Fox Not Interested in Spinning Off Network: ‘I Don't See How We Could Ever Do That' [Yahoo! Finance]
Fox Corporation - Class B (FOX)
Last fox corporation - class b earnings: 5/10 04:03 pm
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Source: Yahoo! Finance
The company shot down the idea it could be interested segmenting during its earning call for the first quarter of fiscal year 2025. “From my perspective, I don't see how we could ever do that. Breaking apart the business would be very difficult, both from a cost point of view and promotional point of view,” Steve Tomsic, Chief Financial Officer of Fox Corporation, said on Monday. He went on to note that Fox drives a “tremendous amount of synergy across all of our platforms,” which include Fox News, the entertainment arm of the company, Fox Sports and Tubi. Though he noted that he didn't want to comment on the Comcast story, Tomsic said that he doesn't think the potential spinoff plan affects Fox “in any way at all.” Last Thursday, Comcast president Mike Cavanagh announced the potential development. “Like many of our peers in media, we are experiencing the effects of the transition in our video businesses, and have been studying the best path forward for these assets,” Cavanagh
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