Fox Corporation (FOXA) Stock Analysis

Fox Corporation’s primary competitive edge lies in its focused portfolio of live news and sports, which consistently deliver large, real-time audiences. Fox News is the most-watched cable news channel, capturing over 60% of the cable news audience and ranking as the #2 or #3 network in all of U.S. television during key periods. This dominance translates into pricing power: Fox News’ cost per thousand impressions (CPM) is roughly half that of broadcast peers, attracting a broad base of advertisers, including over 350 new national clients in the past year.

In sports, Fox holds long-term rights to the NFL, MLB, and college football, ensuring relevance and bargaining leverage with distributors. Major events such as the Super Bowl and World Cup drive record viewership (e.g., 128 million for Super Bowl LIX) and advertising revenue (over $800 million for the 2025 Super Bowl).

Fox’s digital platform, Tubi, is a fast-growing, ad-supported streaming service with over 100 million monthly active users—65% of whom are “cordless.” Tubi’s 27% revenue growth and recent profitability position Fox to capture shifting ad dollars as linear TV declines, outpacing rivals like Paramount’s Pluto TV and Comcast’s Peacock in both scale and growth.

Relative to diversified peers (Disney, Paramount, Comcast), Fox’s disciplined focus on live content and avoidance of costly scripted streaming has preserved margins and free cash flow, supporting aggressive capital returns and a strong balance sheet.