NEW YORK — Fox Corp. CEO Lachlan Murdoch delivered upbeat news to Wall Street analysts on Wednesday, declaring that the company's broadcast network achieved its biggest fall launch in 13 years. Speaking during the fiscal second quarter earnings call, Murdoch highlighted the strong debuts of several new programs, signaling a potential resurgence in Fox's entertainment division amid ongoing industry challenges.
Murdoch pointed to the premieres of Memory of a Killer, Best Medicine, and a revived Fear Factor as key drivers of the success. According to Murdoch, each show surpassed 10 million viewers across platforms in their first week. "The proof is in the pudding," he said, emphasizing that entertainment revenue at Fox rose in the quarter for the first time in many years—a point he later clarified as the first uptick in four years.
The earnings call came as Fox Corp. reported better-than-expected revenue for the period, even without the boost from political advertising that typically surges during election cycles. Sports and news segments once again propelled the company's financial performance, with executives noting robust viewership in those areas. However, Murdoch's comments on entertainment stood out, given the network's historical struggles in that space following major corporate restructuring.
Back in 2019, Fox Corp. emerged from the separation of 21st Century Fox, much of which was acquired by Disney in a blockbuster deal. The resulting "RemainCo," as it was dubbed, centered its operations on news and sports assets, including the Fox News Channel and Fox Sports. At the time, industry observers raised questions about the viability of maintaining a robust entertainment slate on the broadcast network, especially as streaming services like Netflix and Disney+ began dominating viewer attention.
Despite those concerns, Fox has quietly rebuilt its entertainment pipeline over the past year. The company inked high-profile agreements with actors Jamie Foxx and Taraji P. Henson for both scripted and unscripted projects, according to reports from Deadline Hollywood. Additionally, former HBO and Topic Studios executive Maria Zuckerman joined the fold, bringing her expertise in content development.
Fox is also venturing into digital content creation, signing a vertical video deal with popular YouTuber Dhar Mann. This move aims to tap into younger audiences accustomed to short-form videos on platforms like YouTube and TikTok. "We will always sign first-look deals and creative deals with the best content creators and producers and writers in the industry," Murdoch told analysts. "That’s something that we’ve always done, and will continue to do."
Overall, Murdoch reiterated Fox's commitment to its existing strategy for the entertainment network, which balances scripted dramas and comedies with unscripted reality fare. The approach emphasizes budget efficiency to ensure profitability. "We continue with our existing strategy on the entertainment network," he said, underscoring the goal of maintaining "an efficient and, ultimately, profitable cost base."
The positive momentum in entertainment comes at a time when the broader television industry grapples with declining linear viewership and escalating costs for sports rights. Fox, like its peers, faces pressure from cord-cutting and the shift to on-demand streaming. Yet, the network's fall launches suggest that traditional broadcast still holds appeal for mass audiences, particularly with event-style programming.
Looking ahead, Fox has already greenlit new projects for the 2026-27 season. Among them is the spy drama series The Interrogator, starring British actor Stephen Fry in a lead role. More pickups and renewals are pending, as the network plans its lineup amid competitive pressures from rivals like CBS, NBC, and ABC.
Murdoch's overtures extend beyond internal strategy; he appears to be courting Hollywood talent more aggressively. The earnings call remarks, titled in some reports as "Lachlan Murdoch To Hollywood: Let’s Do Lunch," reflect an invitation for collaboration. This comes as Fox seeks to bolster its creative roster in an era where studios are increasingly partnering with broadcasters for co-productions.
Industry analysts have taken note of Fox's pivot. One expert, speaking on condition of anonymity, described the fall launch success as a "welcome surprise," given the network's post-Disney focus on non-entertainment assets. However, challenges persist: sports rights fees are set to increase significantly in coming years, potentially straining budgets. Linear TV audiences continue to erode, with streaming accounting for a growing share of eyeballs.
Financially, the quarter's results underscore Fox's resilience. Revenue beat estimates, driven by sports like NFL broadcasts and news programming that remains a powerhouse. Entertainment's contribution, though smaller, marks a shift from recent trends where the division had been a drag on overall performance.
Beyond Fox, the entertainment landscape is evolving rapidly. A recent USC study found that lead roles for women in top films hit a seven-year low in 2025, highlighting ongoing diversity issues in Hollywood. Meanwhile, casting announcements for projects like Guy Ritchie's Viva La Madness, which added Vinnie Jones and Jason Isaacs to its ensemble, signal continued activity in feature films.
At Disney, new CEO Josh D’Amaro recently stated, “I’m Ready For The Challenge,” as the company navigates its own post-acquisition integration. Fox's moves could position it as a more formidable player in the entertainment arena, potentially drawing talent wary of streaming's volatility.
As Fox Corp. eyes the future, Murdoch's vision blends legacy strengths in news and sports with renewed entertainment ambitions. Whether this fall's successes translate into sustained growth remains to be seen, but for now, the network appears to be regaining its footing in a fragmented media world. Analysts will watch closely as more details emerge on upcoming seasons and dealmaking efforts.