FOXA 10-K Annual Reports

Fox Corporation (FOXA) has reported its fiscal year 2026 results, marked by a significant strategic move with the announcement of its agreement to acquire Roku, Inc. This acquisition, valued at approximately $96.00 per Roku share in a mix of cash and FOX Class A Common Stock, is expected to be a transformative event for the company, aiming to bolster its presence in the streaming and connected TV landscape. Financially, FOXA demonstrated revenue growth driven by its Cable Network Programming and Television segments, with distribution and advertising revenues being key contributors. The company also continued its commitment to shareholder returns, repurchasing approximately $2 billion in stock during fiscal year 2026 and paying dividends, while maintaining a strong liquidity position with $4.2 billion in cash and cash equivalents. Despite the overall revenue growth, net income saw a notable decrease of 25% compared to the prior year, primarily impacted by a change in the fair value of investments and a substantial increase in interest expense, net. The company faced increased operating expenses, partly due to the launch of its direct-to-consumer streaming service, FOX One. Looking ahead, FOXA remains focused on its core strengths in news, sports, and entertainment, aiming to leverage its premium brands and expand its digital offerings, all while navigating a dynamic media industry and the integration of the significant Roku acquisition.

Fox Corporation (FOXA) reported a strong fiscal year 2025, demonstrating significant revenue and net income growth. Total revenues increased by 17% to $16.3 billion, driven by robust performance across all segments. The Cable Network Programming segment saw a 16% revenue increase, primarily due to higher affiliate fees and advertising, while the Television segment experienced an 18% revenue jump, largely fueled by strong advertising revenue from major sports broadcasts like the Super Bowl LIX and political advertising. Net income attributable to Fox Corporation stockholders rose an impressive 51% to $2.26 billion. The company highlighted its strategic strengths, including premium brands like FOX News Media and FOX Sports, leadership positions in key programming, and a significant presence in major domestic markets. The company also continues to invest in its digital distribution offerings, with Tubi showing substantial growth in total view time. Financially, Fox Corp ended fiscal 2025 with a healthy $5.4 billion in cash and cash equivalents, while actively returning capital to stockholders through share repurchases and dividends, and managing its debt effectively. The company also remains focused on its long-term goals of maintaining leadership in news, sports, and entertainment, and expanding its digital engagement with consumers.

Fox Corporation (FOXA) reported a 6% decrease in total revenues for fiscal year 2024, primarily driven by a significant 18% decline in advertising revenue. This decline was largely attributed to the absence of major sporting events like Super Bowl LVII and the FIFA Men's World Cup in the prior year, coupled with lower political advertising at its television stations. However, affiliate fee revenue saw a modest 4% increase, supported by higher per-subscriber rates, even with a decline in the average number of subscribers across its networks. The company's Cable Network Programming segment demonstrated resilience with a 9% increase in Segment EBITDA, driven by controlled operating expenses despite a slight dip in overall segment revenue. Conversely, the Television segment experienced a substantial 50% decrease in Segment EBITDA, directly impacted by the revenue shortfall from major sporting events and political advertising. Despite the revenue challenges, Fox Corporation maintained a strong liquidity position, ending the fiscal year with approximately $4.3 billion in cash and cash equivalents. The company also returned $1.25 billion to stockholders through share repurchases and dividends, underscoring its commitment to shareholder returns. Looking ahead, Fox is investing in digital distribution platforms, including Tubi, which showed growth in total view time. The company also highlighted its continued focus on its core strengths in news, sports, and entertainment, aiming to maintain leadership positions through premium programming.

Fox Corporation reported a solid performance for fiscal year 2023, with total revenues increasing by 7% to $14.9 billion. This growth was driven by a 12% increase in advertising revenue, largely due to major sporting events like the Super Bowl LVII and the FIFA Men's World Cup, alongside continued growth at Tubi and increased political advertising. Affiliate fee revenue also saw a modest 3% increase, primarily from higher rates, though offset by a decline in the average number of subscribers. The company maintained a strong balance sheet, ending the year with approximately $4.3 billion in cash and cash equivalents and returning significant capital to shareholders through share repurchases and dividends. Despite increased operating expenses, particularly related to sports programming rights and digital investments, Fox Corporation's net income attributable to stockholders grew by 3% to $1.24 billion. The company's strategic focus on its core news, sports, and entertainment brands, alongside expansion in digital distribution, positions it to navigate the evolving media landscape. Key areas of investment include digital properties like Tubi and FOX Nation, and content rights for major sports leagues, ensuring a resilient business model.

