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As recently as August, Lachlan Murdoch described sports betting as "a huge opportunity" for Fox Sports, telling Wall Street it would fuel viewer engagement. The sports betting app Fox Bet is available in four states, with just 0.2% share of the U.S. market, according to researcher Vixio. A free version called Fox Bet Super 6 has attracted some 6 million users whom Fox hopes to eventually convert to gamblers. The growth of Fox Bet has stagnated since market-leading FanDuel's owner, Flutter Entertainment Plc (FLTRF.L), acquired Stars Group in 2020. The matter is the subject of an arbitration case and Lachlan Murdoch told investors a decision is expected imminently.

☆ Women athletes now have their own sports network
▼ + stars: | 2022-11-02 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +4 min

The first-ever network to focus on female athletes, the Women's Sports Network, launched Wednesday, offering 24/7 streaming of original programming, competitions, documentaries and a daily studio show "Game On." The Women's Sports Network is a free, ad-supported network featured on streaming services including Amazon.com 's Freevee, Fox Corp .'s FuboTV and Tubi, along with smart TVs. The Women's Sports Network has partnerships with the Women's National Basketball Association, Women's Football Alliance, Ladies Professional Golf Association, U.S. Female athletes at the collegiate level are also proving to be winners in the NIL era, garnering deals with brands including Nike now that college athletes can be paid for their name, image and likeness. "The Women's Sports Network is exactly what athletes, fans and sponsors have been asking for," Mollie Marcoux Samaan, commissioner of the Ladies Professional Golf Association, said in a release announcing the network launch.

☆ Paramount Global shares slide as results miss and TV revenue falls
▼ + stars: | 2022-11-02 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Paramount Global on Wednesday reported $6.92 billion in revenue for its third quarter, an increase of 5% year-over-year. Yet the company's results missed expectations as it suffered from cord cutting and a drop in advertising revenue. Advertising revenue for the segment also dropped, a sign that macroeconomic headwinds are beginning to hit. Paramount said advertising revenue for its TV networks was down 3% to about $1.9 billion. The company noted it also restructured some of its international affiliate TV agreements during the quarter, which shifted revenue from pay-TV services to streaming.

☆ Fox Corp beats revenue estimates on political ads demand
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Fox Corp (FOXA.O) reported better-than-expected quarterly revenue on Tuesday, as the Fox News parent benefited from an uptick in advertising spend ahead of the U.S. midterm elections. Fox Corp's revenue was also buoyed by higher affiliate fees and an influx of advertisers to its Tubi streaming service. Fox Corp is also deciding on whether to combine with News Corp (NWSA.O) after the companies said earlier this month that Rupert Murdoch had started a process that could reunite his media empire. Fox Corp's total revenue rose to $3.19 billion in the first quarter ended Sept. 30, from $3.05 billion a year earlier. Advertising revenue increased 8% in the quarter, primarily due to higher political advertising revenue at its TV stations, the company said.

☆ Fox Corp beats quarterly revenue estimates
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Fox Corp (FOXA.O) reported better-than-expected quarterly revenue on Tuesday, as the Fox News parent benefited from an uptick in advertising spend ahead of the U.S. midterm elections. The company's total revenue rose to $3.19 billion in the first quarter ended Sept. 30, from $3.05 billion a year earlier. Analysts were expecting $3.17 billion, according to IBES data from Refinitiv. Reporting by Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Fox Logged Higher Revenue as Political Ads Rolled In
▼ + stars: | 2022-11-01 | by ( Dean Seal | Joe Flint | ) www.wsj.com time to read: 1 min

Fox Corp.’s advertising revenue rose partly from higher political advertising sales at Fox’s television studio and higher prices across the company’s news and sports brands. Fox Corp. Executive Chairman and Chief Executive Lachlan Murdoch touted the value of scale on a call with analysts Tuesday to discuss results for the company’s most recently completed quarter. “Our peers are getting bigger,” Mr. Murdoch said. Scale, he added, lends flexibility in many ways.

