Who Owns Fox News?

2021-05-20

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Fox News is a prominent American news and opinion channel that has been a significant player in the media landscape for over two decades. Its ownership structure and the individuals or entities behind it often raise questions among viewers, especially considering its influence on public opinion and political discourse. This article aims to provide a comprehensive overview of Fox News's ownership history, current ownership structure, and the individuals and companies involved in its operation.

Fox News was founded by Rupert Murdoch, an Australian-born American media mogul who has built a vast media empire that includes newspapers, television networks, and film studios. Through his company, News Corporation, Murdoch launched Fox News in 1996 as a conservative-leaning alternative to the perceived liberal bias of other major news networks. The channel quickly gained popularity, particularly among Republican viewers and politicians, and became a significant player in shaping public opinion. In 2013, News Corporation was divided into two separate entities: 21st Century Fox, which housed Fox News and other entertainment assets, and News Corp, which focused on print media.

In 2019, 21st Century Fox was acquired by The Walt Disney Company in a $71.3 billion deal. However, the transaction excluded Fox News, Fox Business Network, and several other assets, which were spun off into a new publicly traded company called Fox Corporation.

Who Owned Fox News

Media Empire of Rupert Murdoch.

Founded in 1996 by Rupert Murdoch.
Owned by News Corporation until 2013.
Part of 21st Century Fox from 2013 to 2019.
Acquired by The Walt Disney Company in 2019.
Fox News spun off into Fox Corporation in 2019.
Currently owned by Fox Corporation.

Fox News is a major American news and opinion channel known for its conservative-leaning perspective. Its ownership history reflects the changing landscape of the media industry, from the dominance of individual media moguls to the consolidation of power in large corporations.

Founded in 1996 by Rupert Murdoch.

Rupert Murdoch, an Australian-born American media mogul, is known for building a vast media empire that encompasses newspapers, television networks, and film studios. In 1996, he recognized the need for a conservative-leaning news channel to counterbalance the perceived liberal bias of other major news networks. With this vision, he launched Fox News Channel (FNC) on October 7, 1996.

Murdoch's decision to create Fox News was strategic and well-timed. The 1990s witnessed a growing dissatisfaction among conservative viewers with the coverage provided by established news networks. Murdoch saw an opportunity to cater to this segment of the audience by providing news and commentary that aligned with their political and social views.

Fox News quickly gained popularity among Republican viewers and politicians. Its primetime lineup of opinion hosts, such as Bill O'Reilly, Sean Hannity, and Glenn Beck, became household names. The channel's coverage of political events and issues often favored conservative perspectives and criticized liberal policies, contributing to its reputation as a right-leaning news source.

Under Murdoch's ownership, Fox News became a significant player in shaping public opinion and political discourse. Its influence was particularly evident during the 2000 presidential election, where the network's coverage was credited with helping to secure the victory of George W. Bush. Fox News's success also contributed to Murdoch's growing wealth and influence in the media industry.

In 2013, News Corporation, Murdoch's media conglomerate, was divided into two separate entities: 21st Century Fox, which housed Fox News and other entertainment assets, and News Corp, which focused on print media. This move was seen as a strategic decision to streamline the company's operations and address concerns about its size and influence.

Owned by News Corporation until 2013.

During the period of News Corporation's ownership, Fox News solidified its position as a dominant force in American news media. The channel's ratings continued to climb, and its influence on public opinion and political discourse grew even stronger. Fox News became known for its aggressive coverage of political issues, its strong support for conservative politicians, and its willingness to challenge conventional wisdom.

However, News Corporation's ownership of Fox News was not without controversy. The network faced accusations of bias, particularly during the 2008 presidential election, where its coverage was seen as favoring Republican candidate John McCain over Democratic candidate Barack Obama. Fox News also came under fire for its coverage of the Iraq War and its role in promoting the Bush administration's policies.

In 2011, News Corporation became embroiled in a phone hacking scandal involving its British newspaper, News of the World. The scandal led to a public outcry and a parliamentary inquiry in the United Kingdom. Murdoch was forced to close down News of the World and faced calls for his resignation from various quarters.

The phone hacking scandal had a significant impact on News Corporation and its various media properties, including Fox News. In 2013, Murdoch made the decision to divide News Corporation into two separate entities: 21st Century Fox, which housed Fox News and other entertainment assets, and News Corp, which focused on print media. This move was seen as an attempt to distance Fox News from the scandal and protect its reputation.

The separation of News Corporation and Fox News marked the end of an era in the history of the conservative news channel. However, Fox News remained a powerful and influential player in the media landscape, and its ownership structure would continue to evolve in the years to come.

Part of 21st Century Fox from 2013 to 2019.

