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Fox Corporation Has Well-Placed Bets on Live Sports, News

We initiate coverage of the Fox Corporation after the Disney merger.

Fox Corporation Has Well-Placed Bets on Live Sports, News
Mentioned:

Neil Macker: Following the sale of Twenty First Century Fox’s entertainment assets to Disney, we are initiating coverage of Fox Corporation with a narrow moat rating and a $42 per share fair value estimate.

Fox Corporation, the successor firm to Twenty First Century Fox, consists of the Fox network, 28 local TV stations, Fox News Group, and Fox Sports. The new firm represents a large bet on the viability of live sports and news. We believe these bets are well placed given our expectations for the evolution of the television industry, but Fox is now undiversified relative to other media firms.

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Neil Macker does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.