32.64 0.00 (0.00%)
After hours: 5:06PM EDT
|Bid||32.64 x 1300|
|Ask||32.65 x 2200|
|Day's Range||32.13 - 32.96|
|52 Week Range||31.58 - 41.95|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||12.71|
|Earnings Date||Nov 5, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||0.46 (1.37%)|
|1y Target Est||40.71|
FOX News Media has re-signed Anchor and Global Markets Editor Maria Bartiromo to a new multiyear deal, extending her tenure with FOX Business Network and FOX News Channel , announced Suzanne Scott, CEO of FOX News Media.
For 60 Consecutive Months, FOX News Remains the Number One Most-Engaged News Brand on Social Channels
Nexstar Media Group, Inc. (NXST) (“Nexstar”) and Fox Broadcasting Company LLC, a subsidiary of Fox Corporation (Nasdaq: FOXA, FOX) (“FOX”), today announced a multi-year agreement that renews FOX network affiliations for stations that Nexstar owns, operates, programs or provides services to, in 31 markets that reach approximately 8% of the U.S. In addition, the new agreement will also cover the eight FOX affiliates that Nexstar is acquiring from Tribune Media Company (“Tribune”), upon closing of the acquisition.
A federal appeals court on Friday revived a lawsuit against Fox News Network over its reporting on Seth Rich, a former Democratic National Committee employee whose unsolved murder sparked uncorroborated right-wing conspiracy theories. The 2nd U.S. Circuit Court of Appeals in Manhattan said Rich's parents, Joel and Mary Rich, could sue Fox News for causing emotional distress by publishing a May 16, 2017, article claiming their son had leaked DNC emails to WikiLeaks, implying that the leaks were related to his death. Fox News, a unit of Fox Corp, retracted the article a week later, saying it fell short of its standards, but some leading conservatives and on-air guests discussed it for months.
Lauren Petterson has been named President of FOX Business Network (FBN), announced Suzanne Scott, CEO of FOX News Media. In a related move, Brian Jones, who currently holds this position, will depart. Ms. Petterson will begin her new role today and will also continue overseeing Talent Development at FOX News Channel (FNC).
(Bloomberg Opinion) -- Please, AT&T, no more giant mergers and acquisitions. Wall Street is begging you.That was one of the main messages in a letter Monday morning to AT&T Inc.’s board from Jesse Cohn, the head of U.S. activist investing at Elliott Management Corp. who is pressuring the communications and media conglomerate to get its act together. AT&T’s share price and reputation have been dragged down by troubles stemming from its ill-advised takeover of DirecTV in 2015 and its subsequent megadeal last year for Time Warner, which has yet to bear fruit. AT&T’s core wireless business continues to perform well, but it’s being overshadowed by CEO Randall Stephenson’s perplexing decision to expand into areas beyond his and the company’s expertise. And it’s making this push at a time when others from Rupert Murdoch’s Fox Corp. to Verizon Communications Inc. are looking to exit media and pay-TV assets or otherwise streamline their businesses. Elliott disclosed that it owns $3.2 billion of AT&T stock and wants the company to consider a number of changes. They include ridding itself of distractions such as the DirecTV unit and wireless operations in Mexico; eliminating wasteful spending; empowering the board to hold Stephenson’s team more accountable; and avoiding any more big M&A. This way, AT&T can sharpen its focus on 5G, the next generation of wireless networks – in which it has a chance to outshine Verizon – and come up with a clearer strategy for streaming-TV products, where it faces fierce competition from Netflix Inc., Walt Disney Co. and others. As of now, AT&T offers all of the following video services, and I wouldn’t be surprised if its own managers failed a pop quiz on which one does what:Cohn’s letter, co-signed by Marc Steinberg, an associate portfolio manager at Elliott, is a reiteration of the columns I’ve written during the past two years, so I agree with many of their points. Activist shareholders are often guilty of stating the obvious and making overly broad recommendations for things a company should already be doing anyway. But this is a case where AT&T has started to look unwieldy and is moving too slowly to address that. It’s time an investor spoke up.To Stephenson’s credit, he has been making headway in paying down debt this year, by raising prices for DirecTV’s satellite and streaming packages and selling off WarnerMedia’s (formerly Time Warner) Hudson Yards office space in New York and its stake in Hulu. Still, AT&T was saddled with $186 billion of debt, net of cash, as of June. That’s more than fellow media giants Disney and