Company: FOX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001628280-25-047354
Chunk: 25

Company: Fox Corp
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 Segment EBITDA. Prior periods were not restated as the impact of the change is immaterial to the calculation. Management believes that Segment EBITDA is an appropriate measure for evaluating the operating performance of the Company’s operating segments because it is the primary measure used by the Company’s chief operating decision maker, the Chief Executive Officer, to monitor actual versus budget and prior fiscal year financial results, forecast future periods and perform competitive analyses to evaluate performance and allocate resources.We use the term "MVPDs" to refer collectively to traditional MVPDs and virtual MVPDs.

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FOX CORPORATIONNOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The tables below present summarized financial information for each of the Company’s reportable segments and Corporate and Other. For the three months ended September 30, 20252024 (in millions) Revenues  Cable Network Programming$1,662 $1,597 Television2,050 1,953 Corporate and Other89 65 Eliminations(63)(51)Total revenues$3,738 $3,564 Segment EBITDACable Network Programming$800 $748 Television399 372 Corporate and Other(134)(72)Amortization of cable distribution investments— (4)Depreciation and amortization(98)(91)Restructuring, impairment and other corporate matters8 (26)Equity (losses) earnings of affiliates(1)3 Interest expense, net(50)(50)Non-operating other, net(125)233 Income before income tax expense799 1,113 Income tax expense(190)(281)Net income609 832 Less: Net income attributable to noncontrolling interests(10)(5)Net income attributable to Fox Corporation stockholders$599 $827 For the three months ended September 30,20252024(in millions)Reconciliation of Revenues to Segment EBITDACable Network ProgrammingRevenues$1,662 $1,597 Operating expenses(703)(702)Selling, general and administrative(159)(151)Amortization of cable distribution investments— 4 Segment EBITDA$800 $748 TelevisionRevenues$2,050 $1,953 Operating expenses(1,385)(1,333)Selling, general and administrative(266)(248)Segment EBITDA$399 $372 

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FOX CORPORATIONNOTES TO THE