When you flip to the Fox broadcast network, you're tuning into an enterprise with a tightly concentrated ownership structure. The Fox Network is owned by Fox Corporation, a publicly traded mass media company that trades on the Nasdaq under the ticker symbols FOXA and FOX. While the company issues shares to public investors, effective operational and voting control rests firmly with the Murdoch family through a specialized family trust.
Understanding who runs this corporate empire requires looking back at the massive 2019 corporate split that separated the modern broadcasting entity from the assets sold to Disney. Today, Fox Corporation operates as an independent media house focusing on live news, sports, and free ad-supported streaming.
The Corporate Parent: Fox Corporation
Fox Corporation was established on March 19, 2019, following The Walt Disney Company's acquisition of 21st Century Fox. When Disney purchased movie studios, cable networks like FX, and international assets for roughly $71 billion, the remaining broadcast, news, and sports assets were bundled into the newly minted Fox Corporation.
The company is headquartered at 1211 Avenue of the Americas in New York City. Unlike diversified tech giants or sprawling conglomerates that own theme parks and consumer products, Fox Corporation keeps its portfolio lean. Its primary revenue streams rely heavily on advertising, retransmission consent fees from cable and satellite providers, and digital streaming.
Murdoch Family Control and Governance
Even though Fox Corporation is a public company with shares owned by institutional funds and retail investors, it operates under dual-class share structures. Class A shares carry economic rights but limited voting power, while Class B shares control the voting outcomes.
The Murdoch Family Trust holds approximately 36% of the voting shares, granting them veto power over major corporate decisions, board appointments, and mergers.
- Lachlan Murdoch serves as the Executive Chairman and Chief Executive Officer, steering day-to-day operations and strategic direction.
- Rupert Murdoch, founder of the modern media empire, transitioned to Chairman Emeritus, maintaining influence while stepping back from executive management duties.
This ownership model ensures that strategic control stays insulated from outside shareholder activism, preserving a distinct corporate identity.
Core Divisions Under the Fox Umbrella
Fox Corporation manages several distinct business units that generate its multi-billion-dollar annual revenue.
Fox Broadcasting Company and Entertainment
The flagship Fox television network relies on a broadcast model rather than a traditional cable setup. It partners with local affiliate stations across the United States to deliver primetime entertainment, reality television, and animated series. Sister division Fox Television Stations owns and operates local broadcast outlets in major media markets like New York, Los Angeles, and Chicago.
Fox News Media
Encompassing the Fox News Channel, Fox Business Network, digital properties, and audio services, this division operates as a major profit center. It commands significant cable subscriber fees alongside digital advertising revenue.
Fox Sports
Fox Sports holds major broadcasting rights for premier sporting events, including NFL games, Major League Baseball, college football, and international soccer tournaments. It distributes content through the main broadcast network as well as dedicated cable channels like FS1 and FS2.
Tubi Media Group
In 2020, Fox Corporation acquired the free ad-supported streaming platform Tubi. It operates independently within the portfolio, capturing cord-cutters who prefer streaming over traditional cable or satellite bundles.
Frequently Asked Questions
Is Fox Network owned by Disney?
No. While The Walt Disney Company acquired a large portion of 21st Century Fox in 2019—including movie studios and entertainment cable channels—the Fox broadcast network, Fox News, and Fox Sports were explicitly excluded from that sale and formed the independent Fox Corporation.
What is the difference between Fox Corporation and News Corp?
Fox Corporation handles television broadcasting, news, and sports. News Corp is a separate publicly traded publishing company controlled by the same family trust, housing newspapers like The Wall Street Journal, the New York Post, and various Australian publications.
Can public shareholders outvote the Murdoch family?
No. Because of the dual-class share system, Class A public shares lack the voting weight carried by Class B shares held within the Murdoch Family Trust, giving the family definitive control over corporate governance.
