Fox profits drop but cable networks and Tubi show growth

Fox Corporation experienced a decline in overall profits for the second quarter, though gains in cable networks and the Tubi platform provided some offset. Digital advertising revenue from the ad-supported video-on-demand service Tubi helped counterbalance lower political advertising income. The company reported these results on February 4, 2026.

Fox Corporation announced its second-quarter financial results, revealing a drop in profits despite positive performances from its cable networks and the Tubi streaming platform. The ad-supported video-on-demand (AVOD) service Tubi saw gains in digital advertising, which helped mitigate the impact of reduced political advertising revenue. This mixed outcome highlights ongoing shifts in the media landscape, where traditional revenue streams face challenges while digital platforms continue to expand.

The report underscores Tubi's role in driving growth amid broader profitability pressures at Fox. Cable networks also contributed to the positive aspects of the quarter, maintaining steady performance in a competitive environment. These developments reflect the company's efforts to diversify beyond declining areas like political ads, which typically fluctuate with election cycles.

Overall, the results indicate resilience in select segments, even as Fox navigates economic uncertainties in the entertainment industry.

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Illustration of Fox and Roku merger deal with executives shaking hands over a $22 billion contract.
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Fox agrees to acquire Roku for $22 billion

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Fox Corporation announced on June 15 that it will buy Roku for approximately $22 billion. The deal would combine Fox's Tubi service with Roku's platform and hardware business. It is expected to close in the first half of 2027.

The New York Times delivered strong first-quarter results marked by robust subscriber growth, higher average revenue per user, and accelerating ad revenue. An analyst upgraded the stock rating to hold amid balanced prospects.

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Lionsgate posted stronger quarterly results, driven by the box office performance of its thriller 'The Housemaid.' Revenues rose while the studio returned to profit.

Fluence Corporation Limited delivered a $0.5 million EBITDA in the first quarter of fiscal 2026, outperforming the prior period's breakeven result during a traditionally slow quarter. CEO Benjamin Fash attributed the performance to strong execution on backlog, improved gross margins, and cost discipline. However, orders totaled just $7.5 million due to delays.

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Fox announced its fall 2026 primetime schedule on Monday, shifting several shows to new slots while holding others for midseason. The network's scripted programming remains limited to four hours each week. A Baywatch sequel series will debut in January.

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