|Bid||21.06 x 1100|
|Ask||22.36 x 1000|
|Day's range||21.81 - 22.73|
|52-week range||19.81 - 39.74|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||7.80|
|Earnings date||04 Feb 2020|
|Forward dividend & yield||0.46 (2.03%)|
|Ex-dividend date||02 Mar 2020|
|1y target est||37.33|
FOX News Channel (FNC) and Facebook will co-host a town hall on the global coronavirus pandemic on Thursday, April 2nd at 7PM/ET, featuring a virtual audience using Portal from Facebook smart video calling devices for the first time ever. Moderated by The Story’s (weekdays, 7-8PM/ET) Martha MacCallum, the one hour commercial-free town hall will feature medical and business experts, including White House coronavirus task force members Dr. Deborah Birx and Surgeon General Dr. Jerome Adams. It will also be livestreamed on FNC’s Facebook page, FOX’s CoronavirusNOW.com and CoronavirusNOW channel on Samsung TV Plus in addition to all FOX Television Stations websites, Facebook pages and apps.
FOX News Media has launched a new editorial feature entitled, "America Together" on the network’s linear and digital platforms. The feature will highlight daily inspiring stories to provide FOX News Media’s audiences with a realm of uplifting content throughout the global coronavirus pandemic. America Together will include stories of volunteerism, charitable efforts and everyday heroism in the face of all the challenges unfolding throughout the coronavirus pandemic. All America Together content can be found on FOXNews.com.
(Bloomberg Opinion) -- The coronavirus has upended sporting franchises from the National Basketball Association and the English Premier League to Formula 1. While basketball and soccer fans may be cursing as they twiddle their thumbs, their distress is likely to pale beside the loss felt by followers of the pandemic’s next victim. Cricket in India is as much a religion as a pastime to its legions of fans in this one-sport demographic colossus.The Indian Premier League is almost certain to delay further or cancel its season, originally scheduled to start Sunday, after Prime Minister Narendra Modi imposed a three-week lockdown on the country of 1.3 billion. Sealing India’s borders would prevent key international players from flying in to honor their contracts with what has become the game’s most lucrative platform.Cricket occupies a special place in India’s psyche. Introduced by British colonialists, it inspires fanatical devotion among hundreds of millions of adherents. The IPL plays to packed crowds of at least 40,000 people a time; 462 million viewers watched matches in 2019. When U.S. President Donald Trump visited India last month, he inaugurated the world’s largest cricket stadium — a 110,000-capacity arena in Ahmedabad, in Modi’s home state of Gujarat. No other sport comes close in this part of the world.Described by the late comedian Robin Williams as “basically baseball on valium,” cricket conjures images of Englishmen wearing whites and breaking for tea on the village green. The Indian professional variety is anything but: a high-octane, shortened version of the game (which lasts five days in its longest form) where batters in multi-colored uniforms swing for the boundaries without restraint. The IPL’s introduction in 2008 helped India wrest control of the cricket-industrial complex from traditional powers England and Australia, and symbolizes the country’s economic rise. The league’s growth has been explosive: The IPL’s valuation was estimated at $6.8 billion by consultants Duff & Phelps in 2019, having risen by more than half since 2016. Investors in the league’s eight team franchises include Fox Corp. Chairman Lachlan Murdoch.“Cricket is no longer a sport in India, it is a career,” M. Senthilnathan, chief coach of the MRF Pace Foundation in Chennai, told me when I paid him a visit last month after wrapping up a four-day tour with the Singapore Cricket Club. Backed by giant tire maker MRF Ltd., the foundation is dedicated to developing fast bowlers, an area of cricket in which India has been relatively deficient.In light of how cricket’s commercial potential has blossomed, it’s tempting to question the sport’s future trajectory as India’s lockdown adds pressure on an economy that had already lost its high-growth sheen. There’s no question that India has come back to earth. Gross domestic product may rise as little as 3% in the first quarter, down from 4.7% in the final three months of last year and 8%-plus in early 2018.Big-money cricket won’t go the same way, though. The IPL has unleashed a new approach to the game akin to that depicted in Michael Lewis’s “Moneyball.” The book (and subsequent movie) chronicled how the Oakland Athletics’ then-general manager, Billy Beane, employed data analytics to identify undervalued players and better compete against richer teams in baseball. This economic approach to cricket has bred innovation and upward class mobility.The MRF foundation typifies that mindset. India’s problem is that it historically lacked a stable of top-line fast bowlers, Senthilnathan told me as his students honed lightning bolts in nearby nets. The country dominated spin-bowling, a slower, more artful form of delivery that’s perfect for local conditions but not as suited to the muscular tone of the modern game. MRF recruited Australian speed great Dennis Lillee to help design the foundation, which grooms players and seeks to eke out that extra few percent.The drive to find the best young players has opened up opportunities for India’s rural population, long shut out of top-level cricket. The money that IPL has brought to the game has enabled a level of granular talent scouting and district organization that was often wanting outside the biggest cities.Attention to detail and wringing every morsel of talent was also evident at the Center for Sports Science at the Sri Ramachandra Institute of Higher Education and Research in Chennai. Indoor nets had sensors planted into the floor to gauge how a player distributes their weight, how much tension is in each arm and leg and how to utilize that asset or minimize the drag. I counted a dozen cameras along the pitch. Up a flight of stairs, officials and data scientists sat behind a dark screen assessing information.I came away much more optimistic about India’s cricketing future than my own (even if I did claim a few wickets on our recreational tour). Modern sport, like India itself, is too big to be knocked permanently off its stride by a virus, even one as dangerous as Covid-19. This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Daniel Moss is a Bloomberg Opinion columnist covering Asian economies. Previously he was executive editor of Bloomberg News for global economics, and has led teams in Asia, Europe and North America.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg Opinion) -- Vince McMahon was once tossed into a grave and almost buried alive by the Undertaker. But that’s nowhere near as bad as the year he’s having now. The burial, of course, was staged, while the agony of 2020 is very real. The coronavirus pandemic has temporarily taken down the business of live sports — both real and fake. That’s left McMahon’s World Wrestling Entertainment Inc. to hold matches in empty arenas, making the spectacle feel even more theatrical than sports-like, with dramatic monologues delivered directly to the camera instead of to the shouting fans that normally line the stands. Meanwhile, McMahon’s XFL football league, which he rebooted earlier this year, had to cancel the rest of its season. XFL is privately held by McMahon; however, shares of WWE have plunged more than 40% since December.McMahon, the 74-year-old chairman and CEO of WWE, is now looking to free up funds without relinquishing his control over the wrestling empire. On Tuesday, the company disclosed that McMahon entered into a prepaid variable forward contract, which essentially functions as a cash advance from a bank. The way it works is, McMahon agrees to eventually sell some of his shares at some future date — March 2024, in this case — receiving the money now, but without having to actually turn over the stock or pay taxes on the sale yet.According to Bloomberg News’s Drew Singer, the bank was Morgan Stanley and the deal priced 2.26 million shares at $38 apiece, representing more than $80 million in freed-up liquidity. In the meantime, McMahon gets to collect the usual dividends on those shares, and he can keep the holdings by settling the contract for cash. The agreement also doesn’t affect McMahon’s other 25 million or so class B shares, which represent just over 70% of the company’s total voting power.Even before the coronavirus began sweeping through the U.S., WWE was having a tough year, amid a shrinking number of subscribers to its streaming-TV service, WWE Network, and setbacks with international distribution deals. After the latest earnings disappointment, McMahon fired co-presidents George Barrios and Michelle Wilson, citing “different views” on how to achieve the company’s strategic goals, in what came as a disconcerting sign to investors. McMahon, as revered as he is by wrestling fans — his own ring persona, Mr. McMahon, is based on the real him — he has faced some criticism lately for not keeping the franchise fresh enough. He also came under fire last year following John Oliver’s scathing “Last Week Tonight” segment on