Fox Bundle
Who Owns Fox Corporation?
Fox Corporation, a prominent media entity, was established in 2019 after a significant asset sale. This strategic move separated its entertainment studios from its news, sports, and broadcast television divisions.
The company's leadership and strategic direction are heavily influenced by its ownership, with the Murdoch family maintaining substantial control. Understanding this structure is key to grasping the company's market position and future endeavors.
The Murdoch family's enduring influence is a central theme in understanding Fox Corporation's trajectory. Their continued stake and voting power significantly shape the company's operational and strategic decisions, impacting its performance and market standing. A Fox PESTEL Analysis can further illuminate the external factors influencing this dynamic.
Who Founded Fox?
Fox Corporation officially began its operations on March 19, 2019, following a significant spin-off from 21st Century Fox. This strategic move separated the company's television broadcasting, news, and sports divisions. Rupert Murdoch, a prominent figure in the media industry, was the driving force behind the establishment of this new entity, with his son, Lachlan Murdoch, taking on key leadership roles.
| Founder & Architect | Rupert Murdoch |
| Initial Executive Chairman & CEO | Lachlan Murdoch |
| Date of Formation | March 19, 2019 |
| Key Assets Spun Off | Television broadcasting, news, and sports |
Rupert Murdoch's Vision
Rupert Murdoch orchestrated the creation of Fox Corporation, shaping its initial structure and strategic direction. His long-standing influence in the media landscape was instrumental in this transition.
Lachlan Murdoch's Leadership
Lachlan Murdoch was appointed as the Executive Chair and Chief Executive Officer, playing a vital role in the company's formation and ongoing operations. He continues to lead the company as Chairman of Fox Corporation.
Murdoch Family Control
The Murdoch family maintains significant control over Fox Corporation through a family trust. This trust holds a substantial ownership stake, ensuring continued influence over the company's decisions.
Dual-Class Share Structure
A dual-class share system is in place, with Class B shares granting superior voting rights over Class A shares. This structure reinforces the family's voting power and control.
Voting Power Dynamics
The Murdoch family trust commands nearly 40% of the voting power. This significant percentage underscores their ability to influence corporate governance and strategic initiatives.
Rupert Murdoch's Evolving Role
Following his stepping down in September 2023, Rupert Murdoch transitioned to the role of Chairman Emeritus. This move solidified Lachlan Murdoch's position as the sole chairman for both Fox Corporation and News Corp.
The initial ownership structure of Fox Corporation was meticulously designed to preserve the Murdoch family's influence. The family trust, holding approximately 39.6% of the ownership shares, also commands nearly 40% of the voting power. This control is primarily exercised through a dual-class share system, where Class B shares possess greater voting rights than Class A shares. Rupert Murdoch's substantial stake and ongoing influence were central to this arrangement. After stepping down in September 2023, he assumed the title of Chairman Emeritus, while Lachlan Murdoch became the sole chairman for both Fox Corporation and News Corp, reflecting the founding family's vision for sustained control and strategic direction.
Key Ownership Details
The Murdoch family's control over Fox Corporation is a defining characteristic of its ownership structure. This control is maintained through a family trust and a dual-class share system.
- Murdoch family trust holds approximately 39.6% of ownership.
- Murdoch family controls nearly 40% of voting power.
- Dual-class share structure (Class A and Class B) dictates voting rights.
- Lachlan Murdoch serves as Executive Chair and CEO, and Chairman of Fox Corporation and News Corp.
- Rupert Murdoch is Chairman Emeritus.
- This structure ensures continued family influence over strategic decisions.
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How Has Fox’s Ownership Changed Over Time?
Since its inception in 2019, Fox Corporation's ownership has been notably stable, with the Murdoch family maintaining a significant controlling interest. The company's public trading debut on the S&P 500 in March 2019 marked a new chapter in its corporate structure.
| Share Class | Shares Outstanding (as of June 30, 2025) | Voting Power |
|---|---|---|
| Class A Common Stock | 209,954,934 | 1 vote per share |
| Class B Common Stock | 235,581,025 | 10 votes per share |
The Murdoch family, through the Murdoch Family Trust, is the primary stakeholder, holding approximately 39.6% of the company's voting shares. This substantial voting power ensures their continued influence over key corporate decisions, solidifying their position as the majority owner of Fox Corporation. Beyond the family's direct holdings, institutional investors play a crucial role in the company's shareholder base. As of August 20, 2025, these entities collectively held about 149.99 million shares of Class B Common Stock, as indicated by their filings with the SEC.
Key Institutional Shareholders
Major institutional investors hold significant stakes in Fox Corporation, influencing market dynamics and corporate governance.
- Vanguard Group Inc. held 14,926,968 shares as of June 30, 2025.
- BlackRock, Inc. owned 11,204,680 shares as of the same date.
- State Street Corp. possessed 10,809,862 shares.
- Other notable investors include Dodge & Cox and State Of Wisconsin Investment Board.
