Fox Corp Represents Murdoch’s Bet on the Value of Sports and News; Launching Coverage with $42 FVE
We are launching coverage of Fox Corp with a narrow moat rating, negative trend, and $42 fair value estimate. Our fair value estimate for Fox Corp implies a fiscal 2019 price/earnings ratio of 17 and an enterprise value of 9 times fiscal 2019 EBITDA.After completing the Disney transaction, the Murdoch clan now oversees a much smaller media firm, albeit one that still owns some major brands. Fox, the successor firm to Twenty First Century Fox, consists of the Fox network, 28 local TV stations, F...
Fox is a news, sports and entertainment company. The company has three segments: Cable Network Programming, which consists of the production and licensing of news and sports content distributed primarily through cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors; Television, which consists of the acquisition, marketing and distribution of broadcast network programming nationally under the FOX brand and the operation of several broadcast television stations; and Other, Corporate and Eliminations, which consists of corporate overhead costs, intracompany eliminations and the FOX Studios lot.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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