Fox Corp

Company facts

Industry

Television Broadcasting Stations

Headquarters

New York, New York

Most recent report

8-K/A, filed Aug 10, 2026

Incorporated

Delaware

Filings on record

652 filings

On EDGAR

CIK 1754301

Fiscal year ends

June

Filer status

Large accelerated filer

What to read: FY2026 10-K

SECSift found 6 of 22 sections worth reading, with 3 positive, 18 notable, and 3 negative flags.

• Business (Item 1)

  Transformative Roku acquisition, subscriber declines, new FOX One streaming service.
  Notable

  • FOX returned ~$2.3B to shareholders via dividends and buybacks, including a $1.5B accelerated share repurchase in fiscal 2026.
  • Tubi streamed over 13B hours in fiscal 2026 (up from ~11B), with 20% total view time growth. Content library now over 350K titles.
  • FOX Latin America began operations in June 2025, offering sports programming in Mexico and Central America.
  • FanDuel option exercise price increased to ~$4.7B as of June 30, 2026 (from ~$4.5B a year earlier).
  • FCC will vote in August 2026 to eliminate the 39% national TV ownership cap; if adopted, could boost acquisition capacity.
  Negative

  • FOX's ownership in the United Football League dropped to ~32.2% from ~42% at June 30, 2025.

• Risk Factors (Item 1A)

  New Roku merger risks with $866M-$1.2B break fees, litigation, and ownership changes.
  Notable

  • Fox agreed to acquire Roku; termination fee up to $1.2B if regulatory approvals fail. (FY2026).
  • Each party may owe $866M break fee if deal fails due to board recommendation change or termination date lapse.
  • New risk: competitors using AI more effectively in advertising could hurt Fox's ad revenue.
  • Non-cash FCC-license impairment: $64M in FY2026 and $70M in FY2025 at the Television segment.
  • LGC Holdco (Lachlan Murdoch-controlled) owns ~38.8% of Class B; new 44% voting cap with forfeiture mechanism.
  Negative

  • Pending Smartmatic defamation lawsuits, no merit asserted but outcome uncertain; Dominion cost $800M in 2023.

• Market for the Stock (Item 5)

  Buyback authorization doubled to $12B; repurchases doubled to $2B; ASR entered; holder counts fell.
  Positive

  • Board added $5B to buyback authorization in August 2025, total now $12B with no time limit.
  • Buyback pace doubled to $2.0B in FY2026 vs $1.0B in FY2025, funded by operations.
  Notable

  • Holders of record fell: Class A from 12,900 to 11,700, Class B from 2,700 to 2,400 as of June 30, 2026.
  • Entered $1.5B ASR agreement in Oct 2025; received final deliveries of 1.8M Class A and 2.6M Class B shares.

• Management's Discussion (Item 7)

  Full MD&A with Roku acquisition, $12B bridge, and 25% net income drop.
  Notable

  • Fox agreed to acquire Roku for $96 cash + 0.9693 FOX shares per share; $12B bridge facility committed.
  • Cash and equivalents fell to $4.2B at June 30, 2026 from $5.4B a year earlier.
  Negative

  • FCC license impairment of $64M in fiscal 2026; fair values in some markets less than 10% above carrying.

• Financial Statements (Item 8)

  Core statements with Roku deal, litigation, and operating results.
  Positive

  • Board added $5B to share repurchase program; $2B repurchased in FY2026.

• Exhibits (Item 15)

  New Roku merger agreement, term loan, and Murdoch trust changes are material.
  Notable

  • New Employment Extension Letter filed, indicating a key executive contract action in June 2026.
  • New term loan credit agreement adds debt financing at fiscal year-end 2026.
  • Murdoch Family Trust agreement terminated and replaced with a new Stockholders Agreement in September 2025.
  • Voting and Support Agreement with Roku stockholders (including CEO Anthony Wood) to back the merger.

What changed: FY2026 vs. FY2025

About 11% of FOXA's FY2026 10-K is new information. 93 paragraphs were added, 360 changed, and 111 removed. Below are the most important lines SECSift identified.

• Financial Statements (Item 8) 140
• Management's Discussion (Item 7) 79
• Business (Item 1) 63
• Risk Factors (Item 1A) 60
• Exhibits (Item 15) 12
• Form 10-K Summary (Item 16) 8
• Market for the Stock (Item 5) 5
• Cybersecurity (Item 1C) 2