Many people wonder about who controls the media they consume daily. Fox News, one of America’s most-watched cable news networks, is owned by Fox Corporation. The Murdoch family controls the Fox Corporation. Rupert Murdoch and his family trust hold approximately 40% ownership stake in the company.
The Murdoch media empire has a fascinating history. In 2019, Fox Corporation launched as a standalone, publicly traded company following the separation of 21st Century Fox. This restructuring kept Fox News under Rupert Murdoch’s influence while he sold most of Fox’s movie studio assets to other companies.
While Fox Corporation is publicly traded, the Murdoch family maintains controlling interest through their significant ownership. This family control allows them to shape the direction and content of Fox News, which has become one of the most influential news outlets in American media.
Key Takeaways
- Fox News is owned by Fox Corporation, a publicly traded company where the Murdoch family holds the controlling interest.
- Rupert Murdoch and his family trust control nearly 40% of Fox Corporation, giving them significant influence over Fox News operations.
- Despite being publicly traded, the ownership structure ensures the Murdoch family maintains decision-making power over the network’s direction and content.
History of Fox News
Fox News has grown from a small cable channel to a major player in American media. Its origins and development are closely tied to its founder’s vision and business strategy in the competitive news landscape.
Founding and Growth
Fox News Channel was created by Rupert Murdoch, an Australian-born American media mogul, in 1996. Murdoch specifically designed the network to appeal to conservative viewers, filling what he saw as a gap in the market.
The channel operated under the Fox Entertainment Group, which was part of Murdoch’s larger media empire. When launching the network, Murdoch hired former Republican media consultants to help shape its direction and approach.
From its beginning, Fox News had a clear strategy to differentiate itself from other news outlets. The network grew steadily through the late 1990s and early 2000s as it built its audience base.
Under Murdoch’s leadership, Fox News expanded its programming and reach. Its viewership increased significantly during major political and news events.
Notable Milestones
Fox News reached a major milestone in 2002 when it surpassed CNN to become the most-watched cable news network in the United States. This position of dominance continued for many years afterward.
The network’s coverage of the 9/11 attacks and subsequent War on Terror helped solidify its position in American media. During presidential elections, Fox News typically saw substantial ratings boosts.
In 2015, Murdoch stepped down as CEO of 21st Century Fox (formerly News Corporation), though he remained influential in the company. He had served as CEO since the company’s creation in 1979.
A significant corporate restructuring occurred in 2019 when The Walt Disney Company acquired most of 21st Century Fox’s assets. However, Fox News was not part of this deal and instead became part of the newly formed Fox Corporation.
Fox News has continued to be a ratings leader and influential force in American media and politics.
Ownership Structure
Fox News operates under a complex ownership structure dominated by the Murdoch family. The network falls under the umbrella of Fox Corporation, with specific stakeholders holding varying degrees of control and financial interest.
Roles and Responsibilities
Rupert Murdoch serves as Chairman Emeritus of Fox Corporation, the parent company of Fox News. Though he stepped back from daily operations, his influence remains significant in shaping the network’s direction.
His son Lachlan Murdoch now holds the position of Executive Chairman and CEO of Fox Corporation. This family leadership ensures the Murdoch vision continues to guide Fox News.
Key executives manage day-to-day operations while following the strategic direction set by the Murdoch family. The board of directors provides oversight and makes major corporate decisions.
Fox News is specifically managed by Fox News Media, a division within the larger Fox Corporation structure.
Stock Distribution
The Murdoch family controls approximately 40% of Fox Corporation through voting shares, giving them substantial influence over company decisions despite owning a minority of total shares.
According to ownership data, about 33.79% of Fox stock belongs to institutional investors like investment firms and mutual funds. These include major financial institutions seeking long-term returns.
Individual company insiders hold roughly 0.81% of shares, while public companies own approximately 15.71%.
The remaining shares are distributed among individual investors and smaller entities. This distribution allows Fox to raise capital while the Murdoch family maintains control through their concentrated voting rights.
Key Personnel
Fox News is managed by a team of executives who shape its direction and content. The network’s leadership has evolved since its founding in 1996, with several notable figures guiding its operations.
Current Leadership
Lachlan Murdoch serves as the Executive Chair and Chief Executive Officer of Fox Corporation, the parent company of Fox News. He oversees the company’s overall operations and strategic direction.
Suzanne Scott holds the position of Chief Executive Officer for Fox News. She manages the network’s day-to-day operations and content strategy.
The Murdoch family maintains significant control over Fox Corporation through a family trust with 39.6% ownership share. Rupert Murdoch himself holds almost 40% effective control of the company.
Paul Cheesbrough leads Tubi Media Group as CEO, while Jack Abernethy serves as the Chief Executive Officer of FOX Television Stations, both important divisions within the Fox media empire.
Past Executives
Roger Ailes was a pivotal figure in Fox News history, serving as the network’s founding CEO from 1996 until 2016. His leadership helped establish the channel’s conservative-leaning identity.
Rupert Murdoch, who created Fox News in 1996, previously held more direct control over the network’s operations. He founded the channel specifically “to appeal to a conservative audience.”
Bill Shine formerly served as co-president of Fox News before departing in 2017. His exit came amid a period of leadership transitions at the network.
Several other executives have cycled through leadership positions as the network evolved, with each contributing to Fox News’ programming direction and business strategy.
Editorial Direction
Fox News has developed a distinctive approach to news coverage since its founding by Rupert Murdoch in 1996. The network’s editorial direction reflects specific philosophies and political leanings that have shaped its identity in the media landscape.
News Coverage Philosophy
Fox News operates under the slogan “Fair and Balanced,” though critics often question this claim. The network prioritizes stories that resonate with its target audience, particularly those involving traditional values, national security, and economic issues.
