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TickerFOX
SectorEntertainment
Mkt cap$25.2B
EV / EBITDA9.4×
PostureHigh Velocity
Composite62/100
LensBuyer-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1754301

FOX Corporation

FOXHIGH VELOCITYFILING INTENSITY

FOX Corporation reads as an High Velocity (composite 62/100); Selective Buyer deploying $100K across 2 disclosed transactions, down 100% vs the prior cycle · primary market Media & Education.

Lens

Disclosed M&A capital (2023–2025)

$100K

−99%

vs $1.4B in 2020–2022

Disclosed transactions

2

−75%

1/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

62

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$16.6B
EBITDA$3.4B
Enterprise value$31.5B
EV / Revenue1.9×
EV / EBITDA9.4×
P/EN/A
Cash$2B
Total debt$6.6B
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

43/100

Companies actively deploying disclosed capital into M&A

  • $1.4B disclosed buyer spend

Buyer Cadence

24/100

Buyer-side companies with recent filing activity

  • 66 8-Ks

Target Probability

2/100

Issuers showing target-side patterns from filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

Pressure Watch

12/100

Issuers facing activism, governance, or control pressure

Distress Watch

0/100

Issuers showing financial-distress filing patterns

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
62/100

Issuers with the highest filing-activity intensity

  • 66 8-Ks
  • 4 form types

Quiet Power

43/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $31.5B
  • 10-Q 111d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $1,095M · Peak count: 4

FYDisclosed buysDisclosed spendAvg ticketAudited tier
20252$100K$50KN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
20223$243M$81MN/A
20211$51M$51MN/A
20204$1.1B$274MN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Bolt On
    33%
  • Platform
    33%
  • Geographic Expansion
    33%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • bolt_on
  • platform
  • geographic_expansion
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

The Company’s acquisitions support the Company’s strategy to strengthen its core brands, grow its digital businesses and selectively enhance production capabilities for its digital and linear platforms.

10-KFY2025

The Company's acquisitions support the Company's strategy to strengthen its core brands and to selectively enhance production capabilities for its digital and linear platforms.

10-KFY2022

In June 2021, the Company acquired Outkick Media, LLC, a digital media company focused on the intersection of sports, news and entertainment.

10-KFY2021

The Company competes with other companies for high-quality content to reach large audiences and to generate advertising revenue.

10-KFY2019

In fiscal 2020, we acquired Tubi, which owns and operates a leading AVOD service

10-KFY2020
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Media & Education

Market spend (2023–2025)
$31.8B
Market spend (2020–2022)
$74.8B
Recent vs prior
−57%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

9.4×EV / EBITDA

FOX trades at a -2.7-turn discount to the Media & Education peer median of 12.1×.

EV / Revenue
1.9×
Net debt / EBITDA
1.4×
Peer median EV / EBITDA
12.1×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
21.6×2.0×-0.2×$8.8B$55M
19.2×1.5×-3.6×$25.6B$196M
FOX CorporationFOX
9.4×1.9×1.4×$16.6B$100K
4.9×1.8×2.2×$37.2B$100M
3.0×0.2×14.1×$2.1B$14M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Media & Education. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)72025-08-06
  • 10-Q (quarterly)222026-02-04
  • 8-K (event)662026-02-04
  • Proxy / DEF 14A152025-10-23
  • Activism (13D / DFAN / PREC)0N/A

Signals on file

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

FOX Corporation: Issuer Brief | SE-Cluster