Fox Class A (FOXA)
Distributes FOX news, sports and entertainment across broadcast, cable and streaming.
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Fox is what the Murdochs kept after the film studio went to Disney: a narrow slate of live news and live sports, and little else. It sells the same hours twice — to the cable and satellite companies that pay to carry its channels, and to advertisers who pay for the crowd. Cable homes keep disappearing, so Fox is building and buying its way onto the internet instead.
Item facts: FY2026 · year ended June 30, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
7 in detail · 16 more below
FOX Sports
Fox's largest piece: NFL Sunday afternoons, the men's World Cup, baseball, college football, racing and soccer. The Sunday football package alone costs about $2.25 billion a year through the 2033 season, and the league may walk away after 2029.
Competes with NFL on CBS (Paramount Skydance) · Monday Night Football on ESPN (Disney) · Sunday Night Football on Peacock (NBCUniversal)
In plain English
Fox does not own any games. It rents the right to show them — paying the NFL roughly $2.25 billion a year for the Sunday afternoon package, and paying other leagues for baseball, college football, stock-car racing and soccer — then sells the crowd that turns up to advertisers and the channels to cable companies.
Picture a promoter who books the act everyone in town wants to see: the tickets sell themselves, but the band's fee climbs every time the contract comes up. This past June quarter the men's World Cup filled Fox's air and lifted advertising sharply. The same tournament's rights bills pushed cable profit down while revenue rose.
FOX Television Stations
Twenty-nine local stations living off what cable companies pay to carry them plus local ad breaks, election spending the swing factor. Across all of Fox, signed distribution, content and sports-ad deals held about $6.1 billion of promised money as of the spring.
Competes with Nexstar's local station group (Nexstar) · Sinclair's local stations (Sinclair) · TEGNA's local stations (TEGNA) · Local video ad slots (YouTube)
In plain English
Twenty-nine local television stations — the sort you find at channel 5 or channel 11, with an evening newscast and a FOX network show behind it. Money arrives two ways: cable, satellite and internet-TV services pay Fox for permission to pass each station through to their customers, and local businesses buy the ad breaks.
Elections set the rhythm. Political campaigns bought more than $260 million of Fox air in the last midterm round and more than $400 million in the presidential year, and Fox expects a record midterm cycle this autumn. The quiet worry is the other line: carriage revenue here was essentially flat in the June quarter.
FOX News Media
The profit engine. FOX News Channel finished the year as the most-watched cable network in both daytime and prime time, and it charges the highest per-home fee in cable news. Watch the next round of contract renewals with the cable companies.
Competes with MS NOW (Versant Media Group) · CNN's cable channel (CNN) · Newsmax channel (Newsmax)
In plain English
Two channels — one about politics, one about markets — plus a paid app of extra shows and a free weather stream. Comcast, Charter, DirecTV, DISH and YouTube TV pay Fox a fee for every home they carry them into, whether that home watches or not, and advertisers pay for the hours people spend there.
The fee is the whole story. Outside figures put Fox News at a couple of dollars per home per month, around double what CNN collects. The cable audience keeps shrinking, but Fox's slice of what is left keeps growing, which hands it the stronger seat at renewal time. And the costs here are anchors and news bureaus, not sports rights, so far more of the money sticks.
Tubi
Fox's free, ad-paid streaming service: roughly $1.5 billion a year and about 110 million people a month, growing 35% in the June quarter and profitable in all four. The catch is soft ad pricing on internet TV.
Competes with The Roku Channel (Roku) · Pluto TV (Paramount Skydance) · Free streaming on YouTube (YouTube)
In plain English
Free films and old television shows. No sign-up, no monthly bill — open the app, watch, and the ads pay for it. Roughly 110 million people use it in a month, and about $1.5 billion a year of advertising comes back.
The point is who is watching. Around seven in ten Tubi viewers have no cable at all, so advertisers buy it as a way into homes the old channels no longer touch, and almost all of the viewing is people picking something rather than leaving a channel on. Growth is quick and the service now earns money every quarter, though management calls internet-TV ad pricing very price sensitive.
FOX One
Fox's own subscription app, launched August 2025 at $19.99 a month and aimed at homes without cable. Fox publishes no subscriber count; outside trackers put sign-ups in the low millions. Watch whether it grows without upsetting the cable companies.
Competes with ESPN Unlimited (Disney) · Peacock (NBCUniversal) · Paramount+ (Paramount Skydance)
In plain English
One year old. Fox's own app, about twenty dollars a month, carrying its sports and news for people who never signed up for cable — cheaper if bundled, from roughly twenty-five dollars with FOX Nation, forty with ESPN.
