|Bid||28.00 x 1000|
|Ask||32.50 x 3000|
|Day's Range||29.07 - 29.75|
|52 Week Range||19.81 - 39.74|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||13.75|
|Earnings Date||Aug. 05, 2020 - Aug. 10, 2020|
|Forward Dividend & Yield||0.46 (1.56%)|
|Ex-Dividend Date||Mar. 03, 2020|
|1y Target Est||28.95|
(Bloomberg) -- Flutter Entertainment Plc, the world’s biggest online gambling company, has raised money through an investment from Fox Corp. to take advantage of opportunities presented by the pandemic.Flutter, which owns the Paddy Power, Poker Stars and Sky Bet brands, said in a statement Friday it placed 8.05 million new shares at a 4.7% discount to Thursday’s closing price, raising 812 million pounds ($1 billion). Flutter shares fell 2.9% at 8:04 a.m. in London.“COVID-19 will likely result in a faster rate of US sports betting legalization, potentially followed by online casino legalization,” James Wheatcroft, equity analyst at Jefferies, said in a note. “This placing positions Flutter to take advantage of the enlarged market opportunity.”Fox is investing because it is “bullish about the the opportunities in the digital sports wagering market,” Lachlan Murdoch, Chief Executive Officer at Fox, said in a statement, which did not reveal how much Fox would invest.There has been a flurry of share sales this week, with almost $5 billion announced after the close of trading Tuesday as large investors take advantage of rebounding indexes to offload stakes, and as companies attempt to shore up cash balances amid the coronavirus crisis.Flutter agreed to buy Toronto-based The Stars Group Inc. in October in a $6 billion all-share deal to take advantage of opportunities in the U.S. after the Supreme Court legalized sports betting.While Flutter had a U.S. presence -- it owns the FanDuel fantasy sports site -- prior to the Stars deal, almost half its revenue came from Britain, where tighter rules on fixed-odds betting terminals and higher taxes for online betting have upended the industry.“Faster deleveraging and firepower to compete more aggressively against weakened competitors are further material benefits,” Jefferies’ Wheatcroft wrote.(Adds share price, analyst comment)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Paddy Power, Betfair and Poker Stars owner Flutter Entertainment <FLTRF.I> has raised 812 million pounds via a share placement that will see U.S. media group Fox Corp <FOXA.O> increase its investment in the world's largest online betting group. Flutter said on Thursday that the 8 million new shares would be placed with institutional investors via an accelerated book build to speed up growth in the fast growing U.S. market and finance cost savings arising out of the coronavirus crisis. The placement came three weeks after Flutter completed its $6 billion merger with Stars Group Inc (TSG) <TSGI.TO> that also added the Sky Bet brand to the group.
FOX Nation, the on demand subscription-based streaming service, will roll out a new slate of adventure programming for the month of June, including an acquisition of the hit series Duck Dynasty, a new series hosted by FOX News Channel (FNC) contributor Johnny Joey Jones and the season premiere of Brian Kilmeade’s popular historical series What Made America Great.
FOX News Digital finished the month of April with double digit increases versus the prior year across all key performance indicators, including multiplatform views (a 26 percent increase from April 2019), multiplatform minutes (a 19 percent increase from April 2019) and multiplatform unique visitors (a 20 percent increase from April 2019), according to Comscore. The network also yielded highs in multiplatform unique visitors (121.5 million), total multiplatform views (1.9 billion) and total multiplatform minutes (4.5 billion minutes), while its comprehensive coverage of the pandemic continued to drive traffic and engagement. This April marked the second highest month of multiplatform unique visitors, coming only behind March 2020, as well as notched the network’s fifth consecutive month with over 100 million multiplatform unique visitors. The strong performance also helped propel the FOX News Mobile App ahead of the CNN Mobile App for the 17th month in a row in unique visitors (8.7 million versus CNN’s 7.3 million).*
If the economic slowdown continues, ViacomCBS, Fox, and Eros International could see revenue fall from reduced ad spending and lower subscriber growth.
FOX Nation, the on demand, subscription streaming service designed to complement the FOX News Channel experience, is now available to Cox Contour TV customers and to Internet-only customers with the Contour Stream Player, announced John Finley, Executive Vice President of Development for FOX Nation.
Shares of Fox Corporation (NASDAQ: FOX)(NASDAQ: FOXA) headed higher on Thursday after the company showed its business is holding up well during the COVID-19 pandemic. Both its Class A shares and Class B shares were 9% higher during early trading, before fading later in the session. What might be most surprising for investors is Fox's ad revenue, which in the third quarter of fiscal 2020 grew a whopping 44% year over year.
Fox (FOXA) delivered earnings and revenue surprises of 29.17% and 2.51%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
FOX News Media has partnered with Spotify, the world’s leading audio subscription streaming platform, in a new deal that will distribute FOX News Podcasts on the global audio streaming platform, announced John Sylvester, vice president of FOX News Radio (FNR). Beginning today, FNR’s catalogue featuring more than 20 original series, including three new programs slated to debut in May — The Trey Gowdy Podcast, The Proud American Podcast Series and FOX Top 5 — will be made available globally on Spotify, reaching over 286 million monthly users.