In 2013, following the division of News Corporation, Fox News became part of 21st Century Fox, a new publicly traded company that housed Fox's entertainment assets, including its film studio, television networks, and cable channels. This move was seen as a way to streamline the company's operations and focus on its core businesses.

During this period, Fox News continued to be a dominant force in American news media. Its ratings remained high, and its influence on public opinion and political discourse remained strong. The channel played a significant role in the 2016 presidential election, providing extensive coverage of Donald Trump's campaign and often serving as a platform for his views.

However, Fox News also faced criticism during this time. The network was accused of promoting conspiracy theories and spreading misinformation, particularly during its coverage of the COVID-19 pandemic. Some critics also argued that Fox News's coverage of political issues was biased in favor of the Republican Party and President Trump.

Despite these criticisms, Fox News remained a popular and profitable news channel. Its ratings continued to grow, and it maintained its position as one of the most-watched cable news networks in the United States.

Acquired by The Walt Disney Company in 2019.

In 2019, The Walt Disney Company, a global entertainment and media conglomerate, acquired 21st Century Fox in a landmark deal valued at $71.3 billion. This acquisition brought together two of the world's largest media companies and significantly expanded Disney's portfolio of entertainment assets.

Exclusion of Fox News and Other Assets

However, the Disney-Fox deal specifically excluded Fox News, Fox Business Network, Fox Sports, and several other assets. These assets were spun off into a new publicly traded company called Fox Corporation, which became the successor to 21st Century Fox.
Strategic Considerations

Disney's decision to exclude Fox News and other assets from the acquisition was driven by several strategic considerations. Disney is known for its family-friendly content and entertainment brands, and the inclusion of Fox News, with its often controversial and politically charged programming, could have damaged Disney's reputation and alienated some of its core audience.
Regulatory Concerns

There were also regulatory concerns surrounding the acquisition. The US Department of Justice expressed antitrust concerns about the combined company's dominance in the media industry. Excluding Fox News and other assets helped to address these concerns and smooth the regulatory approval process.
Diversification of Fox Corporation

For Fox Corporation, the spin-off of its news and sports assets allowed it to focus on its core businesses, including its film studio, broadcast networks, and cable channels. This move also gave Fox Corporation more flexibility to pursue its own strategic initiatives and partnerships.

The acquisition of 21st Century Fox by Disney was a major event in the media industry, and the exclusion of Fox News and other assets was a significant part of the deal. This move allowed Disney to expand its entertainment empire while maintaining its family-friendly image, while Fox Corporation was able to focus on its core businesses and pursue its own strategic goals.

Fox News spun off into Fox Corporation in 2019.

As part of the Disney-Fox deal, Fox News, Fox Business Network, Fox Sports, and several other assets were spun off into a new publicly traded company called Fox Corporation. This move was completed on March 21, 2019, and Fox Corporation began trading on the Nasdaq stock exchange under the ticker symbol "FOXA."

The spin-off of Fox News and other assets allowed Fox Corporation to focus on its core businesses, which include its film studio, broadcast networks (Fox Broadcasting Company and Fox Television Stations), and cable channels (such as Fox News, Fox Sports, and National Geographic). This move also gave Fox Corporation more flexibility to pursue its own strategic initiatives and partnerships.

Fox Corporation is led by Lachlan Murdoch, the eldest son of Rupert Murdoch. Lachlan Murdoch serves as the company's Executive Chairman and Chief Executive Officer. Other key executives include John Nallen, Chief Operating Officer; Paul Cheesbrough, Chief Financial Officer; and Dana Walden, Chairman of Entertainment.

Since its spin-off, Fox Corporation has continued to be a major player in the media industry. Fox News remains the most-watched cable news network in the United States, and Fox Corporation's other assets, such as Fox Sports and its film studio, have also performed well.

The spin-off of Fox News into Fox Corporation was a significant event in the history of the conservative news channel. It marked the end of Rupert Murdoch's direct ownership of Fox News and opened up a new chapter for the company under the leadership of Lachlan Murdoch.

Currently owned by Fox Corporation.

Fox News is currently owned by Fox Corporation, a publicly traded company that was spun off from 21st Century Fox in 2019. Fox Corporation is led by Lachlan Murdoch, the eldest son of Rupert Murdoch, who served as the Executive Chairman and Chief Executive Officer of the company until his resignation in 2022.

