Fox Corporation

This article is about the television broadcasting company. For the company prior to the spin off and acquisition by The Walt Disney Company, see 21st Century Fox.

## Fox Corporation

Headquarters at 1211 Avenue of the Americas

### **Traded as**

NASDAQ: FOXA, FOX
NASDAQ-100 components
S&P 500 components

### **ISIN**

US35137L1052
US35137L2043

### **Founded**

02019-01-01-0000January 1, 2019; 23 months ago

### **Headquarters**

1211 Avenue of the Americas, New York City, New York, United States

### **Key people**

Lachlan Murdoch (Executive chairman, CEO)
Rupert Murdoch (Chairman)
John Nallen (COO)

### **Divisions**

Fox Entertainment
Fox Television Stations
Fox News Media
Fox Sports Media Group

### **Subsidiaries**

Fox Broadcasting Company
Credible Labs
Tubi
Lincolnwood Drive

### **Website**

www.foxcorporation.com

**Fox Corporation** (abbreviated **Fox Corp.**, called **Fox**) is an American mass media company headquartered in Midtown Manhattan, New York City. The Murdoch family formed the company in 2019 due to the acquisition of 21st Century Fox by The Walt Disney Company; the assets that were not acquired by Disney were spun off from 21st Century Fox as the new Fox Corp stock began trading on January 1, 2019. Fox Corporation's headquarters are in Delaware.

The Murdoch family owns it via a family trust with 39% interest; Rupert Murdoch is chairman, while his son Lachlan Murdoch is executive chairman and CEO. Fox Corp. deals primarily in the television broadcast, news, and sports broadcasting industries. They include the Fox Broadcasting Company, Fox Television Stations, Fox News, Fox Business, the national operations of Fox Sports, and others. Under Murdoch's control, its sister company, the present-day News Corp, holds his print interests and other media assets.

## History

The company name traces back through a series of mergers and demergers to the Fox Film Corporation founded by William Fox on February 1, 1915.

### Formation

On December 14, 2017, The Walt Disney Company announced its intent to acquire the motion picture, cable entertainment, and direct broadcast satellite divisions of 21st Century Fox. The remainder of the company would form a so-called "New Fox," maintaining control of assets such as Fox's television network and broadcast stations, Fox News, the national operations of Fox Sports, and the 20th Century Fox studio lot, which Disney leased for seven years. Fox's regional sports networks were initially included in the sale to Disney. In May 2018, Fox confirmed that Lachlan Murdoch, rather than James Murdoch, would take charge of the New Fox company.

The merger faced antitrust scrutiny; Disney would not legally own both the ABC and Fox networks due to an FCC policy known as the "dual network rule," which prohibits mergers between the top broadcast networks. The Department of Justice also ordered that Fox's regional sports networks be divested by Disney within 90 days of closing. Disney owns 80% of ESPN, and the Justice Department felt that the Fox regional networks' combination with ESPN would make Disney too dominant in the cable sports market.

In mid-2018, NBCUniversal's parent company Comcast instigated bidding wars over both the Fox assets Disney planned to purchase and the British broadcaster Sky plc (a 21st Century Fox company held a stake in and was planning to acquire the remainder). In July 2018, Fox agreed to increase Disney's offer to $71.3 billion to fend off Comcast's counter-bid. British regulators held a blind auction for Sky's assets, which Comcast won.

On October 10, 2018, Fox reported that in preparation for the sale's impending completion, the new, post-merger organizational structure of "New Fox" would be implemented by January 1, 2019. On November 14, 2018, they revealed that the newly independent company would maintain the original Fox name. On January 7, 2019, the U.S. Securities and Exchange Commission filed Fox Corporation's registration statement.

On January 11, 2019, Fox stated in a securities filing that it had no plans to bid on its former regional sports networks. Instead, they would go to a consortium led by Sinclair Broadcast Group, with Fox Corporation continuing to license the FSN name to those stations until Sinclair can develop a new brand. On March 12, 2019, Disney announced that the sale would be completed by March 20, 2019. On March 19, 2019, Fox Corporation officially began trading on the S&P 500, replacing 21st Century Fox on the index. Republican politician and former Speaker of the House Paul Ryan also joined Fox Corporation's board.

### Beginning of operations

Fox Corporation began operating separately on March 18, 2019. Chairman and CEO Lachlan Murdoch led a town hall meeting three days later, indicating that Fox would issue stock to the corporation's employees based on longevity.

In May 2019, Fox Corporation acquired a 4.99% stake in Canadian online gambling operator The Stars Group for $236 million via the Fox Sports division. As a result, they also announced that the companies would co-develop sports betting products for the U.S. market under Fox Bet branding.

In early July 2019, Fox Entertainment announced the formation of SideCar, with executives led by Gail Berman. SideCar is a content development unit for Fox and other outlets.

In August 2019, Fox Corporation announced it would acquire Credible Labs for $397 million and animation studio Bento Box Entertainment for $50 million.

In April 2020, Fox acquired streaming service Tubi for $440 million.

## Corporate governance

### Board of directors

* Rupert Murdoch (Chairman)
* Lachlan Murdoch (Executive Chairman)
* Chase Carey
* Anne Dias
* Roland A. Hernandez
* Jacques Nasser
* Paul Ryan

### Executive management

* **Lachlan Murdoch (Executive Chairman and Chief Executive Officer)**
	+ John Nallen (Chief Operating Officer)
	+ Viet D. Dinh (Chief Legal and Policy Officer)
	+ Steve Tomsic (Chief Financial Officer)
	+ Jack Abernethy (Chief Executive Officer, Fox Television Stations)
	+ Michael Biard (President of Operations and Distribution)
	+ Paul Cheesbrough (Chief Technology Officer and President of Digital)
	+ Charlie Collier (Chief Executive Officer, Fox Entertainment)
		- Amy Carney, Chief Operating Officer
		- Michael Thorn, President of Entertainment
		- Rob Wade, President, Alternative Entertainment and Specials
	+ Joe Dorrego (Chief Investor Relations Officer and EVP of Corporate Initiatives)
	+ Marianne Gambelli (President of Advertising Sales)
	+ Kevin Lord (Executive Vice President of Human Resources)
	+ Danny O'Brien (Executive Vice President and Head of Government Relations)
	+ Suzanne Scott (Chief Executive Officer, Fox News Media)
	+ Eric Shanks (Chief Executive Officer and Executive Producer, Fox Sports)
	+ Jeff A. Taylor (Executive Vice President and Chief Litigation Counsel)
	+ Claudia Teran (Executive Vice President and Corporate General Counsel)

## Assets

* Fox Broadcasting Company
	+ Fox Entertainment
		- Bento Box Entertainment
		- Fox Alternative Entertainment
		- Sidecar
		- XOF Productions
	+ Fox Now
* Fox Television Stations
	+ 28 stations
	+ MyNetworkTV
	+ Movies! (50%)
	+ Fox Soul
	+ Fox First Run
* Fox News Media
	+ Fox News Channel
	+ Fox Business
	+ Fox News Radio
	+ Fox News Talk
	+ Fox Nation
* Fox Sports Media Group
	+ FS1
	+ FS2
	+ Fox Deportes
	+ Big Ten Network (51%)
	+ Fox Soccer Plus
	+ Fox Sports Racing
	+ Fox Sports Radio (brand licensing agreement with iHeartMedia/Premiere Networks)
	+ Fox Sports Digital Media
		- FoxSports.com
	+ The Stars Group (4.99%)
* Credible Labs (67%)
* Tubi