Who Owns Fox News? Owners, Shareholders, and Facts
Few media companies generate as much curiosity about their ownership as Fox News, and as of 2025, Fox News is owned by Fox Corporation, a publicly traded company where the Murdoch family trust holds about 36% of voting shares. Here’s a clear breakdown of who owns Fox News, how the Murdoch trust works, and how it compares to CNN.
Fox News Owner (2025): Fox Corporation, controlled by the Murdoch family ·
Chairman & CEO: Lachlan Murdoch ·
Chairman Emeritus: Rupert Murdoch ·
Market Cap (Fox Corp): $24.16 billion ·
Voting Control by Murdoch Trust: Approximately 36%
Quick snapshot
- Fox News is owned by Fox Corporation, not directly by the Murdoch family in an individual capacity (Fox Corporation)
- The Murdoch family trust controls approximately 36% of Fox Corporation’s Class B voting stock (SEC)
- Lachlan Murdoch is Chairman and CEO of Fox Corporation (Britannica)
- Exact percentage of voting shares held by all Murdoch family members beyond the trust
- Future succession plans for ownership after Lachlan Murdoch
- Exact number of shares held by each institutional investor is not publicly disclosed in detail
- Long-term effect of cord-cutting on Fox News viewership is uncertain
- Possibility of future changes in Murdoch family control after Lachlan’s tenure is unknown
- 1996: Fox News Channel launched under News Corp (Britannica)
- 2013: News Corp splits; 21st Century Fox formed (Britannica)
- 2019: Disney acquires 21st Century Fox; Fox Corporation remains with Murdoch family (Britannica)
- 2023: Rupert Murdoch steps down as chairman; becomes Chairman Emeritus (Fox Corporation)
- 2025: Murdoch family trust resolved; Lachlan gains control (SEC)
- The 2025 trust resolution gives Lachlan Murdoch control of Fox Corporation and News Corp assets (The New York Times)
- Siblings may divest shares; remaining shares stay under Lachlan’s trust (The New York Times)
- Fox remains under Murdoch family control for the foreseeable future (The New York Times)
Here is a summary of key facts about Fox News ownership.
| Label | Value |
|---|---|
| Owner (2025) | Fox Corporation |
| Parent CEO | Lachlan Murdoch |
| Chairman Emeritus | Rupert Murdoch |
| Voting Control | Murdoch family trust (~36%) |
| Market Cap (Fox Corp) | $24.16 billion |
| Primary Competitor | CNN (Warner Bros. Discovery) |
Who owns Fox News today?
Fox Corporation: the current parent company
Fox News is owned by Fox Corporation, a publicly traded company listed on the Nasdaq under the ticker FOXA. The company was created in 2019 after the sale of 21st Century Fox’s entertainment assets to Disney. The news and sports assets, including Fox News, Fox Business, and Fox Sports, were retained by the Murdoch family and reorganized as Fox Corporation. The SEC filing states that the company is controlled by the Murdoch family trust.
The Murdoch family trust control
The Murdoch family trust holds approximately 36.2% of Fox Corporation’s Class B common stock, which carries the bulk of voting power. The trust also holds less than 0.1% of Class A common stock. In September 2025, the trust was restructured, creating new trusts for Lachlan, Grace, and Chloe Murdoch, and removing Prudence, Elisabeth, and James Murdoch as beneficiaries. The settlement was valued at approximately $3.3 billion, as reported by Reuters.
The Murdoch family trust gives one family outsize voting control over a major media company. The 2025 restructuring ensures Lachlan Murdoch will steer Fox Corporation for years, while his siblings take cash for their shares.
The pattern: the Murdoch trust’s concentrated voting power makes Fox Corporation a family-controlled public company, a rarity among major media groups.
Is Fox News still owned by Rupert Murdoch?
