Fox Corporation

Fox Corporation operates the Fox broadcast network, local television stations, Fox Sports, Fox News and the ad-supported Tubi streaming service. Its Nasdaq share classes trade as FOXA and FOX. Advertising and distribution payments are its main revenue sources.

September-quarter results

Fiscal Q1 2027 ended September 30, 2026. Amounts below are USD millions. Net income is attributable to Fox shareholders, excluding minority interests.

Television generated $934 million of adjusted EBITDA, ahead of cable’s $859 million. The year-earlier figures were $399 million and $800 million. This segment profit measure excludes interest, taxes and charges that spread the cost of long-lived assets over time, as well as certain other costs and gains.

The World Cup, political advertising and Tubi drove advertising growth. The tournament had already benefited the June quarter. Distribution revenue also grew through contract rates and subscribers.

Cash, borrowing and repurchases

September cash was $4.536 billion, up from $4.205 billion at June 30. Borrowings had a carrying amount of $6.607 billion. Fox made no repurchases in the September quarter; $3.4 billion remained under its authorization.

Roku acquisition remains pending

Under the June 14 agreement, Fox would pay $96 in cash and 0.9693 Fox Class A shares for each Roku share, subject to adjustments under the agreement. Both companies obtained shareholder approval in October; U.S. antitrust clearance remains outstanding.

Fox expects to use cash and debt for the cash portion. At September 30, $11 billion of bridge financing commitments was available, alongside a separate $1 billion term loan commitment. The term loan was undrawn, and these commitments are separate from reported borrowings.