Empowered Funds LLC owns an $18.95 million stake in Fox Corporation. The corporation recently announced the pricing of their secondary offering of Class B common stock, prompting changes in long-term governance strategies with the Murdoch family trust initiating major stock sales. Numerous entities such as the Royal Bank of Canada, Great Lakes Advisors LLC, and Caxton Associates LLP have acquired significant shares. The company also announced a resolution of Murdoch family trust matters leading to a significant change in media dynasty, shifting control solely to Lachlan Murdoch until 2050. A significant $913 million share was sold at $54.25 indicating market confidence. The corporation’s stock reached a new 52-week high following an analyst upgrade, while Wells Fargo raised the price target to $70.00. Despite this apparent success, Fox shares recently plunged causing market uncertainty. Furthermore, the corporation announced an impressive Q4 report surpassing estimates and showing increased revenue year-over-year. The recent performance of FOX appears promising, but long-term skepticism persists due to reasons such as litigation related to Murdoch Family Trust being terminated.
Fox Corporation Class A FOXA News Analytics from Fri, 12 Jan 2024 19:06:52 GMT to Sun, 14 Sep 2025 00:53:58 GMT -
Rating 6
- Innovation 1
- Information 7
- Rumor -4
