Latest news with #LachlanMurdoch
Yahoo
20 hours ago
- Business
- Yahoo
FOXA Q1 Earnings Call: Digital Investments, Super Bowl, and Direct-to-Consumer Strategy Highlight Quarter
Cable news and media network Fox (NASDAQ:FOXA) missed Wall Street's revenue expectations in Q1 CY2025, but sales rose 26.8% year on year to $4.37 billion. Its non-GAAP EPS of $1.10 per share was 22.6% above analysts' consensus estimates. Is now the time to buy FOXA? Find out in our full research report (it's free). Revenue: $4.37 billion (26.8% year-on-year growth) Adjusted EPS: $1.10 vs analyst estimates of $0.90 (22.6% beat) Adjusted Operating Income: $761 million vs analyst estimates of $639.7 million (17.4% margin, 19% beat) Operating Margin: 17.4%, down from 22.9% in the same quarter last year Market Capitalization: $23.78 billion Fox's first quarter performance was shaped by the high-profile broadcast of Super Bowl LIX, which CEO Lachlan Murdoch described as generating over $800 million in gross advertising revenue and becoming the most-watched telecast in U.S. history. Management credited strong advertising demand, especially from a surge in new brand advertisers at Fox News and rapidly rising digital engagement, for driving revenue. Tubi, Fox's free ad-supported streaming service, delivered a 35% year-over-year revenue increase and continued to see growth in total viewing time, supported by its appeal to a younger and increasingly mainstream audience. Affiliate revenues also grew, as higher rates and moderating subscriber declines contributed to segment growth. Executives highlighted that these results translated into record free cash flow for the company. Looking ahead, Fox's management emphasized the upcoming launch of Fox One, its direct-to-consumer streaming platform, targeting households without traditional cable subscriptions. Lachlan Murdoch stated that Fox One will be priced in line with wholesale rates and is expected to debut before the football season, with distribution partnerships in development. Management also pointed to continued momentum at Tubi and Fox News as key growth drivers, while balancing ongoing digital investments and controlling costs, especially as political advertising and marquee sports events fluctuate year-to-year. CFO Steve Tomsic noted that the company will remain disciplined in capital allocation, weighing further investment in digital platforms against other shareholder returns. The company sees opportunities to expand its digital reach while maintaining support for traditional distribution models. Management attributed the quarter's performance to major live events, digital growth, and a focused content strategy, while highlighting execution on both traditional and streaming platforms. Super Bowl Advertising Impact: The broadcast of Super Bowl LIX delivered significant advertising revenue and set a new U.S. television viewership record, benefiting both national and local TV stations. This event also served as a promotional lever for other Fox properties, including Tubi. Tubi's Audience and Revenue Growth: Tubi's revenue grew 35% year-over-year, aided by a notable increase in total viewing time and a successful Super Bowl cross-promotion. Management highlighted that Tubi's audience skews younger and more diverse, with 65% classified as 'cord nevers'—viewers who have never subscribed to traditional pay TV. Fox News Advertiser Expansion: Fox News continued to grow its advertiser base, with over 200 new brands joining since the election. Management described this as a durable trend rather than a temporary shift, with both direct response and brand advertising rates increasing substantially. Affiliate Revenue Stability: Affiliate fee revenues increased as higher negotiated rates offset the impact of ongoing, but decelerating, subscriber declines. Management referenced improvements in subscriber erosion each quarter, attributing this trend partially to the emergence of 'skinny bundles'—streaming packages with fewer channels. Digital Engagement and Investment: Digital consumption at Fox News and Tubi broke new records, with Fox News Digital growing page views 18%. Management reiterated their commitment to continued digital investment, especially in Tubi and the soon-to-launch Fox One, to reach new viewers and advertisers across platforms. Fox expects continued digital momentum, expanding direct-to-consumer offerings, and advertiser demand to shape revenue and margin trends in upcoming quarters. Direct-to-Consumer Launch: The introduction of Fox One aims to capture the growing cordless market, with management focusing on pricing discipline and partnerships to avoid cannibalizing existing cable subscriptions. This strategy is expected to broaden Fox's digital reach while supporting traditional affiliate relationships. Tubi's Profitability Path: Management plans ongoing investment in Tubi, citing its strong user engagement and advertising appeal. While profitability is a goal, executives indicated that further investment will be paced to maximize long-term value as Tubi approaches scale. Shifting Content Costs and Cyclical Events: Management noted that shifts in the sports calendar, such as the absence of Super Bowl costs and changing