☆ Fox earnings lifted by advertising revenue from free streaming service Tubi
▼ + stars: | 2022-11-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Fox Corp .'s bet on its free, ad-supported streaming service Tubi appears to be paying off for the company. On Tuesday, the company reported earnings for its first fiscal quarter, noting that Tubi helped boost its advertising revenue. Fox said its advertising revenue in the quarter was also propelled by political ads leading into the midterm elections. On a call with investors, Murdoch said that Tubi's revenue for the first time surpassed the advertising revenue generated by Fox Entertainment "in a meaningful way." Murdoch called the investment "very modest" when compared with premium subscription streaming services.

☆ Stocks shrug off tech's troubles as the Street awaits key inflation data next week
▼ + stars: | 2022-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ The Fed could lay the groundwork for a year end rally in the week ahead
▼ + stars: | 2022-10-28 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

The coming week is also the busiest of the corporate earnings season, with about a third of the S & P 500 companies releasing results. "Historically, the market waits for the last Fed rate hike to be introduced and then the market climbs higher. The S & P 500 was up more than 8.8% for the month. The Dow was up 5.7% on the week, the S & P 500 was up 5.7% and the Nasdaq was up 2.2%. The 50-day moving average is 3,841 for the S & P 500, and it was well above it Friday afternoon for the second time in the past week.

☆ Trump criticizes PGA Tour, says 'Saudis have done a fantastic job' with LIV
▼ + stars: | 2022-10-27 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Former President Donald Trump stands on the 18th green during the Pro-Am tournament before the LIV Golf series at Trump National Doral, Oct. 27, 2022. He also criticized the PGA Tour. LIV Golf has been fighting to compete with the PGA Tour, even without a media deal. Trump said he thinks the PGA Tour and LIV could work something out. The PGA Tour declined to comment.

☆ Cramer's lightning round: State Street is a buy
▼ + stars: | 2022-10-20 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...State Street Corp : "I think State Street down here at this level is a terrific buy." Loading chart...Fox Corp. Class B : "I don't like the media stocks. The media stocks I do like are Google , Meta and Amazon ." Loading chart...Generac Holdings : "I do not want to touch this one." Disclaimer: Cramer's Charitable Trust owns shares of Alphabet, Meta and Amazon.

☆ EXCLUSIVE Hedge fund Irenic asks Capricorn Energy to ditch NewMed deal
▼ + stars: | 2022-10-19 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The company's stock price closed up 0.25% at 244.60 penceThe NewMed transaction would result in Capricorn being paid a $620 million special dividend. It would also leave them with a 10.3% stake in the combined company, with NewMed shareholders owning 89.7%. A liquidation could value Capricorn's assets at 350 pence per share, versus the 254 pence-per-share valuation in the NewMed deal, according to Irenic. "The company has yet to present shareholders with any proposal that represents superior value relative to the straightforward liquidation value we have assessed," Irenic wrote in the letter. Prior to agreeing on a sale to NewMed, Capricorn scrapped plans to merge with Tullow Oil Plc (TLW.L) in a deal that would have valued Capricorn shares at 210 pence and would have given Capricorn investors 47% of the new entity.

☆ Investor Irenic Capital wants News Corp to split media, real estate units - sources
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Activist investor Irenic Capital Management, which has a $150 million stake in News Corp (NWSA.O), wants the company to split its media and online real estate units, sources familiar with the matter said on Monday. Irenic's push comes after media mogul Rupert Murdoch's proposal last week to reunite his media empire by combining News Corp (NWSA.O) and Fox Corp (FOXA.O), nearly a decade after the companies split. Irenic has sought a meeting with panel from News Corp, sources said, adding the investor would be prepared to oppose a deal if it undervalues the company. Register now for FREE unlimited access to Reuters.com RegisterNews Corp did not immediately respond to a request for comment. It is anchored by REA Group, in which News Corp has a 61.4% stake, which is worth about $5.8 billion.

☆ Wall Street set to open higher as BofA rises on earnings beat
▼ + stars: | 2022-10-17 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

Bank of America Corp (BAC.N) rose 2.8% in premarket trading as the lender benefited from higher net interest income in its third quarter, even though it added $378 million to its loan-loss reserves. Register now for FREE unlimited access to Reuters.com Register"This is a direct result of higher interest rates offered by the banks looking very attractive compared to other risk assets. Bank of NY Mellon Corp (BK.N) also benefited from higher rates, sending its shares up 4.7%. Overall, higher rates boosted interest incomes for lenders in the third quarter but turbulent markets choked off dealmaking and banks set aside more funds to brace for an economic slowdown. Tesla Inc (TSLA.O), Netflix (NFLX.O) and Johnson & Johnson (JNJ.N) are also expected to report results later in the week.