Rupert Murdoch’s current role at Fox Corporation
Rupert Murdoch, now 94, serves as Chairman Emeritus of both Fox Corporation and News Corp. He stepped down as chairman of both companies in 2023 but remains involved in an honorary capacity. The Fox Corporation describes his role as advisory. He does not hold operational control, but his family trust’s voting power ensures his legacy.
The 2019 sale of 21st Century Fox to Disney
When Disney acquired most of 21st Century Fox’s assets in 2019 for $71.3 billion, Fox News was explicitly excluded from the deal. The Murdoch family kept the news and sports divisions, forming Fox Corporation. This is a common point of confusion: Disney does not own Fox News. The Britannica confirms that Fox Corporation remained under Murdoch control after the sale.
Who are the largest shareholders of Fox News?
Murdoch family trust voting power
The Murdoch family trust is the dominant voting shareholder. According to the SEC filing, the trust’s 36.2% of Class B shares gives it effective control of the company. The Harvard Future of Media project lists the Murdoch family as the controlling shareholder, with large institutional holders such as Vanguard and BlackRock as minority investors.
Other institutional shareholders
Public filings show that Vanguard Group, BlackRock, and State Street are among the largest institutional shareholders of Fox Corporation’s Class A shares. However, their combined voting power is dwarfed by the Murdoch trust’s Class B shares. The Harvard Future of Media project notes that no single institutional investor holds more than 10% of total voting power.
How does Fox News compare to CNN?
Five dimensions, one pattern: ownership, viewership, and trustworthiness diverge sharply between the two cable news giants.
| Dimension | Fox News | CNN |
|---|---|---|
| Owner | Fox Corporation (Murdoch family trust) | Warner Bros. Discovery (publicly traded) |
| Parent Company | Fox Corporation | Warner Bros. Discovery |
| CEO | Lachlan Murdoch | David Zaslav |
| Average Total Viewership (2024-2025) | ~2.5 million (prime time) | ~1.1 million (prime time) |
| Bias Rating (Ad Fontes Media) | Right-leaning to far-right (opinion) | Center-left (news reporting) |
Fox News typically leads CNN in total average viewership, especially in prime time. However, trustworthiness ratings vary widely by audience. The Harvard Future of Media project notes that both networks are owned by large publicly traded corporations, but Fox’s control structure is uniquely concentrated in one family.
Viewers who compare Fox and CNN for trustworthiness face a deeply partisan divide. A 2024 Pew Research survey found that 70% of Republicans trust Fox News, while only 10% trust CNN. The reverse is true for Democrats.
The implication: ownership structure alone does not determine trustworthiness – audience political alignment plays a decisive role.
Is Fox viewership declining?
Recent viewership trends at Fox News
Fox News remains the top-rated cable news network in 2025, but it has seen some viewership fluctuations. Nielsen data shows that prime-time viewership dipped in the months following the 2020 election, then recovered. In 2024, Fox averaged about 2.5 million prime-time viewers, compared to CNN’s 1.1 million and MSNBC’s 1.8 million. The Fox Corporation does not break out network-specific revenue, but industry analysts note that cable news viewership as a whole has been under pressure from cord-cutting.
Factors affecting audience numbers
Factors include the 2024 election cycle, talent changes (e.g., Tucker Carlson’s departure), and competition from streaming services. The trend is not a steep decline, but rather a slow erosion typical of linear television. Reuters reported that Fox News’ digital and streaming growth partially offsets linear losses.
How biased is Fox News?
Media bias ratings from independent organizations
Ad Fontes Media rates Fox News as “Right-leaning” for its straight news coverage and “Far Right” for its opinion programming. AllSides gives Fox News a “Right” rating. The Harvard Future of Media project notes that the distinction between news and opinion is not always clear to viewers, which amplifies perceptions of bias.
Conservative vs. centrist content balance
Fox News’ prime-time lineup features conservative hosts, while daytime news programming is more neutral. The Britannica describes the network as having a conservative editorial stance, particularly in its opinion shows.
Are Donald Trump and Rupert Murdoch friends?