Fox is deliberately fishing outside its own pond. It says these subscribers are genuinely new rather than cable homes switching over, which matters, because the same cable companies paying Fox billions would not enjoy being undercut by it. Fox releases no subscriber figure; outside trackers counted a few million sign-ups around the World Cup, against a stated goal of low-to-mid single-digit millions. What Fox spends building its digital services came in below plan last year, and it expects to spend less again.
Roku
Agreed in June 2026: a roughly $22 billion cash-and-shares deal for the company whose software runs the home screen in more than 100 million streaming households. The Justice Department is asking questions; closing is targeted for the first half of 2027.
Competes with Fire TV (Amazon) · Google TV (Google) · Tizen smart-TV system (Samsung)
In plain English
The small purple box — or the software already built into a cheap television — that puts the streaming apps on the screen and decides which one you see first. Roku's business is that screen: of roughly $4.7 billion of revenue last calendar year, more than $2 billion came from advertising.
Fox agreed in June to buy the whole company for about $22 billion in cash and Fox shares. That would put Tubi and The Roku Channel, the two most-used free streamers, under one owner, and hand Fox the front door of a great many televisions rather than a room behind it. The Justice Department asked for more information in September.
FOX Entertainment
The entertainment shows and cartoons on the FOX network, plus the studios that make them and sell them on. The quietest piece of the company — it picked up late in the year as the studios shipped more shows to outside buyers.
Competes with CBS Studios (Paramount Skydance) · Universal Television (NBCUniversal) · Netflix originals (Netflix)
In plain English
What fills the FOX network when there is no game on: the entertainment schedule and its animation, made in studios Fox owns — Bento Box for cartoons, Studio Ramsay Global, FOX Alternative Entertainment, TMZ.
Two tills ring here. Advertisers buy the breaks inside those shows, and the studios sell finished programmes to other buyers, which is the part that grew late in the year. It is the smallest of Fox's big pieces and the one executives mention least — studios come up once or twice on a typical earnings call. Its job is plain enough: keep something on the network's air on the nights sport does not.
FOX SportsFox's largest piece: NFL Sunday afternoons, the men's World Cup, baseball, college football, racing and soccer. The Sunday football package alone costs about $2.25 billion a year through the 2033 season, and the league may walk away after 2029.Fox's largest piece: NFL Sunday afternoons, the men's World Cup, baseball, college football, racing and soccer. The Sunday football package alone costs about $2.25 billion a year through the 2033 season, and the league may walk away after 2029.
In plain English
Fox does not own any games. It rents the right to show them — paying the NFL roughly $2.25 billion a year for the Sunday afternoon package, and paying other leagues for baseball, college football, stock-car racing and soccer — then sells the crowd that turns up to advertisers and the channels to cable companies.
Picture a promoter who books the act everyone in town wants to see: the tickets sell themselves, but the band's fee climbs every time the contract comes up. This past June quarter the men's World Cup filled Fox's air and lifted advertising sharply. The same tournament's rights bills pushed cable profit down while revenue rose.
Competes with NFL on CBS (Paramount Skydance) · Monday Night Football on ESPN (Disney) · Sunday Night Football on Peacock (NBCUniversal)
FOX Television StationsTwenty-nine local stations living off what cable companies pay to carry them plus local ad breaks, election spending the swing factor. Across all of Fox, signed distribution, content and sports-ad deals held about $6.1 billion of promised money as of the spring.Twenty-nine local stations living off what cable companies pay to carry them plus local ad breaks, election spending the swing factor. Across all of Fox, signed distribution, content and sports-ad deals held about $6.1 billion of promised money as of the spring.
In plain English
Twenty-nine local television stations — the sort you find at channel 5 or channel 11, with an evening newscast and a FOX network show behind it. Money arrives two ways: cable, satellite and internet-TV services pay Fox for permission to pass each station through to their customers, and local businesses buy the ad breaks.
Elections set the rhythm. Political campaigns bought more than $260 million of Fox air in the last midterm round and more than $400 million in the presidential year, and Fox expects a record midterm cycle this autumn. The quiet worry is the other line: carriage revenue here was essentially flat in the June quarter.
Competes with Nexstar's local station group (Nexstar) · Sinclair's local stations (Sinclair) · TEGNA's local stations (TEGNA) · Local video ad slots (YouTube)
FOX News MediaThe profit engine. FOX News Channel finished the year as the most-watched cable network in both daytime and prime time, and it charges the highest per-home fee in cable news. Watch the next round of contract renewals with the cable companies.The profit engine. FOX News Channel finished the year as the most-watched cable network in both daytime and prime time, and it charges the highest per-home fee in cable news. Watch the next round of contract renewals with the cable companies.
