Fox Corporation facts for kids
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Headquarters at 1211 Avenue of the Americas
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| Public | |
| Traded as | |
| ISIN |
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| Industry | Media |
| Predecessor | 21st Century Fox |
| Founded | March 19, 2019 |
| Founder | Rupert Murdoch |
| Headquarters | 1211 Avenue of the Americas New York, NY 10036 U.S. |
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Area served
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Worldwide |
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Key people
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| Products | Television programs web portals |
| Services | Broadcasting Licensing Streaming Television |
| Revenue |  US$13.97 billion (2022) |
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Operating income
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 US$2.57 billion (2022) |
| US$1.21 billion (2022) |
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| Total assets | US$22.19 billion (2022) |
| Total equity | US$11.56 billion (2022) |
| Owner | Murdoch family (39% voting power) |
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Number of employees
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9,000 (2020) |
| Divisions |
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Fox Corporation is a big American media company. It has its main office in New York City. This company started on March 19, 2019. It was formed from parts of a larger company called 21st Century Fox. These were the parts that The Walt Disney Company did not buy.
The Murdoch family controls Fox Corporation. Rupert Murdoch is the chairman. His son, Lachlan Murdoch, is the main boss, called the CEO. Fox Corp. mainly works in TV, news, and sports. It owns channels like Fox Broadcasting Company, Fox News, and Fox Sports. It also owns the streaming service Tubi. Rupert Murdoch's other company, News Corp, handles his newspaper businesses.
On September 21, 2023, Rupert Murdoch said he would step down as chairman in November 2023.
Contents
How Fox Corporation Started
The name "Fox" comes from the Fox Film Corporation. This company was started by William Fox in 1915.
Forming the New Fox Company
In 2017, The Walt Disney Company announced it wanted to buy many parts of 21st Century Fox. This included movie studios and cable TV channels. Disney paid a lot of money for these parts.
However, Disney could not buy everything. For example, Disney already owned ABC. A rule from the FCC (a government agency) stops one company from owning too many big TV networks. So, Fox's main TV network and local TV stations stayed with the "New Fox" company. Also, Fox News and the national parts of Fox Sports remained.
In 2018, it was decided that Lachlan Murdoch would lead this new Fox company. Disney's offer to buy parts of Fox increased to $71.3 billion. This helped stop another company, Comcast, from trying to buy them.
By early 2019, the new Fox Corporation was ready. On March 19, 2019, Fox Corporation officially started trading its shares. This means people could buy and sell parts of the company. A politician named Paul Ryan also joined Fox Corporation's board. Disney plans to stop using the "Fox" brand name for the parts it bought by 2024.
First Steps as a New Company
Fox Corporation began working on its own on March 19, 2019. Lachlan Murdoch, the CEO, met with employees. He said that employees would get company shares based on how long they had worked there.
In May 2019, Fox Sports bought a small part of a Canadian online betting company. They planned to create sports betting products together called Fox Bet.
In July 2019, Fox Entertainment created a new unit called SideCar. This unit was meant to develop new TV shows and content.
Later in 2019, Fox Corporation bought Credible Labs and an animation studio called Bento Box Entertainment. Bento Box Entertainment makes animated shows.
In April 2020, Fox Corporation bought the streaming service Tubi for $440 million. Tubi lets people watch TV shows and movies online for free.
In September 2021, Fox Corporation bought TMZ. TMZ is a popular entertainment news company. It became part of the Fox Entertainment division.
In December 2021, Fox Corporation bought MarVista Entertainment. This company makes films and TV shows.
In September 2022, Fox Corporation started Fox Entertainment Studios. This was their first time making TV shows completely in-house. Their first show was called Monarch. Fox also said it would start selling its shows to other countries.
What Fox Corporation Owns
Fox Corporation owns many media and broadcasting businesses. These were once part of 21st Century Fox. Some of its main assets include:
- Fox Broadcasting Company: This is the main Fox TV network.
- Fox Television Stations: These are the local TV stations owned by Fox.
- Fox News Media: This includes news channels like Fox News.
- Fox Sports Media Group: This includes sports channels like Fox Sports.
- Tubi Media Group: This is the streaming service Tubi.
See also
In Spanish: Fox Corporation para niños
