Fox News operates as the premier cable news property of Fox Corporation, a publicly traded mass media company. While anyone can buy shares of stock on the open market, real authority over the network doesn't belong to everyday investors. Control rests firmly with the Murdoch family through a specialized dual-class share system and a family trust.
Understanding who owns Fox News requires looking past basic stock tickers. You have to examine corporate voting structures, institutional shareholders, and the historical transactions that stripped the company down from a sprawling global conglomerate into a focused television enterprise.
The Parent Company: Fox Corporation
Fox News is not an independent entity. It operates as a core subsidiary of Fox Corporation (traded on the Nasdaq under the ticker symbols FOXA and FOX), which was established in its current form in March 2019.
Before 2019, Fox News sat under 21st Century Fox, a massive media empire that also included Hollywood movie studios and international television assets. When The Walt Disney Company purchased the vast majority of 21st Century Fox's entertainment assets for roughly $71 billion, the deal intentionally carved out news and sports operations.
Assets like Fox News, Fox Sports, Fox Broadcasting Company, and Fox Television Stations were bundled together into the newly minted Fox Corporation. This left the company as a streamlined, domestic-focused broadcaster centered primarily on live news and sports programming. You can review corporate filings and financial updates directly through the Fox Corporation Investor Relations portal.
The Murdoch Family Trust and Voting Control
Publicly traded companies usually operate on a one-share, one-vote principle. Fox Corporation breaks this rule through a dual-class share structure designed to protect family governance.
- Class A Voting Stock: These shares are held by the public and institutional investors. They carry limited voting rights, meaning ordinary shareholders have virtually no say in company direction or executive appointments.
- Class B Voting Stock: These shares carry ten votes per share and are almost entirely concentrated within the Murdoch Family Trust.
This mechanism allows the Murdoch family to maintain absolute operational control of Fox Corporation—and by extension, Fox News—while owning only a minority of the total equity.
Rupert Murdoch founded the modern iteration of the media empire and served as its longtime leader. In September 2023, Rupert stepped down from his formal executive roles, transitioning to chairman emeritus. His eldest son, Lachlan Murdoch, stepped into the role of sole chairman and CEO of Fox Corporation, consolidating his position as the primary custodian of the family's media assets.
Institutional Shareholders and Public Investors
While the Murdoch family holds the steering wheel, major financial institutions own large chunks of the company's non-voting or low-voting Class A shares. Passive index funds, mutual funds, and asset management firms hold positions on behalf of retirement accounts and individual investors.
The largest institutional holders of Fox Corporation stock typically include massive asset managers such as:
- The Vanguard Group
- BlackRock
- State Street Corporation
These entities hold millions of shares because Fox Corporation is included in major stock market indexes. However, their massive financial stakes don't translate into editorial oversight. Because of the dual-class share setup, institutional fund managers cannot use their equity to alter the political stance, news coverage, or executive leadership of Fox News. Their involvement is purely financial.
Corporate Governance and Executive Leadership
Day-to-day operations at Fox News run somewhat separately from the corporate parent, though major strategic choices require approval from Lachlan Murdoch and the board of directors.
Suzanne Scott serves as the CEO of Fox News Media, managing the network's on-air talent, programming schedules, and digital properties. Editorial decisions, prime-time lineups, and legal strategies are handled internally by network executives who align closely with the corporate philosophy established decades ago by Rupert Murdoch and founding executive Roger Ailes.
The company's governance model ensures that outsider pressure—whether from activist investors, advertiser boycotts, or public backlash—rarely penetrates the executive suite. As long as the family trust remains unified and holds the Class B super-voting shares, external forces have zero structural leverage over the network's management.
Frequently Asked Questions
Does Disney own Fox News?
No. When Disney purchased 21st Century Fox in 2019, Fox News was explicitly excluded from the transaction. Disney acquired the entertainment divisions, such as 20th Century Fox film studios, but the news and sports channels formed Fox Corporation instead.
Can regular stockholders change Fox News programming?
No. Ordinary shareholders own Class A stock, which carries minimal voting power. The Murdoch Family Trust owns the Class B super-voting shares, giving them complete authority over corporate governance and board elections.
Who is in charge of Fox News now?
Lachlan Murdoch serves as the chairman and CEO of Fox Corporation, overseeing the entire parent company following Rupert Murdoch's transition to chairman emeritus.
Is Fox News a publicly traded company?
Yes. Fox Corporation is a publicly traded company listed on the Nasdaq stock exchange under tickers FOXA and FOX, meaning anyone can purchase its financial equity, though not its voting control. You can read broader industry analysis on corporate media consolidation via the Pew Research Center.
