be comparable to similarly titled measures reported by other companies. Adjusted Net Income and Adjusted EPS are not measures of performance under GAAP and should be considered in addition to, and not as substitutes for, net income attributable to Fox Corporation stockholders and EPS as reported in accordance with GAAP. However, management uses these measures in comparing the Company's historical performance and believes that they provide meaningful and comparable information to management, investors and equity analysts to assist in their analysis of the Company's performance relative to prior periods and the Company's competitors.The following table reconciles net income attributable to Fox Corporation stockholders and EPS attributable to Fox Corporation stockholders to Adjusted Net Income and Adjusted EPS for the three months ended December 31, 2025 and 2024:
Three Months Ended
December 31, 2025
December 31, 2024
Income
EPS
Income
EPS
$ Millions, except per share dataNet income attributable to Fox Corporation stockholders$ 229
$ 0.52
$ 373
$ 0.81
Restructuring, impairment and other corporate matters14
0.03
170
0.37
Non-operating other, net161
0.37
(81)
(0.18)
Tax provision(44)
(0.10)
(20)
(0.04)
As adjusted$ 360
$ 0.82
$ 442
$ 0.96
NOTE 2 – ADJUSTED EBITDAAdjusted EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Adjusted EBITDA does not include: Depreciation and amortization, Restructuring, impairment and other corporate matters, Equity earnings (losses) of affiliates, Interest expense, net, Non-operating other, net and Income tax expense. Effective July 1, 2025, the Company no longer removes the impact of amortization of cable distribution investments when calculating Adjusted EBITDA. Prior periods were not restated as the impact of the change is immaterial to the calculation.Management believes that information about Adjusted EBITDA assists all users of the Company's Unaudited Consolidated Financial Statements by allowing them to evaluate changes in the operating results of the Company's portfolio of businesses separate from non-operational factors that affect Net income, thus providing insight into both operations and the other factors that affect reported results. Adjusted EBITDA provides management, investors and equity analysts a measure to analyze the operating performance of the Company's business and its enterprise value against historical data and competitors' data, although historical results, including Adjusted EBITDA, may not be indicative of future results (as operating performance is highly contingent on many factors, including customer tastes and preferences).Adjusted EBITDA is considered a non-GAAP financial measure and should be considered in addition to, not as a substitute for, net income, cash flow and other measures of financial performance reported in accordance with GAAP. In addition, this measure does not reflect cash available to fund requirements and excludes items, such as depreciation and amortization and impairment charges, which are significant components in assessing the Company's financial performance. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.The following table reconciles net income to Adjusted EBITDA for the three and six months ended December 31, 2025 and 2024:
Three Months Ended
December 31,
Six Months Ended
December 31,
2025
2024
2025
2024
$ MillionsNet income$ 247
$ 388
$ 856
$ 1,220Add:
Amortization of cable distribution investments—
4
—
8Depreciation and amortization100
97
198
188Restructuring, impairment and other corporate matters14
170
6
196Equity earnings of affiliates(3)
(4)
(2)
(7)Interest expense, net98
80
148
130Non-operating other, net161
(81)
286
(314)Income tax expense75
127
265
408Adjusted EBITDA$ 692
$ 781
$ 1,757
$ 1,829 ________________________________________________________1Excludes net income effects of Restructuring, impairment and other corporate matters, adjustments to Equity earnings (losses) of affiliates, Non-operating other, net, Tax provision and Noncontrolling interest adjustments. See Note 1 for a description of adjusted net income attributable to Fox Corporation stockholders and adjusted earnings per share attributable to Fox Corporation stockholders, which are considered non-GAAP financial measures, and a reconciliation of reported net income attributable to Fox Corporation stockholders and earnings per share attributable to Fox Corporation stockholders to adjusted net income attributable to Fox Corporation stockholders and adjusted earnings per share attributable to Fox Corporation stockholders.2Adjusted EBITDA is considered a non-GAAP financial measure. See Note 2 for a description of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA.3The Company generates distribution revenue from agreements with MVPDs for cable network programming and retransmission fees for the broadcast of the Company's owned and operated television stations and from subscription fees for the Company's direct-to-consumer streaming services. In addition, the Company generates distribution revenue from agreements with independently owned television stations that are affiliated with the FOX Network. Prior period amounts have been reclassified to conform to the current presentation.4Adjusted EBITDA is considered a non-GAAP financial measure. See Note 2 for a description of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA.
View original content to download multimedia:https://www.prnewswire.com/news-releases/fox-reports-second-quarter-fiscal-2026-revenues-of-5-18-billion-net-income-of-247-million-and-adjusted-ebitda-of-692-million-302678935.htmlSOURCE Fox Corporation
Original: FOX REPORTS SECOND QUARTER FISCAL 2026 REVENUES OF $5.18 BILLION, NET INCOME OF $247 MILLION, AND ADJUSTED EBITDA OF $692 MILLION