Fox News is an American news outlet that keeps us updated on every news from around the globe. Very few know about the owners of such a big corporation, and well, it rarely crosses our minds, and we tend to ignore such information.
But there is one company called BlackRock that many think of as the sole owner. So, if you also wondered, does BlackRock own Fox News? You should read ahead to know the answer.
Does Blackrock own Fox News?
The direct answer to this will be yes but also no. BlackRock does own some part of Fox News. Like any other major firm, Fox has many shareholders, not just them. But as they are indeed one of the most significant shareholders, they have a major impact on Fox.
And not just Fox but BlackRock owns shares of almost all the critical media outlets you know. The list includes channels like CNN, MSNBC, ABC, and CBS, and they also have claims on other giants like Apple, Windows, Pfizer, Moderna, AstraZeneca, and J&J.
Background on BlackRock
It is a multi-billion-dollar investment company set in New York, which was first established in 1988 as a risk management company. It has grown as a behemoth of an asset manager with almost 10 trillion dollars in assets under its management. But BlackRock is not free of controversies for its unparalleled investments in China.
BlackRock claims around 3.10% of Fox.
Primary Owners of Fox News
1. Fox Corporation
Fox Corporation is an American media corporation headed by Rupert Murdoch, the media tycoon. The family trust of the Murdoch family owns 39.6% of the company.
Rupert Murdoch handles the position of Chairman, and his son Lachlan Murdoch is the CEO and executive chairman. Together they run Fox News, Fox Sports, Fox Broadcasting Company, etc.
2. The Vanguard Group, Inc.
Vanguard is a Pennsylvania-based investment advisor firm with almost 7 trillion dollars worth of global assets under management. It only comes second to BlackRock when it comes to providing exchange-traded funds.
Along with BlackRock and State Street, Vanguard dominates the corporate sector of America. It has a stake of 7.18% in the Fox Corporation.
3. Dodge & Cox
Dodge & Cox is a mutual fund company established in 1930 that provides investment management services. They specialize in value investing and are the best in the market in their sector. The company was founded by Van Duyn Dodge along with E. Morris Cox and is currently headed by Charles Pohl as its Chairman and Dana Emery as its CEO. They own 5.17% of Fox corporation.
4. Yacktman Asset Management LP
Yacktman is another investment firm based in Austin, Texas, functioning since 1992. They are a highly celebrated investment manager with a distinctive and value-oriented approach.
3.52% of Fox Corp shares belong to them.
Wrapping It Up
It is clear to us that Fox News is definitely not owned by one particular company. Many corporations are behind its success, and they all significantly influence its operations. We hope we have delivered the answer to your question on this matter.