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NEW YORK - Fox Corporation (NASDAQ: FOXA, FOX), currently valued at $21.95 billion, announced today the introduction of FOX One, a new direct-to-consumer streaming platform that aggregates the company’s news, sports, and entertainment content. FOX One aims to provide cord-cutters and cord-nevers with live and on-demand access to a comprehensive portfolio of FOX brands, including FOX News, FOX Business, FOX Weather, FOX Sports, and more. According to InvestingPro data, Fox Corporation maintains a strong financial position with a perfect Piotroski Score of 9, indicating excellent operational efficiency.
Pete Distad, CEO of FOX One, stated that the service is tailored for the company’s loyal audience, offering a direct connection to FOX’s branded content outside of the traditional pay-TV bundle. The platform, built with cutting-edge technology, promises advanced personalization features to enhance user experience by adapting to individual viewing preferences. The company’s strong financial health is reflected in its "GREAT" overall rating from InvestingPro, with liquid assets exceeding short-term obligations and a healthy current ratio of 2.5.
The launch of FOX One is scheduled for the fall, strategically set before the NFL and College Football seasons begin. This move positions the company to capitalize on the high viewership these sports seasons typically attract. Further details and updates on the service can be found on the FOX website.
Fox Corporation is known for producing and distributing content across its well-recognized domestic brands, which include FOX News Media, FOX Sports, FOX Entertainment, and FOX Television Stations. The company’s content holds significant cultural relevance and commercial value, contributing to its strategy of leveraging existing strengths and exploring new initiatives.
This announcement is based on a press release statement from Fox Corporation.
In other recent news, Sirius XM Holdings Inc. announced the appointment of Anjali Sud to its Board of Directors. Sud, who is currently the CEO of Tubi and previously led Vimeo’s transition to a public company, is expected to bring valuable expertise in media and technology to SiriusXM. Her appointment coincides with the resignation of James E. Meyer, Vice Chairman of the Board, who has been with the company since 2004. Meanwhile, Fox Corp CEO Lachlan Murdoch discussed the company’s plans for a new streaming service at a recent conference. The service will be led by Pete Distad, a former Apple TV+ executive, and aims to reach viewers who are moving away from traditional cable bundles. Murdoch highlighted the company’s strategy to use existing technology to distribute content without additional costs. The new service is expected to launch in time for the fall football season, with aspirations to reach mid single-digit millions of subscribers. Fox Nation, another streaming platform by Fox News Channel, has already achieved significant subscriber growth, partly due to content backed by director Martin Scorsese.
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