When discussing the media landscape in the United States, Fox News remains one of the most prominent and influential entities. To understand who truly controls this media giant, we must look at the corporate structure of its parent organization, Fox Corporation.
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The Parent Organization: Fox Corporation
Fox News is a subsidiary of Fox Corporation (NASDAQ: FOX, FOXA). Unlike some media conglomerates that have merged with larger entertainment studios, Fox Corporation operates as a standalone public company. It was formed following the 2019 acquisition of 21st Century Fox by The Walt Disney Company. While Disney absorbed the film and television studio assets, the remaining assets—primarily news and sports—were spun off into the entity we know today as Fox Corporation.
The Murdoch Family Influence
While Fox Corporation is a publicly traded company, it is heavily influenced by the Murdoch family through a dual-class stock structure. This structure ensures that the family maintains significant voting control over the company’s direction.
- Rupert Murdoch: The media mogul who built the Fox empire and served as its longtime leader.
- Lachlan Murdoch: Currently serving as the Executive Chair and CEO of Fox Corporation. He is the primary figure steering the company’s strategic vision today.
Through a family trust, the Murdochs hold a controlling stake in the voting shares of Fox Corporation. This means that while public shareholders own the equity, the family retains the ultimate say in leadership decisions, editorial direction, and corporate policy.
What Does Fox Corporation Own?
Fox News is the crown jewel of the company’s portfolio, but Fox Corporation’s reach extends further. Its primary assets include:
- Fox News Media: Including Fox News Channel, Fox Business Network, and Fox News Digital.
- Fox Sports: Holding broadcast rights for major sporting events, including the NFL, MLB, and various collegiate sports.
- Fox Broadcasting Company: The national television network.
- Tubi: A popular ad-supported video-on-demand service.
In summary, Fox News is owned by Fox Corporation. While it operates as a public company with shares traded on the stock market, the Murdoch family remains the dominant force behind the scenes. Through their concentrated voting power, they continue to exert direct influence over the network’s operations, making them the central figures in the ongoing legacy of the Fox brand.
