Fox said its revenues for fiscal 2024 decreased $933 million (6%) from fiscal 2023. The company said affiliate fee revenue increased $273 million (4%), while advertising revenue decreased $1.2 billion (18%).

10-KAnnual reportFiled Aug 8, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Fox said its revenues for fiscal 2024 decreased $933 million (6%) from fiscal 2023. The company said affiliate fee revenue increased $273 million (4%), while advertising revenue decreased $1.2 billion (18%).
Fox cited marquee events worth about $900 million as a factor in the advertising revenue decline, including the absence of the Super Bowl LVII and FIFA Men’s World Cup broadcasts and fewer NFL playoff games. It said the remaining decline of about $300 million was mainly related to lower political advertising revenue and lower ratings.
Fox said Segment EBITDA for the Television segment decreased $503 million (50%) in fiscal 2024 from the prior year. The company cited lower revenues as the main factor, partially offset by a $332 million (5%) decrease in operating expenses.
Fox said it had about $4.3 billion in cash and cash equivalents as of June 30, 2024 and an unused 5-year $1.0 billion unsecured revolving credit facility. It paid a dividend of $0.52 per share for fiscal 2024 and later raised its semiannual dividend to $0.27 per share.

Key figures

Fiscal year ended June 30, 2024

Revenue: $14.0B
Net income: $1.6B
EPS: $3.13
Operating cash flow: $1.8B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual Revenue and Affiliate Fee and Advertising Revenue Changes

Fox said its revenues for fiscal 2024 decreased $933 million (6%) from fiscal 2023. The company said affiliate fee revenue increased $273 million (4%), while advertising revenue decreased $1.2 billion (18%).

Source · Based on the MD&A text of the filing

Drivers of Advertising Revenue Decline

Fox cited marquee events worth about $900 million as a factor in the advertising revenue decline, including the absence of the Super Bowl LVII and FIFA Men’s World Cup broadcasts and fewer NFL playoff games. It said the remaining decline of about $300 million was mainly related to lower political advertising revenue and lower ratings.

Source · Based on the MD&A text of the filing

Decline in Television Segment EBITDA

Fox said Segment EBITDA for the Television segment decreased $503 million (50%) in fiscal 2024 from the prior year. The company cited lower revenues as the main factor, partially offset by a $332 million (5%) decrease in operating expenses.

Source · Based on the MD&A text of the filing

Cash, Credit Facility and Dividends

Fox said it had about $4.3 billion in cash and cash equivalents as of June 30, 2024 and an unused 5-year $1.0 billion unsecured revolving credit facility. It paid a dividend of $0.52 per share for fiscal 2024 and later raised its semiannual dividend to $0.27 per share.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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