Reported relationship between Trump and Murdoch
Reports from The New York Times and Reuters describe a complex relationship that has alternated between warmth and estrangement. The two men have spoken frequently and dined together, but their relationship is largely political and professional rather than a personal friendship. Murdoch has reportedly been frustrated with Trump’s election denialism, while Trump has criticized Fox News for not being supportive enough.
Impact on Fox News editorial direction
The relationship has influenced Fox News’ coverage, but the network’s editorial direction is set by Lachlan Murdoch and Fox News executives, not by Rupert Murdoch personally. The Fox Corporation emphasizes that the company operates independently.
Fox News Ownership Timeline
- 1996: Fox News Channel launched under News Corp.
- 2013: News Corp splits into two companies; 21st Century Fox formed as the entertainment arm.
- 2019: Disney acquires 21st Century Fox assets; Fox Corporation remains with Murdoch family.
- 2020: Lachlan Murdoch becomes CEO of Fox Corporation.
- 2023: Rupert Murdoch steps down as chairman; becomes Chairman Emeritus.
- 2025: Murdoch family trust resolved; Lachlan gains control of Fox Corporation and News Corp assets.
What this means: the timeline shows a clear path of consolidation of control under Lachlan Murdoch, with the 2025 trust resolution as the final step.
What’s Certain and What’s Unclear About Fox News Ownership
Confirmed facts
- Fox News is owned by Fox Corporation, controlled by the Murdoch family trust.
- Rupert Murdoch is Chairman Emeritus of Fox Corporation.
- Lachlan Murdoch is Chairman and CEO.
- The 2019 Disney sale did not include Fox News.
- The Murdoch family trust holds about 36% of voting shares.
What’s unclear
- The exact percentage of voting shares held by all Murdoch family members beyond the trust.
- Future succession plans for ownership after Lachlan Murdoch.
- Exact number of shares held by each institutional investor is not publicly disclosed in detail.
- Long-term effect of cord-cutting on Fox News viewership is uncertain.
- Possibility of future changes in Murdoch family control after Lachlan’s tenure is unknown.
The catch: while many facts are confirmed, key uncertainties about future control and long-term viewership remain.
Quotes from Fox Corporation Leadership
Rupert Murdoch currently serves as Chairman Emeritus of both Fox Corporation and News Corp.
— Fox Corporation official bio
Lachlan Murdoch is Chairman & CEO of Fox Corporation.
— Fox Corporation official bio
Lachlan Murdoch will manage the family’s assets, including Fox Corporation and News Corp, through a trust.
— The New York Times
For viewers and investors, the implication is clear: Fox News will remain under Murdoch family control for the foreseeable future, with Lachlan Murdoch firmly in charge. The 2025 trust resolution has solidified his position, while siblings may exit as shareholders. The question of what happens after Lachlan remains open.
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Frequently asked questions
Is Fox News owned by the same company as Fox Broadcasting?
Yes, both are owned by Fox Corporation. Fox Broadcasting is a division of Fox Corporation, which also owns Fox News, Fox Business, and Fox Sports.
Does Rupert Murdoch still have control over Fox News?
Rupert Murdoch is Chairman Emeritus and no longer holds operational control, but his family trust retains voting control. Lachlan Murdoch is the day-to-day CEO.
Who owns CNN?
CNN is owned by Warner Bros. Discovery, a publicly traded company led by CEO David Zaslav.
What is Fox Corporation’s market cap?
As of 2025, Fox Corporation’s market capitalization is approximately $24.16 billion.
Is Fox News publicly traded?
Fox News is not a separate publicly traded entity; it is part of Fox Corporation, which trades on the Nasdaq under the symbol FOXA.
When did Fox News start?
Fox News Channel launched on October 7, 1996.
What is the political lean of Fox News?
Independent media bias raters such as Ad Fontes Media and AllSides classify Fox News as right-leaning, with its opinion programming rated as far-right on certain issues.
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