Who Owns Fox News?
Breaking Down the Ownership Structure
Fox News, a highly influential American cable news channel, has a complex ownership structure. The channel is owned by Fox Corporation, a Delaware corporation that manages various news, sports, and entertainment businesses. Fox Corporation, in turn, is controlled by the Murdoch family, specifically Rupert Murdoch and his sons Lachlan and James.
The Murdoch Family's Stake
The Murdoch family holds a significant stake in both News Corp and Fox Corporation. Through these stakes, they wield control over several newspapers, including the New York Post and The Wall Street Journal. In addition, the Murdoch family has a 39.6% stake in Fox News Channel.
Other Shareholders
Apart from the Murdoch family, Fox News Channel has a diverse group of shareholders. These include institutional investors such as mutual funds and hedge funds, as well as individual investors. The largest institutional shareholder of Fox News Channel is The Vanguard Group, with a 13.4% stake.
Implications for News Coverage
The ownership structure of Fox News has important implications for the channel's news coverage. Critics argue that the Murdoch family's control over the channel creates a conflict of interest, as their own political views may influence the news presented on Fox News. However, supporters of the channel argue that the diverse group of shareholders ensures a balance of perspectives and prevents any single entity from controlling the channel's editorial direction.
Comments