FOX · 10-K · 2026A · Full report

FOX One Launch Costs

Fox Corp (FOX, FOXA) · 2026-08-06 · Importance 45 · Surprise 50

Consolidated operating expenses increased $335 million, or 3%, to $10.853 billion in fiscal 2026. The increase was primarily attributable to FOX One launch costs and higher digital content costs. Selling, general and administrative expense increased $199 million, or 9%, to $2.367 billion, primarily because of higher employee costs and FOX One launch costs. Corporate and Other operating expenses increased by $466 million and Corporate and Other SG&A increased $96 million, reflecting FOX One launch, promotional, employee and professional-fee costs.

Key facts

• Corporate and Other Segment EBITDA decreased $280 million or 80% for fiscal 2026, primarily due to FOX branded content and marketing costs associated with the launch of FOX One which more than offset related distribution revenue. source
• Corporate and Other operating expenses were $548 million in fiscal 2026 compared to $82 million in fiscal 2025 and selling, general and administrative $609 million in fiscal 2026 versus $513 million in fiscal 2025. source
• FOX One is the Company’s direct-to-consumer subscription streaming service launched in August 2025 and is included in Corporate and Other. source
• Costs associated with the launch of FOX One contributed to increases in Operating expenses and Selling, general and administrative expenses in fiscal 2026. source
• Corporate and Other revenues include distribution revenue at FOX One and revenues from Credible and the FOX Studio Lot; operating expenses include costs associated with the launch of FOX One and advertising and promotional expenses at Credible. source
• Corporate and Other selling, general and administrative expenses primarily relate to employee costs, professional fees, costs associated with the launch of FOX One and the costs of operating the FOX Studio Lot. source