Fox FOXA-owned Fox television stations (“FTS”) recently announced that it has signed a content deal with Amazon.com AMZN. FTS will provide seventeen 24/7 local, free, ad-supported television (FAST) channels. These channels will be broadcasted by Amazon News App on Echo Show devices, Alexa and Fire TV in each market covered by FTS.
The partnership began in March 2022 with the distribution of LiveNOW from FOX and FOX Soul FAST channels. FTS’ local news content was first broadcasted by Amazon on five channels in December 2022. FTS will also broadcast local news video on demand clips in addition to the live channels.
Fire TV supports a free and customizable Amazon news app which is supported with advertisements. It has a built-in Fire TV experience on all media players and smart TVs for the U.S. viewers to choose news from local and national sources.
Viewers in the United States can watch local news channels in 250 cities provided by more than 300 local news on Echo Show devices. With this partnership, Alexa will make hands-free feature available for latest news stories to its users.
Fox Corporation Price and Consensus
Fox Corporation price-consensus-chart | Fox Corporation Quote
Fox News Shows Continue to Dominate
Fox is part of billionaire Rupert Murdoch’s empire. The empire also includes The Wall Street Journal and The Times of London. Dominion Voting Systems has filed a billion dollar law suit over accusation of pushing of false information knowingly linking to an election fraud.
The Zacks Consensus Estimate for FOXA’s third-quarter 2023 earnings is pegged at a profit of 88 cents per share, indicating year-over-year growth of 8.64%. The Zacks Consensus Estimate for revenues in 2023 is pegged at $14.95 billion, indicating year-over-year growth of 6.96%.
Shares of this Zacks Rank #3 (Hold) company have decreased 11.8% in the past year compared with the Zacks Consumer Discretionary sector’s decline of 8.8% in the same period. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
According to a Forbes report, Fox news channels were the most watched cable television network in the United States for the seventh consecutive year. Fox averaged 1.4 million day viewers in 2022, which indicates year-over-year growth of 3%. Fox has 92 out of the top 100 cable news shows in 2022. The most watched cable show was Fox’s The Five. It attracted more than 3.4 million viewers.
Fox news channels face a stiff competition from cable shows of MSNBC owned by Comcast CMCSA and CNN owned by Warner Bros. Discovery WBD.
MSNBC netted an average of 1.2 million viewers during weekday time slots in 2022. All three major networks saw a decline in viewership in the past year. MSNBC’s flagship shows include Morning Joe and The Last Word With Lawrence O’Donnell.
CNN netted an average of 730,000 viewers during weekday time slots in 2022. It was down by almost 35% in the past year. CNN’s top shows include CNN Newsroom and Reliable Sources.
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