Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S. It operates FOX News, a national cable news channel; FOX Business, a business news national cable channel; FS1 and FS2 multi-sport national networks; FOX Sports Racing, a video programming service that comprises motor sports programming; FOX Soccer Plus, a video programming network for live soccer and rugby competitions; FOX Deportes, a Spanish-language sports programming service; and Big Ten Network, a national video programming service. The Television segment acquires, produces, markets, and distributes programming. It operates The FOX Network, a national television broadcast network that broadcasts sports programming and entertainment; Tubi, an advertising-supported video-on-demand service; Fox Alternative Entertainment, a full-service production studio that develops and produces unscripted and alternative programming; MyNetworkTV, a programming distribution service; and Blockchain Creative Labs, which is focuses on the creation, distribution and monetization of Web3 content. This segment owns and operates 29 broadcast television stations. The Other, Corporate and Eliminations segment owns the FOX Studios Lot that provides production and post-production services, including 15 sound stages, two broadcast studios, theaters and screening rooms, editing rooms, and other television and film production facilities in Los Angeles, California. The company was incorporated in 2018 and is based in New York, New York.

Fox Entertainment Group, LLC

Revenues

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Restructuring, Impairment and Other Corporate Matters

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Net Income

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Less: Net Income Attributable to Noncontrolling Interests

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Net Income Attributable to Fox Corporation Stockholders

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Basic

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Total Revenues

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Provision for Income Taxes

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Net Income Attributable to Minority Interests and Other

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Basic EPS

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Adjusted Funds From Operations

Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	7,658	8,642	6,539	7,441	7,116	7,797
Total Revenues %Chg	17.1%	16.1%	-8.1%	-4.6%	9.7%	4.2%
Revenues
Gross Profit	7,658	8,642	6,539	7,441	7,116	7,797
Gross Profit Margin	100%	100%	100%	100%	100%	100%
Selling, General & Administrative Expenses	1,141	1,027	1,049	975	1,051	998
Selling, General and Administrative
Depreciation & Amortization Expenses	197	188	196	193	209	202
Depreciation and Amortization
Other Operating Expenses	154	196	58	9	1,182	—
Impairment and Restructuring Charges
Restructuring, Impairment and Other Corporate Matters
Operating Profit	6,166	7,231	5,236	6,264	4,674	6,597
Operating Margin	80.5%	83.7%	80.1%	84.2%	65.7%	84.6%
Interest and Investment Income	-36	7	-46	2	4	—
Interest Income
Equity Earnings of Affiliates
Interest Expense	-97	-130	-102	-114	-90	-128
Interest Expense
Interest Expense, Net
Non-Operating Income	124	314	158	-205	365	3
Other, Net
Non-Operating Other, Net
Total Non-Operating Income	-9	191	10	-317	279	-125
Income Before Provision for Income Taxes	1,433	1,628	1,412	692	454	1,282
Income Before Income Tax Expense
Provision for Income Taxes	360	408	388	162	135	348
Income Tax Expense
Consolidated Net Income	1,073	1,220	1,024	530	319	934
Net Income
Net Income Attributable to Minority Interests and Other	10	20	39	14	-2	16
Less: Net Income Attributable to Noncontrolling Interests
Net Income Attributable to Common Shareholders	1,063	1,200	985	516	321	918
Net Income Attributable to Fox Corporation Stockholders
Basic EPS	2.4	2.6	2.1	1.1	0.7	1.7
Diluted EPS	2.3	2.6	2.1	1.1	0.7	1.7
Basic Weighted Average Shares Outstanding	451	459	469	487	513	545
Total Shares Outstanding	446.3	454.4	461.3	476.4	498.5	536.1
Diluted Weighted Average Shares Outstanding	459	463	472	488	515	547
EBITDA	6,365	7,427	5,440	6,465	4,891	6,807
Effective Tax Rate	25.1%	25.1%	27.5%	23.4%	29.7%	27.1%