Company: FOX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024466
Chunk: 90

Company: Fox Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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 primarily due to higher sports programming rights amortization and production costs driven by higher college football costs, including licensing costs for rights that are sublicensed, partially offset by the absence of the Fédération International de Football Association Women’s World Cup in the current year. Also contributing to this increase was higher newsgathering costs primarily due to the 2024 presidential election. Selling, general and administrative expenses increased $18 million or 4% primarily due to higher employee costs.

Television (59% and 58% of the Company’s revenues for the first nine months of fiscal 2025 and 2024, respectively)

 For the three months ended March 31,For the nine months ended March 31, 20252024Change% Change20252024Change% Change(in millions, except %)Better/(Worse)Better/(Worse)RevenuesAdvertising$1,664 $939 $725 77 %$4,634 $3,503 $1,131 32 %Affiliate fee870 834 36 4 %2,500 2,325 175 8 %Other170 165 5 3 %484 432 52 12 %Total revenues2,704 1,938 766 40 %7,618 6,260 1,358 22 %Operating expenses(2,359)(1,540)(819)(53)%(6,191)(5,178)(1,013)(20)%Selling, general and administrative(285)(253)(32)(13)%(790)(724)(66)(9)%Segment EBITDA$60 $145 $(85)(59)%$637 $358 $279 78 %

For the three months ended March 31, 2025 and 2024

Revenues at the Television segment increased $766 million or 40% for the three months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, due to higher advertising, affiliate fee and other revenues. The increase of $725 million or 77% in advertising revenue was primarily due to revenues from the 

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broadcast of Super Bowl LIX in February 2025 and continued digital growth led by the Tubi AVOD service. The increase of $36 million or 4% in affiliate fee revenue was primarily due to higher average rates per subscriber partially offset by a lower average number of subscribers at the Company