If you’re wondering who owns Fox News, the answer traces back to one of the most influential media conglomerates in the world—Fox Corporation. Fox News, known for its significant impact on American media and politics, has a complex ownership structure shaped by the Murdoch family, who have played a pivotal role in its development and success.
Who Owns Fox News Today?
Today, Fox News is tied to Fox Corporation, a media company created after a significant corporate restructuring in 2019.
- Fox Corporation: Fox News is owned by Fox Corporation, which was formed after the Walt Disney Company acquired 21st Century Fox’s entertainment assets. The deal, valued at $71.3 billion, left behind a “new” Fox Corporation, focusing primarily on news, sports, and broadcast television. This newly-formed Fox Corporation retained ownership of Fox News, Fox Business, and the Fox Broadcasting Company.
- The Murdoch Family: The Murdoch family, led by Rupert Murdoch and his son Lachlan Murdoch, remains at the helm of Fox Corporation. Rupert Murdoch serves as the chairman of Fox Corporation, while Lachlan Murdoch holds the positions of executive chairman and CEO. The Murdochs’ influence on Fox News is substantial, guiding the network’s direction and maintaining its position as a dominant force in American media.
- Institutional investors own a little more than 54% of Fox shares, with 10 accounting for almost one-third of the outstanding total. They include:
- Vanguard Group: 14.2 million shares worth $461 million (6% of total)
- BlackRock (BLK 0.78%): 13.4 million shares worth $434.6 million (5.7%)
- Dodge & Cox: 11.3 million shares worth $368 million (4.8%)
- Yacktman Asset Management: 8.7 million shares worth $283.3 million (3.7%)
- State Street (STT 1.4%): 8.7 million shares worth $282.4 million (3.7%)
- State of Wisconsin Investment Board: 6.2 million shares worth $201 million (2.6%)
- Independent Franchise Partners: 4.4 million shares worth $142.3 million (1.9%)
- Geode Capital Management: 3 million shares worth $97.1 million (1.3%)
- American Century Companies: 2.8 million shares worth $91 million (1.2%)
- Norges Bank Investment Management: 2.6 million shares worth $82.8 million (1.1%)
The Origins of Fox News
Fox News was launched in October 1996 by media mogul Rupert Murdoch as part of his company, News Corporation. The network was established to compete with other cable news channels like CNN and MSNBC, offering a conservative perspective on news and current events. Under the leadership of Roger Ailes, Fox News quickly rose to prominence, becoming the most-watched cable news network in the United States by the early 2000s.
Fox News’s success was largely driven by its distinct programming, which combined traditional news coverage with opinion-driven shows. The network became a platform for conservative voices, shaping its identity and attracting a loyal viewership that continues to grow.
Fox News Under Fox Corporation
Understanding who owns Fox News also involves recognizing how the network operates within Fox Corporation.
- News and Opinion Programming: Fox News continues to be a significant asset for Fox Corporation, generating substantial revenue through advertising and subscription fees. The network is known for its blend of news reporting and opinion programming, with popular shows like “Hannity,” “Tucker Carlson Tonight,” and “The Five” attracting millions of viewers daily.
- Revenue Streams: Fox News contributes a significant portion of Fox Corporation’s overall revenue. The network benefits from high viewership ratings, leading to strong advertising sales. Additionally, Fox News generates revenue through carriage fees paid by cable providers to carry the channel, making it a lucrative asset for Fox Corporation.
The Impact of the Disney-Fox Deal on Fox News
The 2019 Disney-Fox deal was a major event in the media industry, reshaping the landscape and impacting Fox News.
- 21st Century Fox Sale: In March 2019, the Walt Disney Company completed its acquisition of 21st Century Fox’s entertainment assets, including film studios and television production. However, the deal excluded Fox News, Fox Business, and Fox Sports, which remained under the newly formed Fox Corporation.
- Fox Corporation’s Focus: With the entertainment assets sold, Fox Corporation sharpened its focus on news and sports, areas where it maintains significant market influence. Fox News, as the flagship news network, plays a central role in this strategy, continuing to deliver content that resonates with its core audience.
The Future of Fox News
Looking ahead, Fox News may remain the same, but the network will likely continue to evolve under the leadership of the Murdoch family and Fox Corporation.
- Continued Influence: Fox News is expected to maintain its position as a leading voice in conservative media. The network’s ability to adapt to changing media consumption habits, such as the rise of digital streaming and social media, will be crucial in maintaining its relevance and viewership.
- Leadership Transition: As Rupert Murdoch ages, the future leadership of Fox Corporation may shift more firmly into the hands of Lachlan Murdoch. How this transition unfolds will be key to Fox News’s future direction, particularly in balancing traditional television with new media formats.
- Digital Expansion: Fox News is increasingly investing in digital platforms, such as the streaming service Fox Nation, to reach younger audiences and expand its footprint in the digital space. This digital push is part of a broader strategy to ensure Fox News remains competitive in a rapidly changing media environment.
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