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Lachlan Murdoch Sees Momentum Building At Fox News & Stations As Political Cycle Heats Up

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Fox CEO Lachlan Murdoch noted reinvigorated ratings and share growth at Fox News last quarter and said the company is looking at major momentum at the cable news network and at Fox TV stations heading into a newly heated election cycle.

Fox this morning posted a mixed fiscal fourth quarter with total sales of $3.09 billion for the three months ended in June, up 2% from the year before and about in line with Wall Street estimates.

Ad revenue was flat as gains at Fox Sports and Tubi were offset by a dip at the Fox Network. “Tubi continues to go from strength to strength,” Murdoch said on a call after the numbers.

In sports, Fox will see a bump from the Super Bowl in fiscal 2025 — the first under its new NFL contract. Sports ruled the upfront, Murdoch said, which Fox recently concluded with both pricing and volume increases in the annual dance with advertiers. “We came through the upfront above our expectations,” he said, thanks in large part to football and Major League Baseball.

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