Fox Tops Q1 Earnings Mark Despite Advertising Declines – Limits Murdoch Voting Power to 44%

September’s Emmy Awards prove to be no revenue replacement for 2018 FIFA World Cup

Fox topped Wall Street’s earnings and revenue forecasts for the first quarter of fiscal 2020, and the evolving company is celebrating with a $2 billion stock repurchase program. That big buyback is not the only interesting news to emerge with Wednesday’s earnings for the media company pared down since Disney acquired the bulk of its film and TV operations.

In addition to the share-repurchase plan, Fox’s board of directors has limited the Murdoch family and their trust to owning no more than 44% of Fox’s outstanding voting shares (Class B).

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Tony Maglio

TV Editor • tony.maglio@thewrap.com • Twitter: @tonymaglio