Fox Corp. has strategically positioned itself around live programming—particularly news and sports—following its 2019 sale of major entertainment assets from 21st Century Fox for $71.3 billion, which allowed the company to anchor its business in content people watch in real time.]
John Nallen, president and chief operating officer of Fox Corp., explained in an interview that companies burdened by legacy entertainment channels have faced the greatest challenges, while Fox has focused on its core cable news operations and heavily invested in live sports, including NFL, Major League Baseball, and the recent acquisition of a one-third stake in Penske Entertainment (owner of the IndyCar Series and Indianapolis Motor Speedway).
Like competitors, Fox faces escalating costs for premium live sports rights. The NFL can opt out of its deal with Fox after the 2029 season, but Nallen affirmed the company's commitment to retaining those rights. Industry analyst Michael Nathanson emphasized, “They have to do whatever they can to keep the NFL.”
While rivals invested billions in direct-to-consumer streaming platforms, Fox largely avoided heavy bets as the market stabilized. It launched Fox Nation in 2018 as a complement to Fox News with original programming, and introduced Fox One last year. Fox Entertainment CEO Rob Wade described streaming services as “beasts which require to be fed,” noting that Fox has avoided that distraction.
To reach younger audiences, Fox is now expanding across its properties. Fox News signed a licensing deal with the popular conservative podcast “Ruthless,” featuring former Republican strategists. Fox Sports partnered with Barstool Sports, bringing founder Dave Portnoy and personalities to its college football pregame show “Big Noon Kickoff.”
Fox Creator Studios, a new division, collaborates with digital creators to produce content for social media and potentially Fox platforms. Executives recently hosted advertisers and creators—including YouTube baker Rosanna Pansino (nearly 15 million subscribers)—at Carbone in Las Vegas during CES in early January to foster these partnerships.