The dual-class share structure, while granting the Murdoch family significant voting control, means institutional investors' direct voting impact is comparatively limited. Nevertheless, their substantial holdings in Fox media conglomerate are important. Fox Corporation's financial standing is robust, with total assets reaching US$21.97 billion and total equity at US$10.71 billion for the fiscal year 2024. Understanding the Growth Strategy of Fox requires acknowledging this ownership structure. The question of who owns Fox News Channel and the Fox Broadcasting Company owner is directly tied to the Murdoch family's controlling interest.
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Who Sits on Fox’s Board?
The current board of directors for Fox Corporation is a blend of family representatives and independent members, reflecting its governance approach. Lachlan Murdoch holds the positions of Executive Chair and Chief Executive Officer, directly managing the company's diverse media assets.
| Director Name | Role | Key Affiliation/Background |
|---|---|---|
| Lachlan Murdoch | Executive Chair and CEO | Oversees company operations |
| Chase Carey | Lead Independent Director | |
| Roland A. Hernandez | Director | |
| Margaret “Peggy” L. Johnson | Director | |
| William A. Burck | Director | |
| Paul Ryan | Director | |
| Tony Abbott AC | Director | Former Prime Minister of Australia (elected Nov 2023) |
The voting power within Fox Corporation is significantly influenced by a dual-class share system. Class A shares are available to the public and have limited voting rights, whereas Class B shares carry superior voting rights. The Murdoch Family Trust, by holding a substantial number of Class B shares, maintains considerable control, effectively granting the family approximately 40% of the total voting power. This structure ensures that the Murdoch family, led by Lachlan Murdoch, retains significant influence over key strategic decisions and the company's direction. In fiscal year 2024, the board convened five meetings, with all directors achieving an attendance rate of at least 75%. The company's 2024 Proxy Statement, anticipated around September 26, 2024, will detail the election of seven director nominees for the fiscal year ending June 30, 2025. There have been board adjustments, such as Anne Dias's departure in late 2023, following reported concerns regarding news coverage.
Fox Corporation's Governance and Control
Fox Corporation's ownership structure is heavily influenced by its dual-class share system, concentrating voting power within the Murdoch family. This allows for consistent strategic direction across its media assets.
- Lachlan Murdoch leads as Executive Chair and CEO.
- The Murdoch Family Trust holds significant voting power through Class B shares.
- Dual-class shares differentiate voting rights between public and family holdings.
- Board attendance rates in FY2024 exceeded 75% for all directors.
- Understanding Revenue Streams & Business Model of Fox is key to appreciating its operational control.
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What Recent Changes Have Shaped Fox’s Ownership Landscape?
Recent years have seen significant shifts in the leadership and financial strategies of Fox Corporation. A key development was Rupert Murdoch stepping down as Chairman in September 2023, with his son Lachlan Murdoch assuming sole chairmanship of both Fox Corporation and News Corp, solidifying family control.
| Event | Date | Significance |
|---|---|---|
| Rupert Murdoch steps down as Chairman | September 2023 | Lachlan Murdoch becomes sole Chairman, consolidating leadership. |
| Share repurchase program boost | August 2025 | Increased authorization to $12 billion, reflecting capital return strategy. |
| Fiscal Year 2025 Revenue | FY2025 | $16.30 billion, a 17% increase year-over-year. |
| Fiscal Year 2025 Net Income | FY2025 | $2.29 billion, a 48% increase year-over-year. |
| Tubi Acquisition | 2020 | Expansion into streaming for approximately $440 million. |
| Fox One DTC launch | August 2025 | Further expansion into direct-to-consumer streaming. |
Fox Corporation has demonstrated a commitment to returning capital to shareholders, notably through substantial share buyback programs. As of June 30, 2024, the company had repurchased over $5.6 billion worth of stock since November 2019. The company further enhanced its capital management by announcing a $5 billion increase to its share repurchase program in August 2025, bringing the total authorization to $12 billion. This financial maneuver, alongside a semi-annual dividend of $0.28 per share payable in September 2025, highlights a strategy focused on shareholder value. The company's robust financial performance in fiscal year 2025, with revenues reaching $16.30 billion and net income at $2.29 billion, provides a strong foundation for these capital allocation decisions and ongoing investments in digital platforms like Tubi and the upcoming Fox One streaming service. These developments occur within a broader media landscape characterized by a significant shift towards streaming, influencing the Marketing Strategy of Fox.
Leadership Transition
Rupert Murdoch transitioned to Chairman Emeritus in September 2023. Lachlan Murdoch now holds the sole chairmanship of Fox Corporation and News Corp.
Shareholder Returns
The company has actively repurchased shares, with a $12 billion authorization in place. Fiscal 2024 saw approximately $1 billion in repurchases.
Financial Performance
Fiscal year 2025 reported total revenues of $16.30 billion, a 17% increase. Net income rose by 48% to $2.29 billion.
Digital Expansion
The acquisition of Tubi in 2020 and the planned launch of Fox One underscore a strategic pivot towards streaming services.
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