Comcast Corp. owe combined. After AT&T’s share price popped almost 5% on Monday morning, the company acknowledged the letter and said Stephenson and his team “look forward to engaging with Elliott.” It’s always my favorite choice of words by companies suddenly targeted by an activist investor, because you know the last thing they are thinking is that they’re looking forward to dealing with one. AT&T also said that it’s already taking many of the actions Elliott proposed. If that’s true AT&T sure hasn’t done a great job of articulating that. There are so many strategic decisions I could pick apart (and have), but I think this one is emblematic of the company’s situation: Last year, AT&T decided that driving away DirecTV and DirecTV Now (now called AT&T TV Now) customers by raising prices and cutting back on channels was the best path to improving profitability. When making a product less appealing to customers is the strategy, that’s a problem. It doesn’t serve consumers, employees or shareholders to operate that way, which is why I’ve written here and here that AT&T should sell off the DirecTV division – especially as AT&T’s own WarnerMedia group gears up to introduce HBO Max next year, an app that will compete with DirecTV services. AT&T is valued at nearly 8 times forward Ebitda, a 20% premium to its five-year historical average ratio, though it’s a wide discount to Disney and Comcast’s valuations. Cohn and Steinberg figure their suggestions could drive AT&T above $60 a share by the end of 2021, from about $38 currently. I don’t put much stock in such predictions, though it’s clearly caught shareholders’ attention. Whether AT&T gets to $60, or $50 or $70, is anyone’s guess. But Stephenson does need to rethink his approach – or the board may need to rethink his title. To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Jerry Jones claims the NFL can get 50% more from its next TV contracts than it did last time around – thanks to sports betting legalization.
NEW YORK and LOS ANGELES , Sept. 4, 2019 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX) (the "Company") today announced that members of the Company's senior management team are scheduled ...
Long-Term Agreement Includes Exclusive Audio Rights from FOX News Channel, FOX Business Network; and FOX News Headlines 24/7 Channel Will Continue To Be Produced Exclusively For Si
When Rupert Murdoch's Fox Corp launches the FOX Bet sports betting platform on Monday, it will do what no other major media company has done in North America: become the face of a sports gambling platform. FOX Bet, which launches in New Jersey, is operated through a partnership with gaming provider The Stars Group (TSG) . Entertainment giants from Walt Disney Co to AT&T Inc's WarnerMedia have waded into the red hot sports betting arena, which experts project could generate $9 billion of revenue over the next few years in gambling revenue.
A couple of board chairs increased their stakes last week. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. Bunge Ltd (NYSE: BG) saw a director step up to the buy window again last week.
Fox Corporation (NASDAQ: FOXA ) (NASDAQ: FOX ) Chairman Rupert Murdoch reported in a Thursday SEC filing that he has purchased 500,000 shares of the company at an average price of $32.06. Murdoch bought ...
Readers hoping to buy Fox Corporation (NASDAQ:FOXA) for its dividend will need to make their move shortly, as the...
FNC Continues Reign as Number One in Cable News Across Total Day and Primetime Viewers for 212th Month, Crushing CNN and MSNBC with Every Weekday Program in the Demo
Wall Street and investors were likely pleased to see more concrete updates on Disney's (DIS) streaming TV future to challenge the likes of Netflix (NFLX) from this past weekend's D23 Expo...
Former White House press secretary Sarah Sanders is joining Fox News as a contributor, becoming the latest ex-Trump administration official to join the organization.
FOX News has signed former White House Press Secretary Sarah Huckabee Sanders as a contributor, the network announced today. Sanders will provide political commentary and analysis across all of FOX News Media, including FOX News Channel , FOX Business Network , FOX News Digital, FOX Nation and the radio/podcast division.
World Wrestling Entertainment, Inc. (NYSE: WWE ) shares traded higher by another 4% on Tuesday after the company announced a new TV deal for its NXT brand to air a two-hour weekly show on Wednesday nights. ...
La Jolla, CA, based Investment company Makaira Partners LLC (Current Portfolio) buys Fox Corp, sells Zebra Technologies Corp, GCI Liberty Inc, Qurate Retail Inc, CDW Corp, L Brands Inc during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Makaira Partners LLC. Continue reading...