☆ News Corp. stock up, Fox shares down as investors weigh possible merger
▼ + stars: | 2022-10-17 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Shares of News Corp. rose while Fox shares fell Monday as investors weighed the possibility of Rupert Murdoch's media companies recombining nearly decade after they split. The companies had announced Friday that they were exploring a merger, with each News Corp. and Fox saying they formed special committees to explore the possibility. News Corp. has a market capitalization of around $9.45 billion, while Fox Corp. is worth about $14.76 billion. Alphabet has a market cap of $1.32 trillion, Apple's market cap is $2.29 trillion and Amazon's market cap is $1.15 trillion. The source said Irenic would oppose the combination of News Corp. with Fox if the real estate arm remained undervalued.

☆ Stocks making the biggest moves premarket: Continental Resources, Bank of America, Apple and others
▼ + stars: | 2022-10-17 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Bank of America (BAC) – Bank of America jumped 3.1% in premarket trading after beating top and bottom line estimates in its third-quarter earnings report. News Corp. (NWSA), Fox Corp. (FOXA) – News Corp. gained 3.5% in the premarket while Fox Corp. slid 4.1%. Meta Platforms (META) – Meta is falling short of its goals for its flagship metaverse product "Horizon Worlds", according to internal documents seen by the Wall Street Journal. Goldman added 1% in premarket trading. Archaea Energy (LFG) – The natural gas producer's shares soared 51.1% in premarket trading after agreeing to be acquired by BP (BP) for $26 per share.

☆ Here are Monday's biggest analyst calls of the day: Apple, Amazon, Netflix, Kroger, SunPower & more
▼ + stars: | 2022-10-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Monday: Morgan Stanley reiterates Apple as overweight Morgan Stanley named the tech giant as its top pick in a downturn. Cowen reiterates Amazon as outperform Cowen said shares remain attractive heading into earnings later this month. Morgan Stanley resumes Prologis as overweight Morgan Stanley resumed coverage of the supply chain logistics company and named it a top pick. Morgan Stanley upgrades Clorox to equal weight from underweight Morgan Stanley said in its upgrade of Clorox that it sees some earnings upside ahead of the company's earnings later this quarter. Oppenheimer reiterates Chipotle as outperform Oppenheimer says Chipotle is a "rarity" as the firm sees earnings upside among a deteriorating macro.

☆ Stocks making the biggest moves midday: Roblox, Continental Resources, Fox Corp and more
▼ + stars: | 2022-10-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Fox Corp , News Corp — Fox shares dropped 8%, while News Corp gained more than 4% after Rupert Murdoch formed a special committee to explore a possible deal that would put his two media companies back together. Wells Fargo reiterated its equal weight rating on the streaming service ahead of the company's earnings this week. Speculative tech stocks — South American e-commerce stock Mercadolibre surged 11%, while Chinese tech stock Pinduoduo jumped more than 6%. Bank stocks — Several bank stocks moved higher Monday on positive earnings for the sector. Bank of NY Mellon gained 4.9% following its earnings beat and Signature Bank , set to report earnings on Tuesday, jumped 6%.

Oct 14 (Reuters) - Rupert Murdoch started a process that could reunite his media empire, News Corp (NWSA.O) and Fox Corp (FOXA.O) disclosed on Friday, saying they would consider combining at his behest, nearly a decade after the companies split. If a deal goes through, the combination will allow Murdoch greater control over his media assets and help the companies trim costs. Media companies are fighting decades-low growth in advertising sales and for users' attention against deep-pocketed social media and content websites. It make sense, in this context, to reunite Fox and News Corp to create a company with complementary assets and greater scale, the person familiar with the proposal said. His son Lachlan Murdoch is chairman and CEO of Fox Corp.As of market-close on Friday, News Corp had a market cap of $9.31 billion and Fox Corp was $16.84 billion, according to Refinitiv.