Their coverage typically features more opinion-based programming than some other networks. Shows like “Fox & Friends” blend news with commentary and host discussions that frame current events through a specific lens.
Editorial decisions at Fox News are managed by a team led by Suzanne Scott, who oversees the network’s content direction. The approach often emphasizes storytelling that connects emotionally with viewers rather than dry reporting.
Political Alignments
Fox News has established itself as a media outlet with a conservative perspective. The network has maintained close relationships with Republican politicians and regularly features conservative commentators and guests.
During Donald Trump’s presidency, Fox News generally provided favorable coverage of his administration’s policies and accomplishments. Several Fox hosts developed notably friendly relationships with Trump, giving him frequent opportunities to speak directly to viewers.
Not all programs on the network share identical political views. News anchors like Bret Baier aim for more traditional journalism, while opinion hosts such as Sean Hannity and Tucker Carlson (until his 2023 departure) embrace stronger conservative viewpoints.
Influence on Public Opinion
As one of America’s most-watched cable news networks, Fox News significantly shapes political discourse. Its programming reaches 200 million people each month, giving it considerable cultural influence.
Studies suggest Fox News viewers often hold different perceptions of current events compared to consumers of other news sources. The network’s framing of issues like immigration, climate change, and healthcare can influence how millions of Americans understand these topics.
Fox News has successfully created a strong community feeling among its audience. Viewers often develop loyal relationships with hosts and programs, considering them trusted sources in a media landscape they might otherwise view with skepticism.
This loyalty translates to real-world impact on voting patterns and political activism, making Fox News a powerful force in American politics beyond just information delivery.
Legal and Controversies
Fox News has faced several legal challenges throughout its history, with defamation lawsuits becoming particularly significant in recent years. These legal battles have raised questions about journalistic standards and responsibility in news reporting.
Defamation Lawsuits
Fox News has been involved in numerous defamation claims over the years. As one of the most-watched cable news networks in the U.S., its high profile has made it a target for litigation.
Some lawsuits have centered around claims made by hosts or guests that allegedly damaged reputations of individuals or companies. These cases often raise questions about where opinion ends and factual reporting begins.
The network has settled some cases out of court, while fighting others through the legal system. Each lawsuit has brought scrutiny to the channel’s editorial policies and fact-checking processes.
These legal challenges have sometimes resulted in significant financial consequences for the network, which is owned by the Fox Corporation.
Dominion Voting Systems vs. Fox News
The lawsuit between Dominion Voting Systems and Fox News represents one of the most significant legal challenges in the network’s history. Dominion sued Fox News for $1.6 billion over claims that the network spread false information about their voting machines during the 2020 election.
In April 2023, Fox News agreed to a historic $787.5 million settlement with Dominion. This occurred just before the trial was set to begin, avoiding what would have been a highly publicized court case.
The settlement came after Rupert Murdoch, who had controlled the company, acknowledged under oath that some Fox hosts had endorsed false claims about the 2020 election.
This case highlighted tensions between ratings-driven programming and journalistic standards. It raised important questions about media accountability and responsibility during politically charged events.
Business Strategy
Fox News has built a powerful business model that helps deliver strong financial results for its parent company. The network employs specific strategies to generate revenue and maintain its position in the competitive news market.
Revenue Streams
Fox News makes money through several different channels. The network earns significant income from cable subscription fees. Cable providers pay to include Fox News in their channel lineups, and these fees form a stable revenue base.
Advertising is another major money-maker. Fox News attracts advertisers who want to reach its large and loyal audience. Companies pay premium rates to place commercials during popular shows.
The network has also expanded into digital platforms. Fox News operates websites and apps that generate revenue through online advertising and subscriptions.
Merchandise sales and licensing deals provide additional income. Fox News sells branded products and licenses its content to other media outlets.
Market Positioning
Fox News has carved out a distinct position in the media landscape. The network was created by Rupert Murdoch in 1996 specifically to appeal to conservative viewers who felt other networks didn’t represent their perspectives.
This targeted approach has helped Fox News build a dedicated audience. The network consistently ranks among the most-watched cable news channels in the United States.
Fox News differentiates itself from competitors through its programming style and on-air personalities. Its shows often feature opinion-based content that resonates with its core demographic.
The network operates as part of the Fox Corporation, which separated from News Corp in 2019. This separation allowed Fox to focus on news and sports broadcasting while News Corp maintained print media properties like the Wall Street Journal.
Public Perception
Fox News has a distinct place in the American media landscape, with viewers and critics holding varied opinions about the network. These perceptions are shaped by both viewer demographics and the growing influence of social media.
Viewer Demographics
Fox News has cultivated a loyal audience that tends to lean conservative politically. According to polling data, many Fox News viewers have particularly positive views of Republican presidents. A remarkable 93% of people who name Fox News as their main news source expressed positive views of the president during a Republican administration.
The network’s audience tends to be older than that of other news outlets. Many viewers tune in regularly and consider the network their primary news source.
Research suggests that Fox News consumers may have different political perceptions than viewers of other networks. This has created what some analysts call a “Fox News bubble” where regular viewers may develop distinct viewpoints on political issues.
Impact of Social Media
Social media has both amplified and challenged Fox News’ messaging. Clips from Fox News programs often go viral on platforms like Twitter, Facebook, and YouTube. This extends the reach beyond traditional cable viewers.
Online discussions about Fox News can be polarized. Critics point to controversies while supporters defend the network’s approach. The Washington Post has noted that Fox News plays a unique role in American media with a “captive audience” and “tangible effect on its viewers.”
Public perception of Fox News has fluctuated over time. A Public Policy Polling survey found that positive perceptions of Fox News declined from 2010 to 2013. This suggests changing public attitudes toward the network.