the health and treatment of WWE’s wrestlers. Notably, while other sports leagues aren’t having their teams play to protect them from the spread of the virus, WWE’s cast is still having to work — and in close contact, too. WrestleMania, the company’s biggest annual event, is still being held April 4-5 — though without any fans allowed to attend in person, it will lose out on important ticket and merchandise sales. Viewers can watch on the $10-a-month WWE Network app or on pay-per-view. (Walt Disney Co.’s ESPN, struggling to fill its own programming schedule, has been airing WrestleMania classics.)In bringing back the XFL, which played just one season in 2001, McMahon was hoping to inject some of the WWE flavor into a sport that he sees as dull under the National Football League’s rules and style. When he announced the XFL would return in February 2020, news stories questioned whether it would work this time, giving McMahon something to prove. Now both his babies are hurting, and his wealth is tied up in them. For years, WWE has been considered an attractive takeover candidate for media giants and live-events companies. It holds a ton of valuable intellectual property in its characters and story lines, which in theory leaves open a realm of possibilities for a buyer with Disney-like ingenuity, building on WWE the way Disney has with the Marvel comic books. Likewise, WWE might appeal to those looking to invest more in sports, as Fox Corp. has stated it’s doing. Media companies are also paying big sums for content with which to stock their new streaming services, such as the Peacock app being introduced next month by Comcast Corp.’s NBCUniversal. McMahon has long been opposed to selling the company, wanting it to stay in the family. His daughter Stephanie McMahon manages the brand, and her husband Paul “Triple H” Levesque oversees talent and live events — both are wrestlers. The PVF contract helps protect that ownership. It may also help to have Donald Trump connections: McMahon's wife, Linda McMahon, runs the pro-Trump super PAC called America First Action, after stepping down as the president's head of the Small Business Administration last year.That said, with money tight, the outlook for traditional cable networks souring and McMahon’s XFL passion project meeting an untimely finish once again, now may be the time for any interested buyers to take their shot. This column does not necessarily reflect the opinion of 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/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
FOX News Channel (FNC) will host a two-hour virtual town hall with President Donald Trump along with leading members of the White House coronavirus task force. Co-moderated by news anchors Harris Faulkner (Outnumbered Overtime, weekdays 1-2PM/ET) and Bill Hemmer (Bill Hemmer Reports, weekdays 3-4PM/ET), the virtual forum will take place on Tuesday, March 24th from 12-2PM/ET. Additionally, contributions will be made throughout the town hall by medical experts and FNC contributors Dr. Nicole Saphier and Dr. Marc Siegel as well as Dr. Mehmet Oz.
To the annoyance of some shareholders, Fox (NASDAQ:FOXA) shares are down a considerable 41% in the last month. That...
Fox Corp., the broadcast news and entertainment company holding what remains of the Murdoch Family's television and cable sports and media assets after the sale of 21st Century Fox to Disney, has agreed to acquire the streaming service Tubi TV for $440 million. Tubi, once of a now-dwindling number of free ad-supported streaming services, will bring a new digitally native consumer offering to Fox with younger-skewing audience that consumes roughly 160 million hours of entertainment on the platform, according to a statement. Available on over 25 digital platforms in the U.S. and featuring 20,000 titles and 56,000 hours of film and television from 250 content partners -- including major studios -- will now be able to pull from Fox's stable of news and sports programming in addition to all that licensed television and film.
FOX News Digital finished the month of February number one in the news competitive set in multiplatform total minutes, surpassing CNN.com for the seventeenth consecutive month, according to Comscore.
FOX News Channel (FNC) has named family and emergency medical professional Dr. Janette Nesheiwat as a contributor, the network announced today. A consistent voice on both FNC and FOX Business Network, Dr. Nesheiwat will continue to provide viewers with the latest medical news and analysis across both platforms on the coronavirus pandemic. She will make her first appearance in this new capacity this evening on Tucker Carlson Tonight at 8PM/ET.
