‘Fox’ will be home to Fox News, the 24-hour cable news channel, which for better or worse, (mostly worse) has had a bigger impact on the world than anything else the Murdochs have done.
Fox News has dominated conservative politics in the US for the better part of the past two decades. It’s also widly profitable.
The new Fox (which also will house the Fox Business and Fox Sports cable channels, plus the Fox free to air broadcast network in the US) is expected to spit out $US10 billion in annual revenue, and $US2.8 billion in earnings (before interest, tax, depreciation, and amortisation).
But almost all of those earnings, or $US2 billion of them, according to Credit Suisse, will come from Fox News.