All articles tagged with #fox corporation
Fox Corporation is launching Fox One, a new streaming service on August 21 that offers live and on-demand access to Fox's news, sports, and entertainment content for $19.99/month or $199.99/year, targeting cord-cutters and cord-never audiences, and includes access to NFL and MLB games aired on Fox networks.
Fox Corporation has acquired a one-third stake in Penske Entertainment, including INDYCAR and Indianapolis Motor Speedway, and extended its media rights deal, signaling a new era of growth with innovative events, digital expansion, and increased promotion for the series, which has seen rising viewership and attendance.
Rupert Murdoch, the 93-year-old media mogul, married retired molecular biologist Elena Zhukova in a vineyard ceremony in Bel-Air, California. This marks Murdoch's fifth marriage. He recently stepped down as chairman of Fox Corporation and News Corp, passing the leadership to his son Lachlan, but remains active as chairman emeritus.
Fox Corporation must face Smartmatic's $2.7 billion defamation suit, as ruled by a New York judge, while Smartmatic must also face Fox's counterclaims alleging the defamation claims are intended to suppress free speech. The judge denied Fox's motion to dismiss the defamation claims, stating that Corp. employees played an affirmative role in the publication of the defamation and acted with malice. However, the judge also denied Smartmatic's motion to dismiss Fox's counterclaims, which argue that the defamation claims were designed to quell free speech. This legal battle is part of at least eleven ongoing lawsuits over election conspiracy theories, and Fox Corp. is preparing to defend the case in trial, likely in 2025.
A New York judge ruled that Smartmatic's defamation lawsuit against Fox Corporation, parent company of Fox News, can proceed, dealing a blow to Fox's leadership. The lawsuit stems from Fox's repeated airing of 2020 election lies, with the judge finding that Smartmatic's case is strong enough to proceed against the parent company. Smartmatic is seeking over $2 billion in damages and the case is still in the discovery phase, with major depositions taking place. The judge also allowed Fox News to continue its counterclaims against Smartmatic, alleging that Smartmatic's damages request is an attempt to silence the network's free-speech rights.
A New York judge has allowed Smartmatic's $2.7 billion lawsuit against Fox Corporation to proceed, rejecting the network's attempt to dismiss the case. The judge also refused to dismiss Fox's counterclaim against Smartmatic, stating that the damages claim may be designed to chill the network's First Amendment rights. Smartmatic alleges that Rupert Murdoch and Lachlan Murdoch played a role in broadcasting defamatory statements, while Fox argues that the damages claim is implausible and disconnected from reality. The case is expected to go to trial in 2025.
Rupert Murdoch's decision to step back from day-to-day oversight of his media empire has paved the way for his son, Lachlan, to take sole control of the businesses. However, the question of who will control the trust that votes the family's shares after Rupert Murdoch's passing remains unanswered. Speculation suggests that Rupert Murdoch may be preparing for another attempt to merge Fox Corporation and News Corp, a move he backed away from last year. Any potential merger would likely be preceded by a sale of parts of News Corp, including its real estate business. The media industry is undergoing significant shifts, and the Murdochs have shown a willingness to consider various options, including a sale, to ensure the future success of their businesses.
Lachlan Murdoch, the eldest son of media mogul Rupert Murdoch, has been named the new chairman of Fox Corporation and News Corporation, taking over his father's media empire. Lachlan's ascension was expected, as he has been co-chairing both companies and serving as CEO of Fox News. Rupert Murdoch will continue to serve on the boards as chairman emeritus. The Murdoch family's wealth and their behind-the-scenes feuding have made them a subject of intrigue. Lachlan's brother James broke with the company in 2020, while his sister Elisabeth often felt overshadowed. Lachlan has overseen Fox News during a period of misinformation, and Rupert signaled that the network's right-wing editorial stance will continue under Lachlan's leadership.
Rupert Murdoch, the 92-year-old media mogul, has announced his resignation as chairman of Fox Corporation and News Corp. His son, Lachlan Murdoch, will take over as sole chairman of both companies. Rupert Murdoch, who entered the newspaper business in the 1950s, became a prominent figure in Hollywood and the TV industry. Fox News, launched in 1996, grew to become the top cable news channel in America known for its Republican talking points and misinformation.
New York City's pension funds have filed a lawsuit against Fox Corporation and its board, accusing the company of neglecting its duty to shareholders by repeatedly broadcasting falsehoods about the 2020 presidential election. The lawsuit, filed in the Delaware Court of Chancery, alleges that Fox knowingly amplified false claims about election rigging, exposing itself to defamation lawsuits. The pension funds, representing nearly 800,000 workers and worth $253 billion, argue that Fox's executives and board have failed to take action to minimize the risk of defamation litigation. The State of Oregon has also joined the lawsuit. Fox settled a defamation lawsuit brought by Dominion Voting Systems in April for $787.5 million and faces a similar lawsuit from Smartmatic.
Fox Corporation's top lawyer, Viet Dinh, is stepping down following the company's $787 million settlement with Dominion Voting Systems. Dinh will receive a $23 million cash settlement and continue to serve as a special advisor. He faced criticism for his handling of Dominion's defamation lawsuit against Fox News. Dinh's departure follows the exit of other senior executives and hosts, including Lou Dobbs and Tucker Carlson. Fox has settled multiple high-profile lawsuits related to false election conspiracy theories, with the largest lawsuit from Smartmatic still pending.
Flutter Entertainment and Fox Corporation have announced the closure of sports betting platform FOX Bet, with a phased closure taking place between July and August 2023. Flutter will retain ownership of PokerStars and FanDuel, while Fox will retain the rights to the FOX and FOX Bet brands and plans to launch a new game called FOX Super 6. Fox also holds a 2.5% stake in Flutter and has the option to acquire 18.6% of FanDuel.
Paul Cheesbrough has been appointed as the CEO of the newly created Tubi Media Group at Fox Corporation, which will include all of Fox's stand-alone digital businesses. Farhad Massoudi, founder and CEO of Tubi, will step down but remain with the company through a transition period until the end of June. Cheesbrough previously served as chief technology officer and president of digital for Fox Corporation, where he oversaw the acquisition and management of Tubi.
Farhad Massoudi, founder and CEO of Fox-owned AVOD platform Tubi, is leaving the company as Fox Corporation forms the Tubi Media Group. The new division will be led by Fox Corp. CTO and President of Digital Paul Cheesbrough and will have three lines of business: Tubi Streaming, AdRise, and Fox Digital Platforms Group. Tubi will stay the course, doubling down on the current strategy set by Cheesbrough and Massoudi and further increasing the number of originals, while keeping autonomy within the new Fox business unit.
Fox Corporation's shares dropped over 5% after announcing the departure of top-rated host Tucker Carlson, who drew more than twice the audience of his competitors in the same hour. Carlson's abrupt departure comes less than a week after Fox reached a $787.5 million settlement with Dominion Voting Systems in a $1.6 billion defamation case over the network's coverage of the 2020 presidential election. Carlson is also facing allegations from a former employee about the network's "toxic" work environment.