Keith Rupert Murdoch, Chairman Emeritus of Fox Corp (NASDAQ:FOXA) (NASDAQ:FOX), recently executed significant stock transactions. On November 25 and 26, Murdoch sold a total of 957,895 shares of Fox Corp Class A common stock, generating approximately $44.2 million. The sales occurred at prices ranging from $46.07 to $46.22 per share.
In addition to the sales, Murdoch exercised stock options, acquiring shares at prices between $26.12 and $40.26, with a total value of $32.9 million. These transactions reflect Murdoch's ongoing management of his holdings in the media giant.
In other recent news, Fox Corporation has reported an impressive start to fiscal 2025 with an 11% increase in revenue to $3.56 billion and a 21% rise in EBITDA, exceeding the $1 billion mark. The company has attributed this robust performance to high audience engagement, especially with FOX News, significant growth in political advertising, and a positive contribution from the sports segment. Despite higher expenses, particularly in programming rights for FOX Sports and costs at Tubi, the company's strategic focus and content portfolio have driven a positive outlook for the fiscal year.
In more detail, Fox Corporation's sports segment saw a significant uptick, with the MLB postseason garnering the highest ratings in years and the NFL broadcasts increasing viewership among younger audiences by 28%. Tubi's revenue climbed by 19%, with expectations to exceed $1 billion for the fiscal year. However, the company also faces challenges due to NFL scheduling and increased sports rights fees.
In terms of future expectations, Fox Corporation anticipates strong advertising revenue post-election, especially in sports and news segments. The company is preparing for the Super Bowl and expects robust pricing for upcoming advertising opportunities. The TV segment is projected to benefit from political advertising and strong performances in FOX News, Tubi, and MLB postseason revenues. These are some of the recent developments for Fox Corporation.
InvestingPro Insights
As Keith Rupert Murdoch adjusts his stake in Fox Corp (NASDAQ:FOX), recent data from InvestingPro sheds light on the company's financial health and market position. Fox Corp's stock has shown remarkable strength, with a 57.79% price total return over the past year and a substantial 61.15% year-to-date return as of the latest data. This performance aligns with an InvestingPro Tip indicating that the stock has seen a "large price uptick over the last six months."
The company's financial metrics reveal a compelling valuation picture. Fox Corp is trading at a P/E ratio of 11.26, which InvestingPro suggests is "low relative to near-term earnings growth." This attractive valuation is further supported by the company's profitability, as highlighted by another InvestingPro Tip stating that Fox has been "profitable over the last twelve months."
Investors considering Fox Corp might also be interested to know that the company "has raised its dividend for 4 consecutive years," according to InvestingPro. With a current dividend yield of 1.23% and a dividend growth rate of 3.85% over the last twelve months, Fox Corp demonstrates a commitment to shareholder returns that complements Murdoch's recent stock transactions.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips on Fox Corp, providing deeper insights into the company's financial position and market outlook.
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