In plain English
Two channels — one about politics, one about markets — plus a paid app of extra shows and a free weather stream. Comcast, Charter, DirecTV, DISH and YouTube TV pay Fox a fee for every home they carry them into, whether that home watches or not, and advertisers pay for the hours people spend there.
The fee is the whole story. Outside figures put Fox News at a couple of dollars per home per month, around double what CNN collects. The cable audience keeps shrinking, but Fox's slice of what is left keeps growing, which hands it the stronger seat at renewal time. And the costs here are anchors and news bureaus, not sports rights, so far more of the money sticks.
Competes with MS NOW (Versant Media Group) · CNN's cable channel (CNN) · Newsmax channel (Newsmax)
TubiFox's free, ad-paid streaming service: roughly $1.5 billion a year and about 110 million people a month, growing 35% in the June quarter and profitable in all four. The catch is soft ad pricing on internet TV.Fox's free, ad-paid streaming service: roughly $1.5 billion a year and about 110 million people a month, growing 35% in the June quarter and profitable in all four. The catch is soft ad pricing on internet TV.
In plain English
Free films and old television shows. No sign-up, no monthly bill — open the app, watch, and the ads pay for it. Roughly 110 million people use it in a month, and about $1.5 billion a year of advertising comes back.
The point is who is watching. Around seven in ten Tubi viewers have no cable at all, so advertisers buy it as a way into homes the old channels no longer touch, and almost all of the viewing is people picking something rather than leaving a channel on. Growth is quick and the service now earns money every quarter, though management calls internet-TV ad pricing very price sensitive.
Competes with The Roku Channel (Roku) · Pluto TV (Paramount Skydance) · Free streaming on YouTube (YouTube)
FOX OneFox's own subscription app, launched August 2025 at $19.99 a month and aimed at homes without cable. Fox publishes no subscriber count; outside trackers put sign-ups in the low millions. Watch whether it grows without upsetting the cable companies.Fox's own subscription app, launched August 2025 at $19.99 a month and aimed at homes without cable. Fox publishes no subscriber count; outside trackers put sign-ups in the low millions. Watch whether it grows without upsetting the cable companies.
In plain English
One year old. Fox's own app, about twenty dollars a month, carrying its sports and news for people who never signed up for cable — cheaper if bundled, from roughly twenty-five dollars with FOX Nation, forty with ESPN.
Fox is deliberately fishing outside its own pond. It says these subscribers are genuinely new rather than cable homes switching over, which matters, because the same cable companies paying Fox billions would not enjoy being undercut by it. Fox releases no subscriber figure; outside trackers counted a few million sign-ups around the World Cup, against a stated goal of low-to-mid single-digit millions. What Fox spends building its digital services came in below plan last year, and it expects to spend less again.
Competes with ESPN Unlimited (Disney) · Peacock (NBCUniversal) · Paramount+ (Paramount Skydance)
RokuAgreed in June 2026: a roughly $22 billion cash-and-shares deal for the company whose software runs the home screen in more than 100 million streaming households. The Justice Department is asking questions; closing is targeted for the first half of 2027.Agreed in June 2026: a roughly $22 billion cash-and-shares deal for the company whose software runs the home screen in more than 100 million streaming households. The Justice Department is asking questions; closing is targeted for the first half of 2027.
In plain English
The small purple box — or the software already built into a cheap television — that puts the streaming apps on the screen and decides which one you see first. Roku's business is that screen: of roughly $4.7 billion of revenue last calendar year, more than $2 billion came from advertising.
Fox agreed in June to buy the whole company for about $22 billion in cash and Fox shares. That would put Tubi and The Roku Channel, the two most-used free streamers, under one owner, and hand Fox the front door of a great many televisions rather than a room behind it. The Justice Department asked for more information in September.
Competes with Fire TV (Amazon) · Google TV (Google) · Tizen smart-TV system (Samsung)
FOX EntertainmentThe entertainment shows and cartoons on the FOX network, plus the studios that make them and sell them on. The quietest piece of the company — it picked up late in the year as the studios shipped more shows to outside buyers.The entertainment shows and cartoons on the FOX network, plus the studios that make them and sell them on. The quietest piece of the company — it picked up late in the year as the studios shipped more shows to outside buyers.
In plain English
What fills the FOX network when there is no game on: the entertainment schedule and its animation, made in studios Fox owns — Bento Box for cartoons, Studio Ramsay Global, FOX Alternative Entertainment, TMZ.