☆ Rupert Murdoch considers combining Fox, News Corp - WSJ
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

Oct 14 (Reuters) - Media mogul Rupert Murdoch is exploring a recombination of Fox Corp (FOXA.O) and News Corp (NWSA.O), the Wall Street Journal reported on Friday, according to people familiar with the situation. News Corp and Fox Corp did not immediately respond to Reuters' requests for comment. Special committees have been setup at both companies to study a possible deal and evaluate potential financial terms, according to the report, which said the discussions are at an early stage. Murdoch had split his empire in 2013, housing the publishing business under News Corp and TV and film assets under 21st Century Fox, which eventually became Fox Corp.Register now for FREE unlimited access to Reuters.com RegisterReporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Rupert Murdoch is in the early stages of exploring whether to put his media companies News Corp. and Fox Corp. back together, according to a person familiar with the matter. Fox Corp., the leftovers from the $71.3 billion 21st Century Fox sale to Disney in 2019, owns right wing networks Fox News and Fox Business, which is a CNBC competitor. Murdoch, 91, split Fox and News Corp. in 2013. He is the chairman of Fox and the executive chairman of News Corp. His son Lachlan Murdoch is CEO of Fox and co-executive chairman of News Corp. The Murdoch family has a 42% voting stake in Fox and a 39% voting stake in News Corp., according to the Journal.

☆ Rupert Murdoch is exploring the rejoining of Fox and News Corp into one single company
▼ + stars: | 2022-10-14 | by ( Claire Atkinson | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Rupert Murdoch is considering bringing together Fox Corp and News Corp. Late Friday, News Corp announced it had formed a special committee to begin looking at a potential combination with Fox, following letters from Murdoch and the Murdoch Family Trust. While the television and film assets were renamed under a private company called 21st Century Fox, according to The Journal. The latter was eventually renamed as Fox Corp, and now owns Fox News, Fox Broadcast network, local television stations, and the Tubi streaming service. In May 2021, the younger Murdoch told Insider that "it's a terrific job."

Register now for FREE unlimited access to Reuters.com RegisterFILE PHOTO - Mike Lindell, CEO of MyPillow, speaks during general session at the Conservative Political Action Conference (CPAC) in Dallas, Texas, U.S., August 5, 2022. REUTERS/Go NakamuraSept 19 (Reuters) - MyPillow Inc Chief Executive Mike Lindell must face a defamation lawsuit brought by a voting machine company that the Trump ally falsely accused of rigging the 2020 U.S. election, a Minnesota federal judge ruled on Monday. Register now for FREE unlimited access to Reuters.com RegisterLawyers for the defendants did not immediately respond to inquiries Monday. Smartmatic operated voting machines in Los Angeles County in 2020 and says there were no irregularities in its tallies. The London-based company alleged in its January complaint that Lindell knowingly made false election-rigging claims to boost MyPillow's sales and made Smartmatic "synonymous with election fraud."

☆ Hope Hicks told Donald Trump he lost the 2020 election and that 'nobody's convinced me otherwise," book says
▼ + stars: | 2022-09-19 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Longtime Trump aide Hope Hicks didn't buy into his false claims that he won the 2020 election. She told him to move on, according to the book "The Divider: Trump in the White House, 2017-2021." Hicks told Trump it was time to move on, according to the book set to publish Tuesday. Once, the authors wrote, when seeing Biden on television, he said, "'Can you believe I lost to this fucking guy?'" "'Obviously, I support you, but I can't help you on that,'" Kushner told Trump, as he related the story to another Republican at the time," the authors wrote.

☆ Top Fox News personalities face questioning as Dominion Voting's defamation lawsuit moves forward
▼ + stars: | 2022-09-02 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Alexi Rosenfeld | Getty ImagesNext week, Maria Bartiromo will join the parade of Fox personalities who are being called to answer questions in Dominion Voting Systems' defamation lawsuit against the network. Dominion has argued that Fox Corp. 's Fox News and Fox Business made false claims that its voting machines rigged the results of the 2020 election between Donald Trump and Joe Biden. But in December, the Delaware judge overseeing the Dominion case denied Fox News' request to have the case dismissed. Fox has asked the court to keep all of the collected materials private, claiming that Dominion mischaracterized what the documents show as actual malice. FOX Business' "Mornings With Maria" anchor Maria Bartiromo at Fox Business Network Studios on April 6, 2018 in New York City.

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