Shares of media giant Fox Corporation (NASDAQ: FOX) (NASDAQ: FOXA) were falling today as investors processed more bad news stemming from the coronavirus pandemic. The broader stock market was reeling from the latest unemployment figures released today, and Fox's stock took a hit along with it. Fox Corporation's stock was down 8% as of 11:41 a.m. EDT.
FOX News Channel (FNC) will host a two-hour virtual town hall with President Donald Trump on Sunday, May 3rd from 7-9 PM/ET. Co-moderated by chief political anchor and executive editor of Special Report, Bret Baier and anchor and executive editor of The Story, Martha MacCallum, the socially-distanced forum entitled America Together: Returning to Work, will take place live from the Lincoln Memorial in Washington D.C., where President Trump will answer viewer-submitted questions from 7:15-8:45 PM/ET.
Fox (FOXA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The agreement between these two strange bedfellows highlights the importance of a carefully crafted data gathering and advertising platform.
FOX News Channel (FNC) will present America Copes Together on Wednesday, April 29th at 1PM/ET. Moderated by Outnumbered Overtime anchor Harris Faulkner, the virtual town hall will feature remote panels comprised of psychiatrists and everyday Americans to highlight the psychological effects that the COVID-19 crisis has had on families, the healthcare community, front line workers and all those isolated and impacted during the pandemic.
FOX News, in partnership with the National Merit Scholarship Program, has selected two recipients of the inaugural Dr. Charles Krauthammer Memorial Scholarship, announced Suzanne Scott, CEO of FOX News Media. The scholarship will be awarded to Ami Carey of Lynbrook, NY and Michael Carey of Merrick, NY, the children of FOX News Media Senior Vice President of Technical Operations, Steve Carey and Senior Director of IT Operations, John Carey, respectively.
Charles Robinson, Yahoo Sports Senior NFL Reporter, spoke with Yahoo Finance about how the NFL is weathering coronavirus along with how the annual NFL Draft is moving online.
Other executives including Chief Operating Officer John Nallen, Chief Legal Officer Viet Dinh and Chief Financial officer Steve Tomsic will also forego their salaries through Sept. 30, effective immediately, the memo said, adding that pay cuts will impact about 700 Fox employees. The most-senior members of the company will take pay cuts so Fox is able to protect its full-time employees with salary and benefit continuation during the crisis, Murdoch said. Last month, Walt Disney Co <DIS.N> also announced compensation changes in response to the pandemic and said Executive Chairman Bob Iger will forgo his salary and newly named Chief Executive Officer Bob Chapek will take a 50% pay cut.
(Bloomberg) -- Walmart Inc. will sell its Vudu streaming platform to Comcast Corp.’s Fandango, giving up on efforts to be an online-video giant like Amazon.com Inc.Fandango, which vends movie tickets and streams movies, will maintain the Vudu site and preserve users’ film and TV libraries, according to a statement Monday announcing the deal. Terms weren’t disclosed.Walmart acquired Vudu in 2010, trying to adapt to a shift away from DVDs. But the retailer has struggled to turn the service into its own version of Amazon’s Prime Video -- despite it being available on millions of TVs and other devices.Comcast’s acquisition of Vudu marks the third recent takeover of a streaming business by a media giant. Viacom, now part of ViacomCBS Inc., purchased the Pluto TV service for $340 million last year, and Fox Corp. agreed to buy the Tubi platform for $440 million last month.“Vudu will continue to deliver an amazing experience, and we promise that the future will bring more new features, offerings, and other benefits as we join the Fandango family,” Vudu said in the statement.Doubling DownWith Fandango bringing on Vudu, Comcast is doubling down on streaming this month. The owner of NBCUniversal just launched a service called Peacock to some of its pay-TV customers, with the rest of the country getting access in the coming months.Vudu began as a hardware company before becoming a digital storage locker for people who bought films electronically or on DVD. The company also offers movie rentals and the ability to stream films with ads, even promoting some as not available on Netflix.Fandango is most prominently an online seller of tickets for movie theaters, but the company has been broadening its offerings in recent years. It acquired M-Go, an online movie rental and purchase service that it rebranded as Fandango Now, and Rotten Tomatoes, which aggregates movie reviews from critics and the general public.Fandango Now’s rental and purchase service focuses on movies that have just finished their run in theaters.Vudu said the two services will be available separately for now, with customers still able to access their Vudu libraries through Walmart.com and devices such as Roku. “In the months ahead, we will explore ways to bring great online entertainment experiences to our valued customers,” the streaming service said.(Updates with company history beginning in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Fox Corporation (NASDAQ:FOXA) shareholders should be happy to see the share price up 14% in the last month. But that...