FOX News Channel (FNC) has signed Johns Hopkins health policy expert and surgeon Dr. Martin Makary, M.D., M.P.H. as a contributor, the network announced today. In this capacity, Dr. Makary will offer medical and public health analysis across FNC’s daytime and primetime programming. He will make his first appearance on FOX & Friends Weekend (Saturdays and Sundays, 6-10AM) tomorrow morning.
FOX News Channel (FNC) will host its second town hall with 2020 Democratic presidential candidate Senator Bernie Sanders (I-VT) on Monday, March 9th in Detroit, Michigan, announced Jay Wallace, president and executive editor of FOX News Media. Co-moderated by FNC’s chief political anchor Bret Baier of Special Report and The Story anchor Martha MacCallum, the event will take place from 6:30-7:30PM/ET and focus on key issues of the 2020 presidential election ahead of Tuesday’s primary in Michigan. Abbreviated versions of Special Report and The Story will run from 6-6:30PM/ET and 7:30-8PM/ET, respectively.
FOX News Channel (FNC) will host its first town hall with 2020 Democratic presidential candidate former Mayor Michael Bloomberg at the Hylton Performing Arts Center on Monday, March 2nd in Manassas, Virginia, announced Jay Wallace, president and executive editor of FOX News Media. Co-moderated by FNC’s chief political anchor Bret Baier of Special Report and The Story anchor Martha MacCallum, the event will take place from 6:30-7:30PM/ET and focus on key issues of the 2020 presidential election. Abbreviated versions of Special Report and The Story will run from 6-6:30PM/ET and 7:30-8PM/ET respectively.
FOX News Channel (FNC) will host a town hall with President Donald Trump on Thursday, March 5th at the Scranton Cultural Center in Scranton, Pennsylvania announced Jay Wallace, president and executive editor of FOX News Media. Co-moderated by Special Report’s Bret Baier, chief political anchor, and The Story’s Martha MacCallum, FNC’s first town hall with President Trump of the 2020 election season will take place from 6:30-7:30PM/ET and focus on top election issues and news of the day. Abbreviated editions of Baier’s Special Report and MacCallum’s The Story will air from 6-6:30PM/ET and 7:30-8PM/ET, respectively. Additionally, FNC will present an encore presentation of the town hall from 11PM-12AM/ET that night, pre-empting FOX News @ Night with Shannon Bream.
It looks like Fox Corporation (NASDAQ:FOXA) is about to go ex-dividend in the next 4 days. Investors can purchase...
(Bloomberg Opinion) -- What a day for the Walt Disney Co. to let out its biggest secret.Just as investors were engrossed by news updates on the worsening coronavirus and its convulsive effect on global financial markets, Disney delivered another jolt by announcing longtime CEO Bob Iger was stepping down. Huh? It was the last thing shareholders saw coming. The company’s choice wasn’t even who most people expected. Bob Chapek, the head of Disney’s theme parks business, is taking over, effective immediately. Iger will remain chairman through to the end of 2021.It’s the most significant change to happen to the entertainment giant in more than a decade. Iger had become almost as much the face of the company as Walt Disney was himself, and was responsible for building it into the globally admired brand and content powerhouse that it is now. While Iger, at 69 years old, had been inching closer to retirement, it wasn’t supposed to come until next year. Shares of Disney fell 6% in after-hours trading, as investors tried to pick their jaws up off the floor. Anyone who read Iger’s memoir, “The Ride of a Lifetime,” which was released last year, might have been led to believe that another top Disney executive, Kevin Mayer, was next in line for the keys to the Magic Kingdom. Mayer oversees Disney’s new streaming-TV operations — the very business at the center of the new Disney. It’s become the focus of attention both inside and outside the company in recent months as Disney entered the industry’s streaming wars with the wildly successful launch of Disney+. Iger made repeated mentions of Mayer in the book, and few of Chapek. Mayer is “a master strategist and dealmaker,” Iger wrote. “A CEO couldn’t ask for a better strategic partner.” Partner. The question now is, will Mayer stay, after being passed over for what might be the