political advertising cycles, will impact margin trends. Adjustments to digital investment, particularly between Tubi and Fox One, are expected to be key margin drivers in the next year. In the coming quarters, the StockStory team will watch (1) the launch and early adoption of Fox One and its impact on subscriber and advertiser growth, (2) Tubi's ability to sustain user engagement and move toward profitability as investment moderates, and (3) the extent to which Fox News can maintain its enlarged advertiser base and ratings momentum. The evolution of affiliate fee trends and further digital monetization initiatives will also be pivotal. FOX currently trades at a forward P/E ratio of 13.9×. In the wake of earnings, is it a buy or sell? The answer lies in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Daily Mail
3 days ago
- Entertainment
- Daily Mail
Lachlan Murdoch's wife Sarah makes a surprise appearance at socialite's 40th birthday party in Sydney
made a rare public appearance as she celebrated Tamie Ingham's 40th birthday in Sydney over the weekend. The glamorous wife of media mogul Lachlan Murdoch was all smiles as she mingled with Eastern Suburb's socialites at the event. The British-Australian model put on a stylish display in a dark top with a matching coloured pleated skirt. She was also seen cutting a cake at the event as her friends took time to sing her happy birthday after she celebrated turning 53 on Saturday. Sarah left her curled blonde locks out as she cut her cake while standing alongside birthday girl Tamie. From A-list scandals and red carpet mishaps to exclusive pictures and viral moments, subscribe to the . Tamie, who is married to celebrity chef Guillaume Brahimi, dressed to impress in a light blue dress which had a clinched in design at the front. The Ingham chicken heiress styled her brunette locks in loose waves and let her beauty shine with a neutral makeup palette. Several of her celebrity friends including Jasmine Stefanovic, Caroline Tran and Michael Lo Sordo were in attendance. Meanwhile, Sarah has been happily married to her husband Lachlan for 26 years after tying the knot in 1999. They are parents to sons Kalan Alexander, 18, and Aidan Patrick, 17, and daughter Aerin Elisabeth, 13. The couple own a home in Bellevue Hill, Sydney, known as Le Manoir. Sarah and Lachlan were spotted packing on the PDA in February last year as they watched the SailGP championships in Sydney. While watching the race, Rupert Murdoch's son and News Corp chairman Lachlan, leaned in and gave his wife a kiss. After sharing the intimate moment, the pair were seen sitting and chatting with friends. At one point, Lachlan was seen leaning on the edge of the balcony and puffing on a giant cigar. Just days prior, the couple had attended the opening of Sydney's first LGBTQIA+ museum, Qtopia.
AU Financial Review
18-05-2025
- Business
- AU Financial Review
Lachlan Murdoch's Nova under scrutiny for not lodging accounts
Lachlan Murdoch's radio business, Nova Entertainment, has admitted it breached the law by failing to lodge dozens of documents with the corporate regulator, as an audit by the Australian Taxation Office reaches its second year. The billionaire media mogul, who is chair of News Corporation and executive chairman of Fox Corporation, which runs the conservative US television network Fox News, has owned Nova for more than a decade. He has benefited immensely from the private Australian media company, which owns the Nova and SmoothFM radio brands.
Business Insider
13-05-2025
- Business
- Business Insider
FOX announces the name of its new streaming service
Just a few months after plans for the Venu Sports super-streamer were officially put to rest, FOX is forging ahead with a new stand-alone streaming service. On May 12, Fox Corporation announced the name, intended launch season, and a few other details for the brand-new streaming service, which was originally announced back in February. The new direct-to-consumer streaming service will be called FOX One and bring together content from FOX's News, Sports, and Entertainment properties. According to the official announcement, the service will offer "live streaming and on-demand access to the full portfolio of FOX brands." This includes FOX News, FOX Business, FOX Weather, FOX Sports, FS1, FS2, BTN (Big Ten Network), FOX Deportes, and local FOX Stations. The streamer will also give users the ability to bundle FOX Nation, FOX's preexisting FOX News streaming service, under one platform. No prices or details on plans have been announced yet. However, when first discussing the streaming service in an earnings call earlier this year, Lachlan Murdoch said, "Our subscriber expectation will be modest, and we're going to price the service accordingly," per Business Insider's initial report. NBC's Peacock and CBS's Paramount Plus are two relatively comparable services. Both streamers offer plans for as cheap as $7.99 a month, but users need to upgrade for $12.99 a month on Paramount Plus and $13.99 a month on Peacock to unlock CBS and NBC live streaming, respectively. These higher tiers also include other perks, such as ad-free on-demand streaming, downloading, and premium content. Although ABC doesn't have