We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fox (FOXA) News Digital Rides on Multiplatform Views & Minutes
Read MoreHide Full Article
Fox (FOXA - Free Report) News Digital maintained its position as the leading news organization, surpassing its competitors in terms of multiplatform views and minutes, in May 2023.
CNN.com experienced a significant decline of nearly 20% in both categories from the previous year. Fox News Digital has been the top news brand for eight consecutive months in multiplatform views and 27 consecutive months in multiplatform minutes.
In May, Fox News Digital achieved a total of 3.1 billion multiplatform minutes, 1.6 billion multiplatform views and 88 million multiplatform unique visitors. Fox News Digital was the top news brand with 2.7 average views per visit. Additionally, the Fox News Mobile App reached 6.1 million unique visitors in May.
In addition, Fox Business achieved 271 million multiplatform minutes (a 2% increase from the previous month) and attracted 21.1 million multiplatform unique visitors. Fox Business maintained its position as the most viewed business news channel on YouTube for the 18th consecutive month, with 66.4 million views in May, showing growth from the previous month.
Cox Media Group LLC, Fox and Paramount Global (PARA - Free Report) have collectively agreed to pay $48 million to settle civil antitrust claims in U.S. Court. The claims alleged that the companies conspired to manipulate spot advertising prices on broadcast television.
Cox will pay $37 million to resolve class-action claims, while Fox and CBS will pay $6 million and $5 million, respectively. The terms of the settlement were not initially disclosed when the companies reached agreements in late 2021.
Sinclair, Inc. (SBGI - Free Report) , The E.W. Scripps Company and TEGNA (TGNA - Free Report) are also named as defendants in the litigation. It is important to note that the settling defendants and the companies involved have denied any liability in the matter.
According to the plaintiffs, the broadcaster and advertising sales defendants allegedly engaged in a covert conspiracy to manipulate prices and share sales data. In 2018, the U.S. Justice Department resolved civil antitrust claims against Sinclair and several other broadcast companies.
Fox’s Recent Content to Aid Growth
Shares of FOXA have gained 9.6% year to date compared with the Zacks Consumer & Discretionary sector’s rise of 11.5% over the same time frame.
This Zacks Rank #3 (Hold) company’s new weekend primetime lineup includes The Big Weekend Show, The Next Revolution and Sunday Night in America.
The Zacks Consensus Estimate for FOXA’s fourth-quarter fiscal 2023 earnings is pegged at 71 cents per share, indicating a year-over-year decline of 4.05%. The Zacks Consensus Estimate for revenues is pegged at $3.03 billion, indicating a year-over-year decline of 0.24%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Fox (FOXA) News Digital Rides on Multiplatform Views & Minutes
Fox (FOXA - Free Report) News Digital maintained its position as the leading news organization, surpassing its competitors in terms of multiplatform views and minutes, in May 2023.
CNN.com experienced a significant decline of nearly 20% in both categories from the previous year. Fox News Digital has been the top news brand for eight consecutive months in multiplatform views and 27 consecutive months in multiplatform minutes.
In May, Fox News Digital achieved a total of 3.1 billion multiplatform minutes, 1.6 billion multiplatform views and 88 million multiplatform unique visitors. Fox News Digital was the top news brand with 2.7 average views per visit. Additionally, the Fox News Mobile App reached 6.1 million unique visitors in May.
In addition, Fox Business achieved 271 million multiplatform minutes (a 2% increase from the previous month) and attracted 21.1 million multiplatform unique visitors. Fox Business maintained its position as the most viewed business news channel on YouTube for the 18th consecutive month, with 66.4 million views in May, showing growth from the previous month.
Fox Corporation Price and Consensus
Fox Corporation price-consensus-chart | Fox Corporation Quote
Settlement Claims To Affect FOX’s Bottom Line
Cox Media Group LLC, Fox and Paramount Global (PARA - Free Report) have collectively agreed to pay $48 million to settle civil antitrust claims in U.S. Court. The claims alleged that the companies conspired to manipulate spot advertising prices on broadcast television.
Cox will pay $37 million to resolve class-action claims, while Fox and CBS will pay $6 million and $5 million, respectively. The terms of the settlement were not initially disclosed when the companies reached agreements in late 2021.
Sinclair, Inc. (SBGI - Free Report) , The E.W. Scripps Company and TEGNA (TGNA - Free Report) are also named as defendants in the litigation. It is important to note that the settling defendants and the companies involved have denied any liability in the matter.
According to the plaintiffs, the broadcaster and advertising sales defendants allegedly engaged in a covert conspiracy to manipulate prices and share sales data. In 2018, the U.S. Justice Department resolved civil antitrust claims against Sinclair and several other broadcast companies.
Fox’s Recent Content to Aid Growth
Shares of FOXA have gained 9.6% year to date compared with the Zacks Consumer & Discretionary sector’s rise of 11.5% over the same time frame.
This Zacks Rank #3 (Hold) company’s new weekend primetime lineup includes The Big Weekend Show, The Next Revolution and Sunday Night in America.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for FOXA’s fourth-quarter fiscal 2023 earnings is pegged at 71 cents per share, indicating a year-over-year decline of 4.05%. The Zacks Consensus Estimate for revenues is pegged at $3.03 billion, indicating a year-over-year decline of 0.24%.