FOX is "back to its roots" after a tougher deal with Disney, and is now "on top" in the media industry, says CEO and CEO Lachlan Murdoch on Thursday on the company's first investor day. [1
"We have created a company that is very well positioned for growth," said Lachlan Murdoch. "FOX is the best brand you will ever have."
LACHLAN MURDOCH COUNCILS FOX CORPORATION STAFF, "WE ARE BOLD, RISKED, GRITTY UNDERSTANDED"
Founder Rupert Murdoch opened the event by explaining his "new journey" that arose when Disney's acquisition of 21st Century Fox became official earlier this year, leaving Fox Sports, Fox News, Fox Television Stations and Fox Broadcasting as a stand-alone company with his son, Lachlan, at the helm.
"The creation of FOX, both from conception and over the last few months of preparation and molding, was designed to provide it with strong resources and unique positions to succeed in competing in this rapidly evolving media landscape," said Lachlan Murdoch.
Fox News CEO Suzanne Scott told investors that it is currently the "best time" for FOX, says the cable network has the "incredible honor" to present the news to the public – and viewers trust the content they are with nsuming.
"There are moments where it seems like a nation we have stood still to see together, mourn and celebrate together. And that is the coverage of those moments on all platforms that have created an unbreakable bond between Fox News and the public "Scott told investors that if they only have a takeaway from the presentation, it should be that" America looks at "and character data stores their message.
" We've had tremendous achievements at Fox News, " Scott before explaining that Fox News is not just a television channel anymore.
"Fox News you know today started almost 23 years ago as a small, linear cable channel. But when we think about our business now, we refer to it as Fox News Media, she says. "Over the years, we have fundamentally transformed our business."
Scott said Fox News is now a multimedia brand that includes two fully-distributed cable networks and "robust" businesses across digital, mobile, social and direct-to-consumer media.
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"The unmatched strength of our brand and its passionate audience has enabled us to expand our reach while we maintains relevance across all of these platforms, "she said. "We've created new revenue models to capitalize on the ever-growing choices consumers need to see, interact, listen, read, and engage with our content."
Fox News CEO then explained that over 200 million people are reached each month between the various Fox News Media platforms – with half coming from outside the linear cable networks.
"This fiscal year is on the right track to be our highest advertising revenue year, ever," Scott said. "We expect advertising to continue to be a driving force for business across all platforms."
While half of the 200 million monthly consumers come from other than linear television, Scott pointed out that Fox News Channel continues to triumph over Cable News in the Review Department.
"We are No. 1 overall across the entire cable, every day section and all genres of programming. From ESPN to HGTV, from morning to night, we dominate," Scott said. "We came here because the audience trusts us."
Scott's presentation indicated that Fox News has a "dedicated, upscale" audience, and the company owns 100 percent of its content. The network has been
"Fox News is instead the American's turn to when news breaks," she said when the audience saw a chart showing dominance during major television events as election nights.
FOX COO John Nallen broke revenues and expenses and notes that FOX is run in a "hallmark lean fashion" from a management perspective.