Fox isn’t interested in any mergers or acquisitions — at least for now. Chief Financial Officer Steve Tomsic addressed how the company is feeling about its current assets during a fireside chat at UBS’ 2025 Global Media and Communications Conference on Monday.
“We want for nothing. From a portfolio perspective, we have a pristine balance sheet. We have fantastic free cash flow that’s delivered by those assets,” Tomsic said during the New York presentation. He also noted that Fox has “an extremely high bar” when it comes to potential merger-and-acquisition deals.
“If there was something that took our core verticals to another level, which are sports and news, or if there was something that would benefit from the other thing, which is our capacity aggregate reach and really passionate reach, we would look at it. But nothing has ticked all the boxes,” he said. “We feel like we’re in a fantastic position, both from a portfolio perspective and a balance sheet perspective, to be able to pivot however we want.”
Tomsic also shared that this past October that Fox Corporation saw the most engagement its ever seen across its news, sports and entertainment verticals. Engagement has been consistently growing during 19 of that past 20 months.
The executive also shared some stats related to the company. In fiscal year 2025, which ended in August, Fox saw 2 trillion minutes worth of viewership. The company also added 350 advertisers to Fox News during the fiscal year and has seen notable ad growth lately. The first quarter of 2026 saw a 27% increase in ad revenue and an 18% increase in engagement.
Fox is also pleased with the performance of its streamer Fox One as well as its podcasting partnership with Red Sea Ventures. The company also expects to increase its streaming bundling options in the coming months.
“Amazon has been fantastic partner for us. We’ve got bundles with ESPN and Verizon. You should expect more of these to come because I think people naturally want their product to be attached with our bundle,” Tomsic said.
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