The company raised its “Future Ready” savings target from $1.6 billion to $1.9 billion by the end of the fiscal year 2025 as it looks to cut 1,000-2,000 jobs.
The company said the purchase of Humane’s assets and technology advances its transformation into a more experience-led company
CEO Lachlan Murdoch said the company’s focused strategy of live news and sports programming, coupled with its growing digital initiatives, continues to deliver.
Analysts at MoffettNathanson see limited upside potential for Fox stock from current levels as investors question the sustainability of the company’s current strong cash flow.