Two tills ring here. Advertisers buy the breaks inside those shows, and the studios sell finished programmes to other buyers, which is the part that grew late in the year. It is the smallest of Fox's big pieces and the one executives mention least — studios come up once or twice on a typical earnings call. Its job is plain enough: keep something on the network's air on the nights sport does not.
Competes with CBS Studios (Paramount Skydance) · Universal Television (NBCUniversal) · Netflix originals (Netflix)
Named in filings, launches and programs
- FS1 / FS2 / FOX Sports Racing / FOX Soccer PlusEcosystemFox's national sports cable channels, carrying what does not fit on the broadcast network; they fight ESPN's channels for rights and for slots in the cable bundle.
- Big Ten Network / B1G+EcosystemThe round-the-clock Big Ten college sports channel, about 61% Fox-owned, plus a stream for the events the channel does not televise.
- FOX DeportesEcosystemThe Spanish-language sports service for US viewers, part of the cable channel group.
- FOX NationServiceThe paid app of extra shows for Fox News viewers, now also sold as the cheaper add-on inside a FOX One bundle from $24.99.
- FOX WeatherServiceA free, ad-paid weather stream that carries Fox News Media beyond the cable box.
- LiveNOW from FOXServiceA free round-the-clock news stream, no subscription, paid for by advertising.
- FOX Local StreamsServiceFree ad-paid channels carrying 17 of the owned stations, putting local news on smart TVs.
- FOX SoulServiceA free streaming channel programmed for Black audiences.
- MyNetworkTVServiceTwo hours a night of previously aired programming, supplied to stations to fill the schedule.
- FLXPlatformThe in-house system the stations use to sell their local ad slots digitally.
- Outkick MediaBrandA digital sports and news property, counted inside the cable business.
- Red Seat VenturesBrandA digital services business built around independent online creators.
- FOX Latin America / Caliente TVBrandA Mexican sports streaming platform and channel bought in June 2025, bringing Champions League, Ligue 1 and some Liga MX rights; anchors the Latin America push.
- CredibleBrandA consumer marketplace for student and personal loans, mortgages and insurance; Fox held 66% as of its 2025 annual report.
- FOX Studio LotBrandFifty-plus acres in Los Angeles, about two million square feet of stages and offices, rented out for production and office space.
- FanDuel option and Flutter stakeProduct · Pre-revenueA right to buy 18.6% of FanDuel through 2030 plus a small stake in Flutter; no revenue, and the stated paper value has fallen over the past year.
FS1 / FS2 / FOX Sports Racing / FOX Soccer PlusEcosystem
Fox's national sports cable channels, carrying what does not fit on the broadcast network; they fight ESPN's channels for rights and for slots in the cable bundle.
Big Ten Network / B1G+Ecosystem
The round-the-clock Big Ten college sports channel, about 61% Fox-owned, plus a stream for the events the channel does not televise.
FOX DeportesEcosystem
The Spanish-language sports service for US viewers, part of the cable channel group.
FOX NationService
The paid app of extra shows for Fox News viewers, now also sold as the cheaper add-on inside a FOX One bundle from $24.99.
FOX WeatherService
A free, ad-paid weather stream that carries Fox News Media beyond the cable box.
LiveNOW from FOXService
A free round-the-clock news stream, no subscription, paid for by advertising.
FOX Local StreamsService
Free ad-paid channels carrying 17 of the owned stations, putting local news on smart TVs.
FOX SoulService
A free streaming channel programmed for Black audiences.
MyNetworkTVService
Two hours a night of previously aired programming, supplied to stations to fill the schedule.
FLXPlatform
The in-house system the stations use to sell their local ad slots digitally.
Outkick MediaBrand
A digital sports and news property, counted inside the cable business.
Red Seat VenturesBrand
A digital services business built around independent online creators.
FOX Latin America / Caliente TVBrand
A Mexican sports streaming platform and channel bought in June 2025, bringing Champions League, Ligue 1 and some Liga MX rights; anchors the Latin America push.
CredibleBrand
A consumer marketplace for student and personal loans, mortgages and insurance; Fox held 66% as of its 2025 annual report.
FOX Studio LotBrand
Fifty-plus acres in Los Angeles, about two million square feet of stages and offices, rented out for production and office space.
FanDuel option and Flutter stakeProduct · Pre-revenue
A right to buy 18.6% of FanDuel through 2030 plus a small stake in Flutter; no revenue, and the stated paper value has fallen over the past year.