Fox Corporation Executives to Discuss Second Quarter Fiscal 2021 Financial Results Via Webcast
Tuesday, 12 January 2021, 18:00:00
NEW YORK and LOS ANGELES, Jan. 12, 2021 /PRNewswire/ — Fox Corporation (Nasdaq: FOXA, FOX) will discuss second quarter fiscal 2021 financial results via a live audio webcast beginning at 8:30 a.m. ET / 5:30 a.m. PT on Tuesday, February 9, 2020. Results will be released at approximately…
— PR Newswire
Rupert Murdoch, 89, receives Covid vaccine as Fox News hosts are sceptical about jabs
Saturday, 19 December 2020, 13:26:57
The billionaire, who is chairman of the channel's Fox Corp and also owns News Corp, was whisked to a dedicated vaccine centre in Henley, Oxfordshire earlier this week.
— Daily Mail Online
Fox exec says Tubi's revenues are expected to surpass those of its broadcast networks as ad-supported streaming takes off
Tuesday, 15 December 2020, 15:53:42
Summary List Placement Fox Corporation CFO Steve Tomsic said last week that the company expects the revenues of its ad-supported streaming service Tubi to surpass those of its broadcast networks in the next two to three years, per MediaPost . Fox acquired Tubi for only $440 million in March 2020 and has since invested rapidly in expanding Tubi's programming lineup with popular titles like ” The Masked Singer ,” as well as livestreaming 17 Fox stations . The company will likely continue increasing the share of its programming available on Tubi in the future. In 2020, Tubi and other free, ad-supported streaming services have made significant gains among both consumers and advertisers. Stay-at-home orders and an economic recession have made free streaming services particularly appealing to those with limited budgets. As of September 2020 , Tubi reported 33 million active users, a 65% increase year over year (YoY). And while Fox Corporation does not yet break out Tubi revenues in its earnings, other firms have noted that free, ad-supported streaming services, including Tubi, have made significant ad revenue gains this year.
— Business Insider
KeyBanc Bullish On Disney Among Media Stocks, Says Streaming ‘Fundamentally Worse Business' Than Pay TV
Wednesday, 9 December 2020, 18:10:48
The 2020 pandemic has facilitated what many investors see as a secular decline in traditional media and a rise in streaming video services. On Wednesday, KeyBanc initiated coverage of four large-cap media companies at the epicenter of this transition. The Analyst: Brandon Nispel initiated coverage of the following four stocks: Walt Disney Co (NYSE: DIS ), Overweight rating, $177 price target. Discovery Communications Inc. (NASDAQ: DISCA ), Sector Weight rating, $31 price target. Fox Corp (NASDAQ: FOXA ), Sector Weight rating, $29 target. CBS Corporation (NASDAQ: VIAC ), Underweight rating, $30 target. The Thesis: Investors should anticipate more downside risk to earnings and revenue numbers for these four companies than upside, and valuation multiples will likely be limited, Nispel said in the initiation note. In the near-term, the analyst said expectations are extremely low, and advertising trends will likely improve along with the … Full story available on Benzinga.com
Flutter Buys Larger FanDuel Stake, Takes DraftKings Head On In US
Thursday, 3 December 2020, 22:44:31
Flutter Entertainment (Pink: PDYPY ) is making a big bet on the growth of the U.S. sports betting market. What Happened: On Thursday, Flutter announced it's increasing its ownership in FanDuel from 57.8% to 95%. The purchase by Flutter comes from Fastball Holdings, which will now own 7% of Flutter Entertainment. Flutter is paying $4.2 billion for the stake, with $2.1 billion coming from cash and the rest in the form of newly issued Flutter Entertainment shares. Boyd Gaming (NYSE: BYD ) will retain its 5% stake in FanDuel. Fox Corporation (NASDAQ: FOX ) is a key to the deal as they will own a stake in Flutter and will help Flutter with funding for the deal. Fox will also have the option to purchase an 18.5% stake in FanDuel at fair market value in July 2021. Why It’s Important: The press release from Flutter calls the U.S. sports … Full story available on Benzinga.com
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