Majority Shareholder

Fox Corporation is controlled by the Murdoch family through a voting trust that holds a majority of the company's voting shares. This structure ensures that the Murdoch family maintains control over Fox News and other assets, even though they do not own a majority of the company's outstanding shares.
Board of Directors

The Fox Corporation Board of Directors is responsible for overseeing the company's operations and strategic direction. The board is composed of a mix of Murdoch family members and independent directors with experience in various industries.
Management Team

The Fox Corporation management team is led by CEO Dana Walden, who previously served as Chairman of Entertainment for Disney Television Studios and ABC Entertainment. Other key executives include John Nallen, Chief Operating Officer; Paul Cheesbrough, Chief Financial Officer; and Jay Wallace, President of Fox News Media.
Shareholders

Fox Corporation is a publicly traded company, and its shares are owned by a wide range of investors, including institutional investors, mutual funds, and individual shareholders. The Murdoch family remains the largest shareholder, but they do not have a majority stake in the company.

Fox Corporation's ownership structure is designed to ensure that the Murdoch family maintains control over Fox News and other assets, while also providing the company with access to capital and expertise from a diverse group of shareholders and executives.

FAQ

Here are some frequently asked questions about the ownership of Fox News:

Question 1: Who currently owns Fox News?
Answer 1: Fox News is currently owned by Fox Corporation, a publicly traded company that was spun off from 21st Century Fox in 2019.

Question 2: Who controls Fox Corporation?
Answer 2: Fox Corporation is controlled by the Murdoch family through a voting trust that holds a majority of the company's voting shares.

Question 3: Who is the CEO of Fox Corporation?
Answer 3: The CEO of Fox Corporation is Dana Walden.

Question 4: Who is the Chairman of the Fox Corporation Board of Directors?
Answer 4: The Chairman of the Fox Corporation Board of Directors is Rupert Murdoch.

Question 5: Is Fox News a publicly traded company?
Answer 5: Yes, Fox Corporation, the parent company of Fox News, is a publicly traded company. Its shares are traded on the Nasdaq stock exchange under the ticker symbol "FOXA."

Question 6: Who are the major shareholders of Fox Corporation?
Answer 6: The major shareholders of Fox Corporation include the Murdoch family, institutional investors, mutual funds, and individual shareholders.

Question 7: What is the Murdoch family's stake in Fox Corporation?
Answer 7: The Murdoch family owns a majority of the voting shares of Fox Corporation, but they do not own a majority of the company's outstanding shares.

Question 8: Why did Fox News get spun off from 21st Century Fox?
Answer 8: Fox News was spun off from 21st Century Fox as part of Disney's acquisition of 21st Century Fox in 2019. The spin-off was necessary to address regulatory concerns and allow Disney to focus on its core entertainment assets.

These are just some of the frequently asked questions about the ownership of Fox News. For more information, please visit the Fox Corporation website.

In addition to the FAQ, here are a few tips for staying informed about the ownership of Fox News and other media companies:

Tips

Here are a few tips for staying informed about the ownership of Fox News and other media companies:

Tip 1: Check the company's website.
Most media companies have a section on their website that discloses their ownership structure. This information is usually found in the "About Us" or "Investor Relations" section of the website.

Tip 2: Read news articles and reports about media ownership.
There are many news organizations and media watchdogs that report on the ownership of media companies. These articles and reports can provide valuable insights into the individuals and entities that control these companies.

Tip 3: Follow journalists and experts who cover media ownership.
There are a number of journalists and experts who specialize in covering media ownership. Following these individuals on social media or subscribing to their newsletters can help you stay up-to-date on the latest developments in this area.

Tip 4: Be skeptical of claims about media bias.
There is often a lot of debate about whether or not media companies are biased. When you encounter claims about media bias, it's important to be skeptical and consider the source of the information. Look for evidence to support the claims and be aware of your own biases as well.

By following these tips, you can stay informed about the ownership of Fox News and other media companies. This information can help you make more informed decisions about the news and information you consume.

In conclusion, the ownership of Fox News has changed hands several times over the years, but it remains a powerful and influential news channel. By understanding who owns Fox News and other media companies, you can better understand the perspectives and biases that may be present in their coverage.

Conclusion

The ownership of Fox News has been a topic of significant interest and debate over the years. From its founding by Rupert Murdoch in 1996 to its current status as part of Fox Corporation, the network has undergone several changes in ownership structure and leadership.

Throughout its history, Fox News has been known for its conservative-leaning perspective and its influence on public opinion and political discourse. The network's ownership has played a role in shaping its editorial direction and coverage of various issues.

In recent years, Fox News has faced criticism for its perceived bias and the spread of misinformation, particularly during the COVID-19 pandemic. Despite these criticisms, the network remains a popular and profitable news channel with a large audience.

Ultimately, the ownership of Fox News is a complex issue that involves a variety of factors, including the Murdoch family's control, the role of the Board of Directors, and the influence of major shareholders. By understanding who owns Fox News and other media companies, we can better understand the perspectives and biases that may be present in their coverage.

It is important to stay informed about the ownership of media companies and to be critical of the information they present. By doing so, we can make more informed decisions about the news and information we consume and hold these companies accountable for their actions.