most enviable job in corporate America? Even though Iger, during a conference call held for investors and analysts Tuesday, tried to soothe concerns about the seemingly abrupt move, it’s hard not to wonder about a larger backstory, one where there’s potentially some internal friction. As Iger kept putting off retirement over the years, other successor candidates seemed to get sick of waiting and left.Not choosing Mayer does raise an even bigger question: How do Iger and the company view the future of Disney? If only for their respective roles, Chapek in some ways represents Disney’s past, while Mayer represents the new Disney. All that being said, Chapek is a widely respected leader, and this certainly wasn’t a decision anyone at Disney would make lightly. From one Bob to another, Iger said Tuesday that it was the right time to transition to a new CEO and that Chapek “is absolutely the right person.” There’s little reason to question that. And it should be remembered, when Iger was first named CEO, investors weren't so sure about him, either.There is one telling nugget from Iger’s book that could be seen as presaging today’s turn of events. Passing over all his transformative dealmaking — buying Pixar, Marvel, Lucasfilm and then the big one, Rupert Murdoch’s 21st Century Fox — Iger instead highlights opening Disney’s Shanghai park as one of the defining moments of his career. Chapek played a big role in that. Chapek “oversaw the largest capital expansion in the history of our parks,” Iger said Tuesday, highlighting the Shanghai opening, as well as the “Star Wars” Galaxy Edge attraction at its U.S. parks and the company’s large fleet of cruise ships. Iger added that he and the board had identified Chapek as his likely successor “quite some time ago.”Iger isn’t saying goodbye just yet. He explained that part of the reason for stepping aside now is so that he can focus more on the creative side of Disney. What he wants to accomplish more than anything before he leaves is “getting everything right creatively.” Content is more important than ever as Disney almost single-handedly props up the box office and tries to lure fans to its streaming services, all the while integrating the Fox assets and keeping alive its traditional media networks that still drive the bulk of its profits. But that’s still only part of the reason for choosing to step down now. Whatever the case, it’s the end of an era for Disney; Iger has left an indelible mark, and left Disney better than it was before him. Chapek has big shoes to fill. 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 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/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
FOX News Channel (FNC) delivered its highest-rated month in primetime in network history, topping all of basic cable from 8-11PM/ET, and notched 44 consecutive months dominating all of basic cable in total viewership during the month of February, according to Nielsen Media Research. The network also marked 218 months as the most-watched cable news network in total day and primetime viewers, garnering 2 million viewers in total day and 3.5 million viewers in primetime. Additionally, FNC’s coverage of President Donald Trump’s 2020 State of the Union Address was the number one cable telecast for the month with 11,684,000 viewers.
FOX News Channel (FNC) will host a town hall with 2020 Democratic presidential candidate Sen. Amy Klobuchar (D-MN) on Thursday, February 27th in Raleigh, NC, announced Jay Wallace, president and executive editor of FOX News Media. Co-moderated by FNC’s chief political anchor and anchor of Special Report (weekdays, 6-7PM/ET) Bret Baier and The Story’s (weekdays 7-8PM/ET) Martha MacCallum, FNC’s second town hall with Sen. Klobuchar will take place from 6:30-7:30PM/ET and focus on key issues of the 2020 presidential election. Additionally, abbreviated versions of Baier’s Special Report will air from 6-6:30PM/ET and MacCallum’s The Story will run from 7:30-8PM/ET.
FOX News Digital started off the year by scoring record highs across key industry categories and driving its best month ever in multiplatform views and multiplatform unique visitors, according to Comscore.
Fox Corporation (NASDAQ:FOXA) last week reported its latest second-quarter results, which makes it a good time for...