Fox, Verizon Fios agree on multiyear renewal

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Fox has signed a key renewal deal with Verizon’s Fios pay TV service that encompasses multiple Fox brands, including its right-leaning cable commentary channel, Fox Sports Network and owned stations in major markets.

The deal was announced Aug. 3, 2022, but terms were not disclosed.

The new agreement also includes adding Fox Weather, originally envisioned as a primarily digital offering, to Fios and Fox’s free, ad-supported streamer Tubi will also be integrated into select Fios hardware.

This new agreement concerns the fees Verizon pays Fox in exchange for offering its channels to its subscribers and represents a key portion of revenue for anyone who owns cable networks and broadcast TV stations.

Verizon, like other pay TV providers, passes those costs along to consumers via their monthly fees but most aim to add markup between the total cost of all channels it offers and the actual subscription rate.

Typically pay TV providers also are granted portions of ad time that they can sell themselves, often on a regional basis, which is another way they make money from their carriage deals.