Fox Corporation's fiscal year 2022 filing highlights a company navigating a dynamic media landscape with resilient performance in its core news and sports segments, while continuing to invest in digital growth. The company reported increased revenues driven by higher affiliate fees and advertising, reflecting strong performance in FOX News Media and FOX Sports, alongside growth in its AVOD service, Tubi. Despite these revenue gains, net income saw a significant decrease year-over-year, largely due to unfavorable year-over-year comparisons in "Other, net," which included a substantial reimbursement from Disney in the prior year and a fair value adjustment on an investment. The company continues to prioritize its iconic brands and live, "appointment-based" content as key differentiators. Key strategic priorities for fiscal 2022 included maintaining leadership in live news, sports, and entertainment, driving revenue growth through high-quality content, and expanding digital distribution. Acquisitions of MarVista Entertainment and TMZ, along with the formation of Studio Ramsay Global, are aimed at strengthening content capabilities. The company also made significant investments in sports rights, including an extended agreement with the NFL and acquisitions of UEFA international soccer rights. Looking ahead, Fox Corporation remains focused on adapting to evolving consumer behavior and technological advancements to sustain its competitive position and drive long-term shareholder value.

Fox Corporation (FOXA) demonstrated revenue growth in fiscal year 2021, reporting $12.9 billion, a 5% increase over the prior year, primarily driven by strong performance in its Cable Network Programming and Television segments. Affiliate fee revenue saw a significant jump of 9%, bolstered by rate increases from renewals and existing agreements. Advertising revenue also climbed 2%, supported by strong political advertising and the consolidation of Tubi, though partially offset by comparisons to the prior year's Super Bowl broadcast. The company's focus on "appointment-based" content, particularly in live sports and news, remains a key strategic advantage. Investments in digital properties, including Tubi and FOX Nation, signal a commitment to expanding direct consumer engagement. Financially, the company reported a substantial increase in net income attributable to stockholders to $2.15 billion, up from $999 million in fiscal 2020. This improvement was driven by higher segment EBITDA, a reimbursement from Disney related to divestiture taxes, and robust investment gains. Despite ongoing investments in content and technology, the company maintained a strong liquidity position with approximately $5.9 billion in cash and cash equivalents and an unused $1 billion revolving credit facility. The company also continued its shareholder return program, repurchasing approximately $1 billion in common stock during fiscal 2021 and paying dividends.

Fox Corporation's 2020 10-K highlights a year of strategic growth and adaptation, marked by an 8% increase in total revenues to $12.3 billion, driven by strong performance in both affiliate fees and advertising. The company continued to solidify its core news, sports, and entertainment businesses, with notable performances in its Cable Network Programming segment, which saw an 8% increase in Segment EBITDA. The Television segment experienced an 11% revenue increase, despite a 9% dip in Segment EBITDA, largely due to the significant impact of COVID-19, which disrupted sports events and led to reduced advertising spending. The company also made strategic acquisitions, including Tubi and Credible, to expand its digital footprint and complementary revenue streams. Despite the challenges presented by the COVID-19 pandemic, Fox Corporation demonstrated resilience. The company's financial health remains solid, supported by strong brands, a significant presence in major markets, and a commitment to shareholder returns through stock repurchases and dividends. The report indicates a focus on adapting to evolving media consumption habits and maintaining leadership in live and "appointment-based" content.

Fox Corporation (FOXA) became a standalone publicly traded company on March 19, 2019, following its separation from Twenty-First Century Fox, Inc. (21CF). This 2019 10-K filing covers the fiscal year ending June 30, 2019, and marks the company's first as an independent entity. The company operates primarily in two segments: Cable Network Programming and Television, with a strong focus on news, sports, and entertainment content. Key brands include FOX News Media, FOX Sports, FOX Entertainment, and FOX Television Stations. Financially, FOXA reported total revenues of $11.4 billion for fiscal year 2019, a 12% increase from the prior year, driven by growth in affiliate fees and advertising. The company experienced a net income of $1.6 billion, a decrease from $2.2 billion in fiscal 2018, largely due to the absence of a significant tax benefit recorded in the prior year. Despite the decrease in net income, the company's operating performance remained robust, with Segment EBITDA increasing by 8% to $2.7 billion. The company also secured significant long-term sports rights and launched new digital initiatives like FOX Nation and FOX Bet.