Company: FOX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024466
Chunk: 39

Company: Fox Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 of $52 million or 12% in other revenues was primarily due to higher content revenue.

Television Segment EBITDA increased $279 million or 78% for the nine months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, due to the revenue increases noted above, partially offset by higher expenses. Operating expenses increased $1 billion or 20% primarily due to higher sports programming rights amortization and production costs driven by the broadcast of Super Bowl LIX in February 2025 and higher NFL costs and higher digital content and marketing costs partially offset by the absence of WWE. Selling, general and administrative expenses increased $66 million or 9% primarily due to higher employee costs.

Corporate and Other

 For the three months ended March 31,For the nine months ended March 31, 20252024Change% Change20252024Change% Change(in millions, except %)  Better/(Worse)Better/(Worse)Revenues$58 $53 $5 9 %$181 $156 $25 16 %Operating expenses(19)(13)(6)(46)%(55)(43)(12)(28)%Selling, general and administrative(121)(113)(8)(7)%(361)(351)(10)(3)%Segment EBITDA$(82)$(73)$(9)(12)%$(235)$(238)$3 1 %

For the three and nine months ended March 31, 2025 and 2024

Revenues within Corporate and Other for the three and nine months ended March 31, 2025 and 2024 include revenues generated by Credible and the operation of the FOX Studio Lot. Operating expenses for the three and nine months ended March 31, 2025 and 2024 include advertising and promotional expenses at Credible. Selling, general and administrative expenses for the three and nine months ended March 31, 2025 and 2024 primarily relate to employee costs, professional fees and the costs of operating the FOX Studio Lot.

Non-GAAP Financial Measures

Adjusted EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Adjusted EBITDA does not include: Amortization of cable distribution investments, 

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Depreciation and amortization, Restructuring, impairment and other corporate matters, Interest expense, net, Non-operating other, net and Income tax expense.

Management believes that information