a stand-alone 1:1 streamer like NBC and CBS, the network often puts notable live programs on its Hulu, Disney Plus, and ESPN Plus streaming services, making FOX the only one of the Big Four networks without a streaming counterpart — until now. FOX's foray into streaming comes after plans for Venu Sports fell apart earlier in the year. The sports streaming service intended to combine sports content from Fox, Disney, and Warner Bros. properties under one service, which was targeted to launch last fall ahead of the 2024-2025 NFL season. However, plans were halted due to a lawsuit from Fubo. Although Fubo and the Disney-owned Hulu + Live TV announced in early 2025 plans to merge, putting an end to Venu Sports litigation, the companies behind the service decided to forgo moving forward with Venu. Instead, ESPN is launching its own standalone streaming service for $30 a month, and Warner Bros. has doubled down on its B/R Sports live streaming add-on by including it indefinitely at no extra cost on all ad-free Max plans. Now, FOX One is on track to debut in the fall before the NFL and college football seasons, launching in time for two of FOX's biggest sports offerings each year. This will also coincide with the start of the 2025-2026 network TV season. Until then, there are still a few ways to live stream FOX without cable. The network is available through live TV streaming channel packages, including DirecTV, Fubo, and Sling TV Blue (in select regions). These are three of the best sports streaming services we've tested. For a full breakdown of these month-to-month services, you can check out our how to watch FOX streaming guide.
Miami Herald
13-05-2025
- Business
- Miami Herald
Fox unveils new product for the cordless community
The NFL has never been more popular than it is right now. Interest in the game has expanded past the product on the field as, thanks to social media, athletes have become bigger celebrities in their own right. Don't miss the move: Subscribe to TheStreet's free daily newsletter Ancillary events like the NFL draft have become must-see television. This year, nearly 14 million people tuned into the opening night of the NFL draft. For comparison, a recent NBA Playoffs game between the Golden State Warriors and Minnesota Timberwolves averaged 4.96 million viewers. Related: Comcast spends big bucks to bring back an NBA legend While Netflix has emerged as the early winner of the streaming wars, legacy media companies have begun to fight back. Disney (DIS) launched Disney+ years ago, but relative newcomers like Paramount+ from CBS Viacom (PARA) and Peacock from Comcast NBCUniversal (CMCSA) show that broadcasters are not ready to concede U.S. eyeballs to Netflix. During its earnings call this week, Comcast admitted that sports are the key to unlocking Peacock's future. NBC pays the NFL $2 billion annually for the right to broadcast games. It pays the Premier League another $450 million annually and billions more for the rights to the Olympics every two years. Fox (FOXA) , the last of the four major broadcast networks, is launching its own streaming product this fall, and like its rivals, the company will rely heavily on sports to drive subs. Image source: Brown/Icon Sportswire via Getty Images This week Fox Corp. let the investment community know its streaming plans when it revealed that Fox One will debut in the fall ahead of the start of the NFL season in September. Fox One will include programming from Fox News, Fox Sports, and other programming from what is left of Fox's broadcast business. The company did not say how much the service will cost, but it did emphasize that the service will not be designed to cannibalize Fox News, which is by far cable's most-watched news network. Related: Fox News gets huge 'bump' from a wave of surprising viewers "We do not want to lose a traditional cable subscriber to Fox One," said CEO Lachlan Murdoch. Instead, Fox One will be aimed at the "cordless community" that has eschewed buying a cable package. Fox will look to form partnerships to bundle Fox One with other streamers. Fox reported a third quarter profit of $346 million, or 75 cents per share, a steep decline from the $666 million, or $1.40 per share, the company made a year ago. On an adjusted basis, Fox made $1.10 per share in the quarter. Much of that decline in profit was due to higher expenses as revenue rose 27% in the quarter to $4.37 billion. Analysts were expecting earnings of 92 cents per share on revenue of $4.19 billion. Much of the gains were driven by its cable news division - Fox News, Fox Business, and Fox Sports 1. But the reason for the dip in profit was that Fox hosted the Super Bowl this year. Fox saw its operating costs jump 45% in the first quarter thanks to the big game. And while Fox was able to charge as much as $8 million for a 30-second ad during the game, there are still major costs to putting on the show, on top of the $2.2 billion Fox pays the NFL annually for the games. Fox was able to generate a record $800 million in ad revenue for Super Bowl LIX. Fox also reported higher expenses for digital content and marketing. Overhead expenses jumped 8% in the quarter. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
