Fox Corp. marks two years as a corporation
By Matt Collins Article may include affiliate links
In addition to announcing a delay in a return to the office, Fox Corp. CEO Lachlan Murdoch also noted this week marks the two year anniversary of the formation of Fox Corp.
To be clear, Fox Corp. is a distinct corporate entity set up 2019 to become the corporate parent of the select broadcasting assets that were not sold to Disney.
Previously, a corporation known as 21st Century Fox owned the company’s Fox broadcast network and right leaning cable channel, as well as a multitude of other media assets.
However, most of those were sold to Disney in 2019, with, notably, the network, conservative commentary channel, a business network, the national Fox Sports Media Group, FS1, FS2 and Big Ten Network becoming the core of the Fox Corp., sometimes referred to as the “New Fox.”
Fox Corp. also includes 28 owned local stations, MyNetworkTV as well as digital and streaming assets.
Back in 2013, News Corp. the Rupert Murdoch owned media conglomerate that owned these assets, announced it would split into two companies, with the broadcast assets mostly moving under the 21st Century corporate umbrella.
After Disney bought most of its assets, the name 21st Century Fox was officially retired.
News Corp., meanwhile, dates back to the 1980s and over the years has owned newspaper, book publishers, magazines, music and radio assets and film and TV production companies and studios. It also owned media properties around the world.
Below is the text of the memo issued by Lachlan Murdoch:
This week we mark the two-year anniversary of Fox Corporation. The company’s founding was rooted in our belief in the strength of our core brands, the power of leading news, sports and entertainment content, and our legacy of innovation. The businesses that underpin FOX are thriving, and we have grown and diversified with the acquisitions of Tubi and Credible as well as our joint venture FOX Bet. The financial and operational excellence that FOX has delivered over the past two years is a direct result of your commitment, ingenuity, and passion. What makes this company great is the great people who work here.
Beyond the accomplishments of our business, we have been enormously successful in cultivating a collaborative and caring culture. Your support for each other, particularly during the ongoing challenges of the pandemic, has exemplified the FOX family mentality. While we spent the last year working in new, and often remote, ways, you have continued to prioritize caring for each other. Similarly, the health and safety of our workforce has remained my priority. With that as the guiding principle, we are deferring our next possible phase one reopening date to no earlier than September 7, immediately after Labor Day.
While I wish we could celebrate this anniversary milestone together, I want to recognize and thank you for your contribution to the company. In the spirit of leaving a positive and lasting impact on the lives of our viewers and the communities we serve, FOX worked with our philanthropic partner U.S. VETS to modernize the career center in its South Los Angeles facility. Veterans at that U.S. VETS facility will now have access to new computers, printers, and furniture, creating the optimal space to assist them with resume writing, job applications, mock interviews and other professional needs. The revitalized career center, which was donated on behalf of the entire FOX organization, is a living tribute to you.
Thank you for an impressive and impactful first two years – and here is to many more.