Fidelity Parent FMR Reports 8% Stake In Fox Class A Stock
FMR holds 16.2 million Class A shares, with sole voting power over 13.9 million of them, as Fox pursues its Roku purchase.
FMR LLC, the Fidelity parent, holds 8% of Fox's Class A common stock, or 16,173,052.91 shares, as of September 30, according to a passive ownership filing (a Schedule 13G) dated Thursday. Fox, the news, sports and entertainment company behind FOX News and Tubi, is awaiting a Justice Department decision on its Roku acquisition.
Who holds the votes
FMR, the Boston-based asset manager, has sole voting power over 13,936,240.07 of the shares and shared voting power over none. Abigail P. Johnson, FMR's chairman and chief executive, is listed with the same 16,173,052.91 shares but no voting power.
The 8% is a cover-page percentage of the Class A class only. FMR certified that the shares were bought and are held in the ordinary course of business, not to change or influence control of Fox.
The position sits across FMR units including FIAM, Fidelity Management & Research Company and Fidelity Management Trust Company, according to the exhibit listing them.
Fox, Roku and the stock
Fox's Cable Network Programming unit produces FOX News, FOX Business and FS1, while its Television segment runs the FOX broadcast network, the free streaming service Tubi and 29 full power stations. It earns its money from affiliate fees and advertising.
Fox shares traded at $67.33 in Thursday trading, down 3.33% from the prior close of $69.65. The company's market value was $29.4 billion.
Fox announced the Roku purchase in June. Chief Executive Lachlan Murdoch said the deal has cleared major regulatory hurdles outside the U.S. and won shareholder approval, with a close expected in the first half of 2027. A Semafor report said the Justice Department may allow it under a consent decree, a court-approved settlement.
The Justice Department's antitrust decision, including any consent decree terms, is the next hurdle for the Roku deal.
Sources
- SCHEDULE 13G — FMR LLC re: FOX CORP (FOXA) — SEC EDGAR
- SCHEDULE 13G Exhibit 99 — SEC EDGAR
- Fox (FOXA) Stock Fair Value Edges Higher As Roku Deal Views Split Analysts — Yahoo Finance
- CPI | Fox’s $22 Billion Roku Takeover Nears US Antitrust Approval — pymnts.com
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- As Roku's Merger With Fox Clears More Hurdles, Streaming Provider Delivers Strong Q3 Results — deadline.com
- Fox outlines Tubi path to ~20% margin range as FOX One adds skew 97% non-cable subscribers (NASDAQ:FOX) | Seeking Alpha — seekingalpha.com
