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Lachlan Murdoch Doesn’t See Outcome Of Presidential Race Affecting Fox’s Ad Outlook; “Tidal Wave” Of 2024 Political Spending Long Ago Surpassed 2020
Fox Corp. CEO Lachlan Murdoch says the company's advertising outlook will not be affected by the outcome of the presidential campaign.
Asked on the company’s quarterly earnings call with Wall Street analysts about the Donald Trump-Kamala Harris presidential race, Murdoch initially joked, “That’s a tough one – what’s going to happen tomorrow? Prior to the call, Fox reported better-than-expected results for its fiscal 2025 first quarter, highlighted by 11% year-on-year growth in advertising. CFO Steve Tomsic recalled that political ad revenue totaled about $260 million in the first half of the company’s fiscal 2021, which coincided with the runup to Election Day.
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